Equities Analysts Set Expectations for IDEX Co.'s Q2 2024 Earnings (NYSE:IEX)

IDEX Co. (NYSE:IEX - Free Report) - Analysts at Seaport Res Ptn dropped their Q2 2024 earnings per share (EPS) estimates for shares of IDEX in a research note issued to investors on Friday, April 26th. Seaport Res Ptn analyst W. Liptak now anticipates that the industrial products company will post earnings of $2.03 per share for the quarter, down from their prior forecast of $2.15. The consensus estimate for IDEX's current full-year earnings is $8.33 per share. Seaport Res Ptn also issued estimates for IDEX's FY2024 earnings at $8.23 EPS, Q1 2025 earnings at $2.04 EPS, Q2 2025 earnings at $2.33 EPS, Q3 2025 earnings at $2.44 EPS, Q4 2025 earnings at $2.42 EPS and FY2025 earnings at $9.24 EPS.

IDEX (NYSE:IEX - Get Free Report) last announced its earnings results on Tuesday, April 23rd. The industrial products company reported $1.88 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $807.52 million. During the same quarter in the previous year, the business earned $2.09 EPS. The firm's revenue for the quarter was down 5.3% on a year-over-year basis.

A number of other research analysts also recently weighed in on the company. Citigroup lifted 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. Oppenheimer boosted their target price on IDEX from $245.00 to $252.00 and gave the company an "outperform" rating in a research note on Thursday, April 18th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $255.00 price target on shares of IDEX in a research report on Thursday, March 21st. Robert W. Baird reduced their price target on IDEX from $260.00 to $256.00 and set an "outperform" rating for the company in a research report on Thursday. Finally, Stifel Nicolaus raised IDEX from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $215.00 to $265.00 in a research report on Thursday, February 8th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat, IDEX has an average rating of "Moderate Buy" and a consensus target price of $250.71.

IDEX Price Performance

Shares of IEX traded up $3.22 during midday trading on Monday, reaching $223.88. The stock had a trading volume of 456,131 shares, compared to its average volume of 380,736. The company has a debt-to-equity ratio of 0.37, a current ratio of 3.37 and a quick ratio of 2.45. The company has a market capitalization of $16.95 billion, a P/E ratio of 29.46, a P/E/G ratio of 2.21 and a beta of 0.97. The firm's 50 day moving average price is $236.29 and its 200-day moving average price is $216.93. IDEX has a 52 week low of $183.76 and a 52 week high of $246.36.

Hedge Funds Weigh In On IDEX

Large investors have recently added to or reduced their stakes in the company. Planned Solutions Inc. bought a new stake in shares of IDEX in the 4th quarter valued at approximately $33,000. Riverview Trust Co bought a new stake in shares of IDEX in the 1st quarter valued at approximately $35,000. Quarry LP bought a new stake in shares of IDEX in the 4th quarter valued at approximately $36,000. EdgeRock Capital LLC bought a new stake in shares of IDEX in the 4th quarter valued at approximately $48,000. Finally, VisionPoint Advisory Group LLC bought a new stake in shares of IDEX in the 4th quarter valued at approximately $50,000. Institutional investors and hedge funds own 97.96% of the company's stock.

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.