IDEX Co. (IEX) to Issue Quarterly Dividend of $0.69 on July 26th

IDEX Co. (NYSE:IEXGet Free Report) declared a quarterly dividend on Thursday, June 20th, RTT News reports. Stockholders of record on Friday, July 12th will be paid a dividend of 0.69 per share by the industrial products company on Friday, July 26th. This represents a $2.76 annualized dividend and a dividend yield of 1.41%. The ex-dividend date of this dividend is Friday, July 12th.

IDEX has a payout ratio of 30.4% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect IDEX to earn $9.18 per share next year, which means the company should continue to be able to cover its $2.76 annual dividend with an expected future payout ratio of 30.1%.

IDEX Price Performance

IDEX stock opened at $195.24 on Wednesday. The business’s fifty day moving average is $209.04 and its two-hundred day moving average is $220.43. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.45 and a current ratio of 3.37. The firm has a market cap of $14.78 billion, a P/E ratio of 25.69, a P/E/G ratio of 1.96 and a beta of 0.95. IDEX has a 52 week low of $183.76 and a 52 week high of $246.36.

IDEX (NYSE:IEXGet Free Report) last issued its quarterly earnings results on Tuesday, April 23rd. The industrial products company reported $1.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.76 by $0.12. The business had revenue of $801.00 million for the quarter, compared to the consensus estimate of $807.52 million. IDEX had a net margin of 17.89% and a return on equity of 17.60%. The firm’s quarterly 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. Equities research analysts forecast that IDEX will post 8.31 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Robert W. Baird dropped their price objective on shares of IDEX from $260.00 to $256.00 and set an “outperform” rating for the company in a research report on Thursday, April 25th. raised IDEX from a “hold” rating to a “buy” rating in a report on Saturday, May 18th. Citigroup raised their target price on shares of IDEX from $254.00 to $277.00 and gave the company a “buy” rating in a research note on Monday, April 8th. Royal Bank of Canada restated an “outperform” rating and issued a $255.00 price objective on shares of IDEX in a report on Thursday, March 21st. Finally, Oppenheimer lifted their target price on shares of IDEX from $245.00 to $252.00 and gave the stock an “outperform” rating in a report on Thursday, April 18th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $250.71.

Read Our Latest Analysis on IEX

IDEX Company Profile

(Get Free Report)

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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Dividend History for IDEX (NYSE:IEX)

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