IDEX (NYSE:IEX) Releases Quarterly Earnings Results, Beats Estimates By $0.12 EPS

IDEX (NYSE:IEX) issued its quarterly earnings data on Tuesday. The industrial products company reported $1.88 EPS for the quarter, beating the consensus estimate of $1.76 by $0.12, Briefing.com reports. The firm had revenue of $801.00 million during the quarter, compared to the consensus estimate 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 prior year, the firm posted $2.09 earnings per share.

IDEX Price Performance

Shares of IEX opened at $232.37 on Wednesday. The stock has a market cap of $17.59 billion, a PE ratio of 29.64, a price-to-earnings-growth ratio of 2.30 and a beta of 0.97. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.05 and a current ratio of 2.89. IDEX has a fifty-two week low of $183.76 and a fifty-two week high of $246.36. The firm’s 50-day simple moving average is $236.63 and its two-hundred day simple moving average is $216.50.

Analyst Ratings Changes

Several equities analysts have recently commented on IEX shares. Stifel Nicolaus raised shares of IDEX from a “hold” rating to a “buy” rating and upped their price objective for the company from $215.00 to $265.00 in a research note on Thursday, February 8th. Citigroup upped their price objective on shares of IDEX from $254.00 to $277.00 and gave the company a “buy” rating in a research note on Monday, April 8th. Royal Bank of Canada reiterated an “outperform” rating and set a $255.00 price target on shares of IDEX in a research report on Thursday, March 21st. Oppenheimer boosted their price target on shares of IDEX from $245.00 to $252.00 and gave the company an “outperform” rating in a research report on Thursday, April 18th. Finally, StockNews.com cut shares of IDEX from a “buy” rating to a “hold” rating in a research report on Wednesday. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price 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.