Analysts Issue Forecasts for IDEX Corporation’s FY2017 Earnings (IEX)
IDEX Corporation (NYSE:IEX) – Analysts at Seaport Global Securities issued their FY2017 earnings per share (EPS) estimates for IDEX Corporation in a research note issued to investors on Wednesday. Seaport Global Securities analyst W. Liptak expects that the industrial products company will post earnings of $4.26 per share for the year. Seaport Global Securities currently has a “Neutral” rating on the stock. Seaport Global Securities also issued estimates for IDEX Corporation’s Q4 2017 earnings at $1.07 EPS, Q1 2018 earnings at $1.11 EPS, Q2 2018 earnings at $1.15 EPS, Q3 2018 earnings at $1.18 EPS, Q4 2018 earnings at $1.15 EPS and FY2018 earnings at $4.59 EPS.
Several other analysts have also weighed in on IEX. Cowen and Company raised their price objective on IDEX Corporation from $80.00 to $95.00 and gave the company a “market perform” rating in a research note on Wednesday, July 5th. Zacks Investment Research raised IDEX Corporation from a “hold” rating to a “buy” rating and set a $128.00 price objective on the stock in a research note on Tuesday, July 11th. BidaskClub lowered IDEX Corporation from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 25th. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $115.00 price objective (up from $109.00) on shares of IDEX Corporation in a research note on Thursday, July 27th. Finally, BMO Capital Markets reaffirmed a “hold” rating and issued a $110.00 price objective on shares of IDEX Corporation in a research note on Friday, July 28th. Eleven analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $113.78.
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Shares of IDEX Corporation (NYSE:IEX) traded up 0.79% on Friday, reaching $125.62. 7,402 shares of the company traded hands. IDEX Corporation has a one year low of $82.05 and a one year high of $125.78. The firm’s 50 day moving average is $122.23 and its 200 day moving average is $112.24. The company has a market capitalization of $9.59 billion, a P/E ratio of 32.20 and a beta of 1.19.
IDEX Corporation (NYSE:IEX) last issued its earnings results on Monday, October 16th. The industrial products company reported $1.08 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.06 by $0.02. The company had revenue of $574.50 million for the quarter, compared to the consensus estimate of $563.23 million. IDEX Corporation had a net margin of 13.48% and a return on equity of 19.07%. The firm’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.92 EPS.
Several hedge funds have recently made changes to their positions in IEX. Toronto Dominion Bank acquired a new stake in shares of IDEX Corporation during the second quarter valued at about $106,000. Strs Ohio acquired a new stake in shares of IDEX Corporation during the second quarter valued at about $112,000. Acrospire Investment Management LLC boosted its stake in shares of IDEX Corporation by 1,000.0% during the second quarter. Acrospire Investment Management LLC now owns 1,100 shares of the industrial products company’s stock valued at $124,000 after purchasing an additional 1,000 shares in the last quarter. Robeco Institutional Asset Management B.V. acquired a new stake in shares of IDEX Corporation during the second quarter valued at about $134,000. Finally, IHT Wealth Management LLC boosted its stake in shares of IDEX Corporation by 258.5% during the second quarter. IHT Wealth Management LLC now owns 527 shares of the industrial products company’s stock valued at $165,000 after purchasing an additional 380 shares in the last quarter. 98.49% of the stock is currently owned by hedge funds and other institutional investors.
In other news, SVP Daniel J. Salliotte sold 6,000 shares of IDEX Corporation stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $115.34, for a total transaction of $692,040.00. Following the sale, the senior vice president now directly owns 33,762 shares of the company’s stock, valued at $3,894,109.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Andrew K. Silvernail sold 50,000 shares of IDEX Corporation stock in a transaction dated 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 sale, the chairman now directly owns 142,114 shares in the company, valued at $16,343,110. The disclosure for this sale can be found here. Insiders have sold 60,000 shares of company stock worth $6,909,200 over the last three months. Insiders own 1.00% of the company’s stock.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 31st. Stockholders of record on Monday, October 16th will be paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date of this dividend is Friday, October 13th. IDEX Corporation’s payout ratio is 37.95%.
IDEX Corporation Company Profile
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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