IDEX Co. (IEX) Updates Q2 Earnings Guidance
IDEX Co. (NYSE:IEX) updated its second quarter earnings guidance on Wednesday. The company provided EPS guidance of $1.04 to $1.06 for the period, compared to the Thomson Reuters consensus EPS estimate of $1.01. IDEX also updated its FY17 guidance to $4.00 to $4.10 EPS.
A number of research firms have recently commented on IEX. Zacks Investment Research raised IDEX from a sell rating to a hold rating in a report on Thursday. BMO Capital Markets reaffirmed a hold rating and issued a $104.00 price target on shares of IDEX in a report on Friday. Jefferies Group LLC reaffirmed a hold rating and issued a $79.00 price target on shares of IDEX in a report on Wednesday, April 12th. Janney Montgomery Scott lowered IDEX from a buy rating to a neutral rating and set a $96.00 price target for the company. in a report on Thursday, March 2nd. Finally, Royal Bank of Canada set a $95.00 price target on IDEX and gave the stock a hold rating in a report on Tuesday, January 31st. Seven investment analysts have rated the stock with a hold rating, IDEX has an average rating of Hold and a consensus target price of $93.67.
Shares of IDEX Co. (NYSE:IEX) opened at 100.16 on Friday. The stock has a market cap of $7.64 billion, a P/E ratio of 28.37 and a beta of 1.15. The firm’s 50-day moving average price is $92.95 and its 200-day moving average price is $91.39. IDEX Co. has a 52-week low of $77.93 and a 52-week high of $100.66.
IDEX (NYSE:IEX) last posted its earnings results on Wednesday, April 19th. The industrial products company reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.10. The company had revenue of $553.60 million for the quarter, compared to analyst estimates of $533.14 million. IDEX had a net margin of 12.83% and a return on equity of 18.95%. IDEX’s revenue was up 10.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.89 EPS. Equities analysts predict that IDEX Co. will post $3.92 EPS for the current year.
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IDEX Corporation (IDEX) operates an applied solutions business that sells pumps, flow meters and other fluidics systems, and components and engineered products. The Company operates through three segments: Fluid & Metering Technologies (FMT), Health & Science Technologies (HST) and Fire & Safety/Diversified Products (FSDP).
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