Q2 2024 EPS Estimates for IDEX Co. Cut by Analyst (NYSE:IEX)

IDEX Co. (NYSE:IEX - Free Report) - Equities research analysts at Zacks Research lowered their Q2 2024 earnings estimates for shares of IDEX in a report released on Tuesday, May 14th. Zacks Research analyst R. Department now anticipates that the industrial products company will post earnings per share of $2.04 for the quarter, down from their prior estimate of $2.12. The consensus estimate for IDEX's current full-year earnings is $8.33 per share. Zacks Research also issued estimates for IDEX's Q3 2024 earnings at $2.17 EPS, Q4 2024 earnings at $2.18 EPS, FY2024 earnings at $8.27 EPS, Q2 2025 earnings at $2.42 EPS, Q3 2025 earnings at $2.38 EPS, Q4 2025 earnings at $2.27 EPS, FY2025 earnings at $9.07 EPS, Q1 2026 earnings at $2.39 EPS and FY2026 earnings at $10.22 EPS.

IDEX (NYSE:IEX - Get Free Report) last issued its quarterly earnings results on Tuesday, April 23rd. The industrial products company reported $1.88 EPS for the quarter, topping analysts' consensus estimates of $1.76 by $0.12. The company had revenue of $801.00 million for the quarter, compared to analyst estimates of $807.52 million. IDEX had a net margin of 17.89% and a return on equity of 17.60%. IDEX's revenue was down 5.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.09 earnings per share.

A number of other equities analysts have also recently issued reports on the company. 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. Robert W. Baird reduced their price target on shares of IDEX from $260.00 to $256.00 and set an "outperform" rating for the company in a report on Thursday, April 25th. StockNews.com lowered shares of IDEX from a "buy" rating to a "hold" rating in a report on Friday, May 10th. Oppenheimer raised 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. Finally, Citigroup upped 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. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $250.71.

IDEX Trading Down 0.1 %

NYSE:IEX traded down $0.31 on Wednesday, reaching $224.35. 284,157 shares of the stock traded hands, compared to its average volume of 386,731. The firm has a market capitalization of $16.98 billion, a price-to-earnings ratio of 29.46, a price-to-earnings-growth ratio of 2.26 and a beta of 0.99. IDEX has a 1-year low of $183.76 and a 1-year high of $246.36. The company has a current ratio of 3.37, a quick ratio of 2.45 and a debt-to-equity ratio of 0.37. The company's 50 day moving average is $233.38 and its 200-day moving average is $219.04.

Institutional Investors Weigh In On IDEX

Hedge funds and other institutional investors have recently modified their holdings of the stock. Nordea Investment Management AB boosted its holdings in 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 worth $29,598,000 after acquiring an additional 125,348 shares in the last quarter. Impax Asset Management Group plc increased its position in shares of 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 valued at $475,632,000 after acquiring an additional 84,502 shares in the last quarter. Lincoln National Corp boosted its stake in IDEX by 7.1% during the 3rd quarter. Lincoln National Corp now owns 1,564 shares of the industrial products company's stock valued at $325,000 after purchasing an additional 104 shares during the last quarter. Deutsche Bank AG increased its holdings in shares of IDEX by 13.3% in the 3rd quarter. Deutsche Bank AG now owns 244,610 shares of the industrial products company's stock worth $50,884,000 after purchasing an additional 28,661 shares in the last quarter. Finally, Raymond James & Associates raised its stake in shares of IDEX by 11.2% in 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 last quarter. 97.96% of the stock is currently owned by institutional investors.

IDEX Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be paid a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.23%. This is a positive change from IDEX's previous quarterly dividend of $0.64. The ex-dividend date is Thursday, May 16th. IDEX's payout ratio is presently 33.68%.

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.