Q2 2024 Earnings Forecast for IDEX Co. (NYSE:IEX) Issued By DA Davidson

IDEX Co. (NYSE:IEX - Free Report) - Equities researchers at DA Davidson issued their Q2 2024 earnings per share (EPS) estimates for shares of IDEX in a report released on Thursday, April 25th. DA Davidson analyst M. Summerville anticipates that the industrial products company will post earnings per share of $2.04 for the quarter. The consensus estimate for IDEX's current full-year earnings is $8.34 per share.

IEX has been the subject of a number of other research reports. Robert W. Baird lowered their target price on IDEX from $260.00 to $256.00 and set an "outperform" rating for the company in a research note on Thursday. Oppenheimer lifted their price target on shares of IDEX from $245.00 to $252.00 and gave the stock an "outperform" rating in a research note on Thursday, April 18th. Stifel Nicolaus raised IDEX from a "hold" rating to a "buy" rating and raised their price target for the company from $215.00 to $265.00 in a report on Thursday, February 8th. Royal Bank of Canada restated an "outperform" rating and set a $255.00 price target on shares of IDEX in a report on Thursday, March 21st. Finally, Citigroup increased their price target on IDEX from $254.00 to $277.00 and gave the company a "buy" rating in a report on Monday, April 8th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $241.67.

IDEX Trading Down 1.2 %

Shares of NYSE IEX traded down $2.62 during trading hours on Friday, hitting $220.66. The company's stock had a trading volume of 330,458 shares, compared to its average volume of 379,569. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.05 and a current ratio of 3.37. IDEX has a 12 month low of $183.76 and a 12 month high of $246.36. The stock has a market cap of $16.70 billion, a price-to-earnings ratio of 29.03, a P/E/G ratio of 2.24 and a beta of 0.97. The business has a 50-day simple moving average of $236.36 and a 200-day simple moving average of $216.69.

IDEX (NYSE:IEX - Get Free Report) last issued its quarterly earnings results on Tuesday, April 23rd. The industrial products company reported $1.88 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.76 by $0.12. IDEX had a return on equity of 17.60% 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 quarter last year, the company posted $2.09 EPS. The company's revenue for the quarter was down 5.3% on a year-over-year basis.

Institutional Investors Weigh In On IDEX

Several hedge funds have recently made changes to their positions in IEX. Nordea Investment Management AB grew its position in shares of IDEX by 1,196.4% in the fourth quarter. Nordea Investment Management AB now owns 135,825 shares of the industrial products company's stock valued at $29,598,000 after purchasing an additional 125,348 shares during the last quarter. Impax Asset Management Group plc boosted its holdings in IDEX by 4.0% during the fourth quarter. Impax Asset Management Group plc now owns 2,190,741 shares of the industrial products company's stock worth $475,632,000 after purchasing an additional 84,502 shares during the last quarter. Lincoln National Corp increased its stake in shares of IDEX by 7.1% during the 3rd quarter. Lincoln National Corp now owns 1,564 shares of the industrial products company's stock worth $325,000 after purchasing an additional 104 shares during the last quarter. Deutsche Bank AG raised its holdings in IDEX by 13.3% in the 3rd quarter. Deutsche Bank AG now owns 244,610 shares of the industrial products company's stock valued at $50,884,000 after acquiring an additional 28,661 shares during the period. Finally, Raymond James & Associates increased its holdings in shares of IDEX by 11.2% during the fourth quarter. Raymond James & Associates now owns 76,465 shares of the industrial products company's stock worth $16,601,000 after purchasing an additional 7,684 shares during the period. Hedge funds and other institutional investors own 97.96% of the company's stock.

About IDEX

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.