IDEX (NYSE:IEX) Releases Q2 2024 Earnings Guidance

IDEX (NYSE:IEX) issued an update on its second quarter 2024 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of 2.000-2.050 for the period, compared to the consensus estimate of 2.120. The company issued revenue guidance of -. IDEX also updated its FY 2024 guidance to 8.150-8.450 EPS.

IDEX Price Performance

Shares of IDEX stock traded up $2.48 during trading on Tuesday, hitting $232.37. 381,823 shares of the company were exchanged, compared to its average volume of 376,136. The stock has a market capitalization of $17.59 billion, a price-to-earnings ratio of 29.64, a P/E/G ratio of 2.27 and a beta of 0.97. The company has a quick ratio of 2.05, a current ratio of 2.89 and a debt-to-equity ratio of 0.37. IDEX has a fifty-two week low of $183.76 and a fifty-two week high of $246.36. The firm has a 50 day moving average price of $236.63 and a 200 day moving average price of $216.50.

IDEX (NYSE:IEX) last posted its earnings results on Tuesday, April 23rd. The industrial products company reported $1.88 earnings per share for the quarter, beating the consensus estimate of $1.76 by $0.12. The business had revenue of $801.00 million for the quarter, compared to analyst estimates of $807.52 million. IDEX had a net margin of 18.21% and a return on equity of 18.56%. The business’s quarterly revenue was down 5.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.09 EPS. On average, equities analysts expect that IDEX will post 8.34 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

IEX has been the topic of a number of recent analyst reports. Citigroup boosted their price objective on shares of IDEX from $254.00 to $277.00 and gave the stock a buy rating in a report on Monday, April 8th. Royal Bank of Canada reaffirmed an outperform rating and set a $255.00 price objective on shares of IDEX in a research report on Thursday, March 21st. Stifel Nicolaus upgraded shares of IDEX from a hold rating to a buy rating and upped their target price for the stock from $215.00 to $265.00 in a research report on Thursday, February 8th. Oppenheimer raised their price target on shares of IDEX from $245.00 to $252.00 and gave the company an outperform rating in a research note on Thursday, April 18th. Finally, StockNews.com upgraded shares of IDEX from a hold rating to a buy rating in a research note on Tuesday, April 16th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus price target of $238.78.

About IDEX

IDEX Corporation, together with its subsidiaries, provides applied solutions 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, valves, small volume provers, flow meters, injectors, and other fluid-handling pump modules and systems, as well as flow monitoring and other services for the food, chemical, general industrial, water and wastewater, agricultural, and energy industries.