IDEX (NYSE:IEX) Releases FY24 Earnings Guidance

IDEX (NYSE:IEX) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $8.15-$8.45 for the period, compared to the consensus estimate of $8.33. IDEX also updated its FY 2024 guidance to 8.150-8.450 EPS.

Analyst Upgrades and Downgrades

IEX has been the topic of a number of analyst reports. Stifel Nicolaus raised IDEX from a hold rating to a buy rating and boosted their price target for the stock from $215.00 to $265.00 in a research report on Thursday, February 8th. Royal Bank of Canada restated an outperform rating and set a $255.00 price target on shares of IDEX in a report on Thursday, March 21st. Oppenheimer upped their price target on shares of IDEX from $245.00 to $252.00 and gave the stock an outperform rating in a research note on Thursday, April 18th. StockNews.com lowered shares of IDEX from a buy rating to a hold rating in a research note on Wednesday. Finally, Citigroup upped their target price on shares of IDEX from $254.00 to $277.00 and gave the stock a buy rating in a research note on Monday, April 8th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average price target of $238.78.

IDEX Stock Performance

Shares of NYSE IEX traded down $7.73 during trading on Wednesday, reaching $224.54. 336,630 shares of the company traded hands, compared to its average volume of 375,447. The company has a quick ratio of 2.05, a current ratio of 2.89 and a debt-to-equity ratio of 0.37. The firm has a 50 day simple moving average of $236.63 and a 200-day simple moving average of $216.50. IDEX has a 52-week low of $183.76 and a 52-week high of $246.36. The stock has a market capitalization of $17.00 billion, a PE ratio of 29.52, a P/E/G ratio of 2.30 and a beta of 0.97.

IDEX (NYSE:IEX) last announced its earnings results on Tuesday, April 23rd. The industrial products company reported $1.88 earnings per share for the quarter, beating analysts’ consensus estimates of $1.76 by $0.12. The business had revenue of $801.00 million during 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 company’s quarterly revenue was down 5.3% compared to the same quarter last year. During the same period in the previous year, the business earned $2.09 EPS. Equities research analysts anticipate that IDEX will post 8.34 earnings per share for the current year.

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.