Wall Street analysts forecast that IDEX Co. (NYSE:IEX) will report earnings per share (EPS) of $1.35 for the current quarter, Zacks Investment Research reports. Five analysts have issued estimates for IDEX’s earnings, with the lowest EPS estimate coming in at $1.34 and the highest estimate coming in at $1.36. IDEX reported earnings per share of $1.31 in the same quarter last year, which suggests a positive year over year growth rate of 3.1%. The business is expected to issue its next earnings results on Tuesday, February 4th.
On average, analysts expect that IDEX will report full year earnings of $5.82 per share for the current fiscal year, with EPS estimates ranging from $5.80 to $5.83. For the next financial year, analysts anticipate that the business will post earnings of $5.97 per share, with EPS estimates ranging from $5.80 to $6.17. Zacks’ earnings per share averages are a mean average based on a survey of sell-side analysts that follow IDEX.
IDEX (NYSE:IEX) last issued its earnings results on Tuesday, October 29th. The industrial products company reported $1.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.46 by $0.06. IDEX had a return on equity of 21.28% and a net margin of 17.05%. The company had revenue of $624.20 million for the quarter, compared to analysts’ expectations of $641.66 million. During the same period last year, the business earned $1.41 EPS. IDEX’s quarterly revenue was up .2% compared to the same quarter last year.
Several equities analysts have weighed in on IEX shares. Rosenblatt Securities started coverage on IDEX in a research note on Thursday, November 7th. They set a “buy” rating and a $185.00 price objective on the stock. ValuEngine cut IDEX from a “buy” rating to a “hold” rating in a research note on Tuesday, October 1st. Finally, Citigroup started coverage on IDEX in a research note on Monday, September 30th. They set a “neutral” rating and a $175.00 price objective on the stock. Eight analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. IDEX presently has an average rating of “Hold” and an average target price of $175.57.
In other news, CAO Michael J. Yates sold 14,871 shares of the firm’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $162.76, for a total transaction of $2,420,403.96. Following the completion of the sale, the chief accounting officer now directly owns 6,197 shares of the company’s stock, valued at approximately $1,008,623.72. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Ernest J. Mrozek sold 6,650 shares of the firm’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $160.24, for a total value of $1,065,596.00. Following the sale, the director now directly owns 16,255 shares of the company’s stock, valued at $2,604,701.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 54,543 shares of company stock worth $8,833,294. Company insiders own 1.20% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. Mitsubishi UFJ Trust & Banking Corp increased its position in shares of IDEX by 10.5% during the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 67,973 shares of the industrial products company’s stock valued at $11,528,000 after purchasing an additional 6,450 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in IDEX by 0.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 959,823 shares of the industrial products company’s stock worth $165,223,000 after acquiring an additional 7,988 shares during the last quarter. DekaBank Deutsche Girozentrale increased its holdings in IDEX by 300.4% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 72,748 shares of the industrial products company’s stock worth $12,393,000 after acquiring an additional 54,581 shares during the last quarter. BBVA USA Bancshares Inc. increased its holdings in IDEX by 33.3% in the 3rd quarter. BBVA USA Bancshares Inc. now owns 7,778 shares of the industrial products company’s stock worth $1,275,000 after acquiring an additional 1,943 shares during the last quarter. Finally, Huntington National Bank increased its holdings in IDEX by 14.0% in the 3rd quarter. Huntington National Bank now owns 694 shares of the industrial products company’s stock worth $114,000 after acquiring an additional 85 shares during the last quarter. 97.31% of the stock is owned by hedge funds and other institutional investors.
Shares of IEX traded down $0.47 during trading hours on Wednesday, reaching $157.36. The stock had a trading volume of 596,100 shares, compared to its average volume of 463,266. IDEX has a 12 month low of $117.72 and a 12 month high of $173.84. The firm has a 50-day simple moving average of $160.18 and a 200 day simple moving average of $162.38. The company has a current ratio of 3.21, a quick ratio of 2.39 and a debt-to-equity ratio of 0.39. The company has a market capitalization of $11.97 billion, a price-to-earnings ratio of 29.09, a P/E/G ratio of 2.80 and a beta of 1.21.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 30th. Shareholders of record on Wednesday, January 15th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.27%. The ex-dividend date is Tuesday, January 14th. IDEX’s dividend payout ratio (DPR) is presently 36.97%.
IDEX Company Profile
IDEX Corporation, through its subsidiaries, operates as an applied solutions company 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, flow meters, injectors, and other fluid-handling pump modules and systems, as well as offers flow monitoring and other services for the food, chemical, general industrial, water and wastewater, agricultural, and energy industries.
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