IDEX Corporation (IEX) Updates FY17 Earnings Guidance
IDEX Corporation (NYSE:IEX) issued an update on its FY17 earnings guidance on Monday morning. The company provided earnings per share guidance of $4.25-4.27 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $4.23. IDEX Corporation also updated its Q4 guidance to $1.06-1.08 EPS.
IDEX Corporation (NYSE IEX) opened at 124.20 on Wednesday. The firm has a market cap of $9.49 billion, a P/E ratio of 33.29 and a beta of 1.19. The stock has a 50 day moving average price of $121.35 and a 200 day moving average price of $111.60. IDEX Corporation has a 1-year low of $82.05 and a 1-year high of $125.59.
IDEX Corporation (NYSE:IEX) last issued its quarterly earnings results on Monday, October 16th. The industrial products company reported $1.08 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.06 by $0.02. The firm had revenue of $574.50 million during the quarter, compared to the consensus estimate of $563.23 million. IDEX Corporation had a return on equity of 19.58% and a net margin of 13.48%. The company’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same quarter last year, the company posted $0.92 EPS. On average, analysts anticipate that IDEX Corporation will post $4.24 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 31st. Stockholders of record on Monday, October 16th will be given a dividend of $0.37 per share. The ex-dividend date of this dividend is Friday, October 13th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.19%. IDEX Corporation’s dividend payout ratio (DPR) is presently 37.95%.
A number of analysts recently weighed in on the company. SunTrust Banks, Inc. restated a hold rating and issued a $118.00 target price on shares of IDEX Corporation in a research report on Tuesday. Jefferies Group LLC restated a hold rating and issued a $91.00 target price on shares of IDEX Corporation in a research report on Friday, August 4th. Robert W. Baird restated a buy rating and issued a $129.00 target price on shares of IDEX Corporation in a research report on Wednesday, October 4th. BidaskClub downgraded IDEX Corporation from a buy rating to a hold rating in a research report on Saturday, August 12th. Finally, Cowen and Company restated a hold rating and issued a $95.00 target price on shares of IDEX Corporation in a research report on Friday, October 6th. Eleven equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock has a consensus rating of Hold and an average price target of $112.56.
In other IDEX Corporation news, SVP Jeffrey D. Bucklew sold 4,000 shares of the business’s stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $116.79, for a total value of $467,160.00. Following the completion of the sale, the senior vice president now owns 6,726 shares in the company, valued at $785,529.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Andrew K. Silvernail sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, July 27th. The shares were sold at an average price of $115.00, for a total value of $5,750,000.00. Following the completion of the sale, the chairman now owns 142,114 shares of the company’s stock, valued at approximately $16,343,110. The disclosure for this sale can be found here. Insiders sold 60,000 shares of company stock valued at $6,909,200 in the last quarter. Corporate insiders own 1.00% of the company’s stock.
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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