$1.49 EPS Expected for IDEX Co. (NYSE:IEX) This Quarter
Equities research analysts predict that IDEX Co. (NYSE:IEX) will post $1.49 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Seven analysts have issued estimates for IDEX’s earnings. The lowest EPS estimate is $1.47 and the highest is $1.50. IDEX posted earnings per share of $1.40 in the same quarter last year, which would indicate a positive year-over-year growth rate of 6.4%. The business is expected to issue its next quarterly earnings report after the market closes on Thursday, July 25th.
On average, analysts expect that IDEX will report full year earnings of $5.81 per share for the current fiscal year, with EPS estimates ranging from $5.73 to $5.86. For the next financial year, analysts anticipate that the company will report earnings of $6.14 per share, with EPS estimates ranging from $6.08 to $6.26. Zacks’ EPS averages are a mean average based on a survey of research analysts that cover IDEX.
IDEX (NYSE:IEX) last released its quarterly earnings results on Thursday, April 25th. The industrial products company reported $1.44 earnings per share for the quarter, topping analysts’ consensus estimates of $1.37 by $0.07. IDEX had a return on equity of 21.22% and a net margin of 16.92%. The firm had revenue of $622.20 million during the quarter, compared to the consensus estimate of $634.38 million. During the same quarter in the prior year, the firm posted $1.27 EPS. The business’s revenue was up 1.6% on a year-over-year basis.
NYSE:IEX traded down $0.44 during trading hours on Friday, reaching $164.46. 462,623 shares of the stock were exchanged, compared to its average volume of 412,665. IDEX has a twelve month low of $117.72 and a twelve month high of $173.84. The company has a current ratio of 3.33, a quick ratio of 2.45 and a debt-to-equity ratio of 0.41. The company’s 50 day simple moving average is $165.22. The stock has a market capitalization of $12.48 billion, a PE ratio of 30.40, a PEG ratio of 2.84 and a beta of 1.24.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Tuesday, July 16th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date of this dividend is Monday, July 15th. IDEX’s dividend payout ratio is currently 36.97%.
In related news, SVP Daniel J. Salliotte sold 7,125 shares of the stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $153.06, for a total value of $1,090,552.50. Following the sale, the senior vice president now owns 44,545 shares in the company, valued at approximately $6,818,057.70. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Michael J. Yates sold 15,178 shares of the stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $156.97, for a total value of $2,382,490.66. Following the completion of the sale, the vice president now owns 38,590 shares in the company, valued at approximately $6,057,472.30. The disclosure for this sale can be found here. In the last quarter, insiders have sold 103,423 shares of company stock worth $16,055,566. Company insiders own 1.20% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Cornerstone Advisors Inc. increased its position in IDEX by 64.9% during the 1st quarter. Cornerstone Advisors Inc. now owns 183 shares of the industrial products company’s stock worth $28,000 after buying an additional 72 shares during the period. Parallel Advisors LLC increased its position in IDEX by 55.7% during the 1st quarter. Parallel Advisors LLC now owns 204 shares of the industrial products company’s stock worth $31,000 after buying an additional 73 shares during the period. Meeder Asset Management Inc. increased its position in IDEX by 16.8% during the 1st quarter. Meeder Asset Management Inc. now owns 493 shares of the industrial products company’s stock worth $75,000 after buying an additional 71 shares during the period. Rockefeller Capital Management L.P. increased its position in IDEX by 303.3% during the 1st quarter. Rockefeller Capital Management L.P. now owns 855 shares of the industrial products company’s stock worth $130,000 after buying an additional 643 shares during the period. Finally, Twin Tree Management LP increased its position in IDEX by 410.7% during the 1st quarter. Twin Tree Management LP now owns 863 shares of the industrial products company’s stock worth $131,000 after buying an additional 694 shares during the period. Institutional investors and hedge funds own 94.61% of the company’s stock.
IDEX Company Profile
IDEX Corporation, through its subsidiaries, operates as an applied solutions company 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, flow meters, injectors, and other fluid-handling pump modules and systems, as well as offers flow monitoring and other services for the food, chemical, general industrial, water and wastewater, agricultural, and energy industries.
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