IDEX (NYSE:IEX) Updates Q2 2024 Earnings Guidance

IDEX (NYSE:IEX) issued an update on its second quarter 2024 earnings guidance on Tuesday morning. The company provided EPS guidance of 2.000-2.050 for the period, compared to the consensus EPS estimate of 2.120. The company issued revenue guidance of -. IDEX also updated its FY 2024 guidance to 8.150-8.450 EPS.

IDEX Stock Performance

Shares of IEX traded down $1.76 during trading hours on Friday, hitting $221.52. The company’s stock had a trading volume of 76,788 shares, compared to its average volume of 376,359. The business has a 50 day simple moving average of $236.49 and a two-hundred day simple moving average of $216.60. The company has a market cap of $16.77 billion, a price-to-earnings ratio of 29.38, a PEG ratio of 2.24 and a beta of 0.97. IDEX has a 52-week low of $183.76 and a 52-week high of $246.36. The company has a debt-to-equity ratio of 0.37, a current ratio of 3.37 and a quick ratio of 2.05.

IDEX (NYSE:IEX) last issued its quarterly earnings data on Tuesday, April 23rd. The industrial products company reported $1.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.76 by $0.12. IDEX had a net margin of 17.89% and a return on equity of 17.60%. The business had revenue of $801.00 million for the quarter, compared to the consensus estimate of $807.52 million. During the same period in the previous year, the firm earned $2.09 EPS. The company’s quarterly revenue was down 5.3% compared to the same quarter last year. On average, equities analysts expect that IDEX will post 8.34 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on IEX shares. StockNews.com lowered shares of IDEX from a buy rating to a hold rating in a report on Wednesday. Oppenheimer boosted their price target on IDEX from $245.00 to $252.00 and gave the company an outperform rating in a report on Thursday, April 18th. Royal Bank of Canada reiterated an outperform rating and set a $255.00 price target on shares of IDEX in a research report on Thursday, March 21st. Robert W. Baird cut their price objective on IDEX from $260.00 to $256.00 and set an outperform rating for the company in a research report on Thursday. Finally, Citigroup boosted their target price on IDEX from $254.00 to $277.00 and gave the company a buy rating in a report on Monday, April 8th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of Moderate Buy and an average target price of $241.67.

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.