Zacks Research Has Positive Outlook for IDEX FY2024 Earnings

IDEX Co. (NYSE:IEX) – Research analysts at Zacks Research increased their FY2024 earnings per share (EPS) estimates for IDEX in a note issued to investors on Monday, November 25th. Zacks Research analyst R. Department now anticipates that the industrial products company will post earnings of $7.87 per share for the year, up from their previous forecast of $7.86. The consensus estimate for IDEX’s current full-year earnings is $7.88 per share. Zacks Research also issued estimates for IDEX’s Q2 2025 earnings at $2.17 EPS and Q2 2026 earnings at $2.37 EPS.

IDEX (NYSE:IEX) last issued its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $1.90 EPS for the quarter, topping analysts’ consensus estimates of $1.89 by $0.01. The business had revenue of $798.20 million during the quarter, compared to analysts’ expectations of $793.05 million. IDEX had a return on equity of 15.92% and a net margin of 15.35%. The business’s quarterly revenue was up .6% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.12 earnings per share.

IEX has been the subject of a number of other reports. Royal Bank of Canada raised their price target on IDEX from $236.00 to $248.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. Robert W. Baird decreased their price target on IDEX from $245.00 to $241.00 and set an “outperform” rating for the company in a research note on Thursday, October 31st. Stifel Nicolaus raised their price target on IDEX from $232.00 to $244.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Oppenheimer decreased their price target on IDEX from $245.00 to $238.00 and set an “outperform” rating for the company in a research note on Monday, August 5th. Finally, TD Cowen decreased their price target on IDEX from $240.00 to $230.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $241.14.

IDEX Stock Performance

NYSE IEX opened at $231.10 on Wednesday. The stock has a market capitalization of $17.50 billion, a PE ratio of 35.61, a P/E/G ratio of 2.50 and a beta of 0.96. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.97 and a quick ratio of 2.11. The business has a 50 day simple moving average of $216.30 and a two-hundred day simple moving average of $207.90. IDEX has a 1-year low of $189.51 and a 1-year high of $246.36.

Institutional Trading of IDEX

Large investors have recently added to or reduced their stakes in the company. State Street Corp boosted its stake in shares of IDEX by 0.5% in the third quarter. State Street Corp now owns 3,017,976 shares of the industrial products company’s stock worth $647,356,000 after buying an additional 15,077 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of IDEX by 108.4% in the third quarter. Wellington Management Group LLP now owns 2,830,929 shares of the industrial products company’s stock worth $607,234,000 after buying an additional 1,472,456 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of IDEX by 1.3% in the third quarter. Geode Capital Management LLC now owns 1,891,175 shares of the industrial products company’s stock worth $404,339,000 after buying an additional 23,388 shares during the last quarter. Champlain Investment Partners LLC boosted its stake in shares of IDEX by 28.8% in the third quarter. Champlain Investment Partners LLC now owns 1,223,676 shares of the industrial products company’s stock worth $262,479,000 after buying an additional 273,460 shares during the last quarter. Finally, Barclays PLC boosted its stake in shares of IDEX by 1.2% in the third quarter. Barclays PLC now owns 1,177,645 shares of the industrial products company’s stock worth $252,603,000 after buying an additional 14,360 shares during the last quarter. Hedge funds and other institutional investors own 97.96% of the company’s stock.

IDEX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 17th will be paid a dividend of $0.69 per share. The ex-dividend date is Friday, January 17th. This represents a $2.76 annualized dividend and a yield of 1.19%. IDEX’s dividend payout ratio (DPR) is 42.72%.

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.