IDEX Corporation (IEX) Releases Q4 Earnings Guidance
IDEX Corporation (NYSE:IEX) updated its fourth quarter earnings guidance on Monday. The company provided earnings per share (EPS) guidance of $1.06-1.08 for the period, compared to the Thomson Reuters consensus estimate of $1.06. IDEX Corporation also updated its FY17 guidance to $4.25-4.27 EPS.
A number of research analysts have recently weighed in on IEX shares. Zacks Investment Research raised IDEX Corporation from a hold rating to a buy rating and set a $138.00 price target for the company in a research report on Thursday, September 21st. Stifel Nicolaus reaffirmed a hold rating and set a $120.00 price target on shares of IDEX Corporation in a research report on Sunday, September 3rd. Cowen and Company reaffirmed a hold rating and set a $95.00 price target on shares of IDEX Corporation in a research report on Friday, October 6th. BidaskClub raised IDEX Corporation from a buy rating to a strong-buy rating in a research report on Tuesday, June 20th. Finally, Robert W. Baird reaffirmed a buy rating and set a $129.00 price target on shares of IDEX Corporation in a research report on Wednesday, October 4th. Ten investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. IDEX Corporation has an average rating of Hold and an average price target of $111.88.
IDEX Corporation (NYSE:IEX) traded up 0.43% during midday trading on Monday, reaching $125.06. The company had a trading volume of 314,969 shares. IDEX Corporation has a 52 week low of $82.05 and a 52 week high of $125.59. The firm has a 50-day moving average price of $121.35 and a 200-day moving average price of $111.60. The company has a market capitalization of $9.56 billion, a price-to-earnings ratio of 33.52 and a beta of 1.19.
IDEX Corporation (NYSE:IEX) last posted its earnings results on Tuesday, July 25th. The industrial products company reported $1.08 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.02. The company had revenue of $573.40 million for the quarter, compared to analyst estimates of $568.43 million. IDEX Corporation had a net margin of 13.12% and a return on equity of 19.01%. During the same period in the previous year, the business posted $0.99 EPS. IDEX Corporation’s revenue was up 4.3% on a year-over-year basis. Analysts expect that IDEX Corporation will post $4.24 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 31st. Stockholders of record on Monday, October 16th will be issued a $0.37 dividend. The ex-dividend date of this dividend is Friday, October 13th. This represents a $1.48 annualized dividend and a dividend yield of 1.18%. IDEX Corporation’s dividend payout ratio is currently 39.68%.
In other IDEX Corporation news, SVP Daniel J. Salliotte sold 6,000 shares of the stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $115.34, for a total value of $692,040.00. Following the sale, the senior vice president now directly owns 33,762 shares of the company’s stock, valued at approximately $3,894,109.08. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Jeffrey D. Bucklew sold 4,000 shares of the stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $116.79, for a total transaction of $467,160.00. Following the completion of the sale, the senior vice president now directly owns 6,726 shares in the company, valued at $785,529.54. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 60,000 shares of company stock worth $6,909,200. 1.00% of the stock is owned by company insiders.
About IDEX Corporation
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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