IDEX (NYSE:IEX) Announces Quarterly Earnings Results

IDEX (NYSE:IEX) posted its quarterly earnings data on Tuesday. The industrial products company reported $1.88 EPS for the quarter, beating the consensus estimate of $1.76 by $0.12, Briefing.com reports. IDEX had a return on equity of 17.88% and a net margin of 17.89%. The firm had revenue of $801.00 million during the quarter, compared to the consensus estimate of $807.52 million. During the same period in the prior year, the business earned $2.09 EPS. The firm’s revenue was down 5.3% compared to the same quarter last year.

IDEX Stock Down 3.3 %

IEX opened at $224.64 on Thursday. The stock has a market capitalization of $17.00 billion, a price-to-earnings ratio of 29.56, a price-to-earnings-growth ratio of 2.32 and a beta of 0.97. IDEX has a 12 month low of $183.76 and a 12 month high of $246.36. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.89 and a quick ratio of 2.05. The business has a 50-day moving average of $236.58 and a two-hundred day moving average of $216.55.

Analysts Set New Price Targets

IEX has been the topic of a number of analyst reports. Royal Bank of Canada restated an “outperform” rating and issued a $255.00 price target on shares of IDEX in a research note on Thursday, March 21st. Oppenheimer raised their price objective on shares of IDEX from $245.00 to $252.00 and gave the company an “outperform” rating in a research note on Thursday, April 18th. Citigroup boosted their price target on IDEX from $254.00 to $277.00 and gave the stock a “buy” rating in a research note on Monday, April 8th. Stifel Nicolaus upgraded shares of IDEX from a “hold” rating to a “buy” rating and lifted their target price for the stock from $215.00 to $265.00 in a research report on Thursday, February 8th. Finally, StockNews.com downgraded IDEX from a “buy” rating to a “hold” rating in a research report on Wednesday. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, IDEX currently has a consensus rating of “Moderate Buy” and an average target price of $238.78.

IDEX Company Profile

IDEX Corporation, together with its subsidiaries, provides applied solutions worldwide. The company operates through three segments: Fluid & Metering Technologies (FMT), Health & Science Technologies (HST), and Fire & Safety/Diversified Products (FSDP). The FMT segment designs, produces, and distributes positive displacement pumps, valves, small volume provers, flow meters, injectors, and other fluid-handling pump modules and systems, as well as flow monitoring and other services for the food, chemical, general industrial, water and wastewater, agricultural, and energy industries.