IDEX (NYSE:IEX) Releases FY 2024 Earnings Guidance

IDEX (NYSE:IEX) issued an update on its FY 2024 earnings guidance on Tuesday morning. 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.

IDEX Price Performance

Shares of NYSE:IEX traded down $1.76 during midday trading on Friday, reaching $221.52. The company’s stock had a trading volume of 76,788 shares, compared to its average volume of 376,359. IDEX has a fifty-two week low of $183.76 and a fifty-two week high of $246.36. The company has a market capitalization of $16.77 billion, a P/E ratio of 29.38, a P/E/G ratio of 2.24 and a beta of 0.97. The company has a debt-to-equity ratio of 0.37, a current ratio of 3.37 and a quick ratio of 2.05. The business’s fifty day simple moving average is $236.49 and its 200-day simple moving average is $216.60.

IDEX (NYSE:IEX) last announced its quarterly earnings data 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 firm had revenue of $801.00 million during the quarter, compared to analyst estimates of $807.52 million. IDEX had a return on equity of 17.60% and a net margin of 17.89%. The company’s revenue was down 5.3% on a year-over-year basis. During the same period last year, the company earned $2.09 earnings per share. As a group, equities research analysts expect that IDEX will post 8.34 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on IEX shares. StockNews.com cut IDEX from a buy rating to a hold rating in a report on Wednesday. Royal Bank of Canada reissued an outperform rating and issued a $255.00 target price on shares of IDEX in a research report on Thursday, March 21st. Stifel Nicolaus raised IDEX from a hold rating to a buy rating and lifted their target price for the company from $215.00 to $265.00 in a research report on Thursday, February 8th. Citigroup boosted their price target on IDEX from $254.00 to $277.00 and gave the stock a buy rating in a research report on Monday, April 8th. Finally, Oppenheimer boosted their price target on IDEX from $245.00 to $252.00 and gave the stock an outperform rating in a research report on Thursday, April 18th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, IDEX has an average rating of Moderate Buy and an average price target of $241.67.

About IDEX

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.