Seaport Res Ptn Brokers Reduce Earnings Estimates for IDEX Co. (NYSE:IEX)

IDEX Co. (NYSE:IEX) – Investment analysts at Seaport Res Ptn decreased their Q2 2024 earnings estimates for shares of IDEX in a research note issued to investors on Friday, April 26th. Seaport Res Ptn analyst W. Liptak now anticipates that the industrial products company will earn $2.03 per share for the quarter, down from their prior forecast of $2.15. The consensus estimate for IDEX’s current full-year earnings is $8.33 per share. Seaport Res Ptn also issued estimates for IDEX’s FY2024 earnings at $8.23 EPS, Q1 2025 earnings at $2.04 EPS, Q2 2025 earnings at $2.33 EPS, Q3 2025 earnings at $2.44 EPS, Q4 2025 earnings at $2.42 EPS and FY2025 earnings at $9.24 EPS.

IEX has been the subject of a number of other research reports. Citigroup increased their target price on IDEX from $254.00 to $277.00 and gave the stock a “buy” rating in a report on Monday, April 8th. Oppenheimer raised their price objective on IDEX from $245.00 to $252.00 and gave the company an “outperform” rating in a report on Thursday, April 18th. Robert W. Baird decreased their price objective on IDEX from $260.00 to $256.00 and set an “outperform” rating for the company in a report on Thursday, April 25th. Stifel Nicolaus upgraded shares of IDEX from a “hold” rating to a “buy” rating and raised their target price for the company from $215.00 to $265.00 in a research note on Thursday, February 8th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $255.00 target price on shares of IDEX in a research note on Thursday, March 21st. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $250.71.

IDEX Price Performance

IEX stock opened at $220.46 on Monday. The stock has a 50-day moving average price of $236.29 and a two-hundred day moving average price of $216.93. The stock has a market cap of $16.69 billion, a PE ratio of 29.01, a price-to-earnings-growth ratio of 2.21 and a beta of 0.97. The company has a current ratio of 3.37, a quick ratio of 2.45 and a debt-to-equity ratio of 0.37. IDEX has a 1 year low of $183.76 and a 1 year high of $246.36.

IDEX (NYSE:IEX) last released its earnings results on Tuesday, April 23rd. The industrial products company reported $1.88 earnings per share (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 analysts’ expectations 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 quarter in the prior year, the company earned $2.09 EPS.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Albert D Mason Inc. increased its stake in IDEX by 1.0% in the first quarter. Albert D Mason Inc. now owns 4,509 shares of the industrial products company’s stock valued at $1,100,000 after acquiring an additional 45 shares during the last quarter. Commonwealth Equity Services LLC increased its stake in IDEX by 1.3% in the third quarter. Commonwealth Equity Services LLC now owns 4,289 shares of the industrial products company’s stock valued at $892,000 after acquiring an additional 53 shares during the last quarter. DB Fitzpatrick & Co Inc increased its stake in IDEX by 2.1% in the third quarter. DB Fitzpatrick & Co Inc now owns 2,766 shares of the industrial products company’s stock valued at $575,000 after acquiring an additional 56 shares during the last quarter. Jacobson & Schmitt Advisors LLC increased its stake in IDEX by 5.0% in the third quarter. Jacobson & Schmitt Advisors LLC now owns 1,242 shares of the industrial products company’s stock valued at $258,000 after acquiring an additional 59 shares during the last quarter. Finally, Czech National Bank grew its stake in shares of IDEX by 0.5% during the first quarter. Czech National Bank now owns 13,306 shares of the industrial products company’s stock worth $3,247,000 after buying an additional 61 shares during the last quarter. 97.96% of the stock is owned by institutional investors.

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.