IDEX (NYSE:IEX – Get Free Report) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of 8.150-8.450 for the period, compared to the consensus estimate of 8.330. The company issued revenue guidance of -. IDEX also updated its FY24 guidance to $8.15-$8.45 EPS.
Analyst Upgrades and Downgrades
A number of brokerages have issued reports on IEX. Citigroup lifted their price target on shares of IDEX from $254.00 to $277.00 and gave the company a buy rating in a report on Monday, April 8th. Stifel Nicolaus upgraded IDEX from a hold rating to a buy rating and boosted their target price for the stock from $215.00 to $265.00 in a research 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. StockNews.com cut IDEX from a buy rating to a hold rating in a report on Wednesday. Finally, Oppenheimer increased their target price on IDEX from $245.00 to $252.00 and gave the company an outperform rating in a research report on Thursday, April 18th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus price target of $238.78.
Check Out Our Latest Analysis on IEX
IDEX Trading Down 3.4 %
IDEX (NYSE:IEX – Get Free Report) last released its earnings results on Tuesday, April 23rd. The industrial products company reported $1.88 EPS for the quarter, beating analysts’ consensus estimates of $1.76 by $0.12. The firm had revenue of $801.00 million for the quarter, compared to analysts’ expectations of $807.52 million. IDEX had a return on equity of 18.56% and a net margin of 18.21%. The company’s quarterly revenue was down 5.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.09 earnings per share. On average, equities research analysts anticipate that IDEX will post 8.34 earnings per share for the current fiscal year.
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.
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