$0.98 Earnings Per Share Expected for IDEX Co. (NYSE:IEX) This Quarter

Equities research analysts expect IDEX Co. (NYSE:IEX) to announce earnings per share (EPS) of $0.98 for the current fiscal quarter, according to Zacks. Five analysts have provided estimates for IDEX’s earnings, with the highest EPS estimate coming in at $1.37 and the lowest estimate coming in at $0.83. IDEX posted earnings per share of $1.50 during the same quarter last year, which indicates a negative year over year growth rate of 34.7%. The firm is scheduled to issue its next earnings results after the market closes on Thursday, July 23rd.

According to Zacks, analysts expect that IDEX will report full-year earnings of $4.66 per share for the current financial year, with EPS estimates ranging from $3.95 to $5.42. For the next fiscal year, analysts expect that the firm will report earnings of $5.19 per share, with EPS estimates ranging from $4.80 to $5.61. Zacks Investment Research’s EPS calculations are an average based on a survey of research analysts that follow IDEX.

IDEX (NYSE:IEX) last issued its earnings results on Thursday, April 23rd. The industrial products company reported $1.33 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.30 by $0.03. The firm had revenue of $594.50 million during the quarter, compared to the consensus estimate of $596.77 million. IDEX had a return on equity of 19.89% and a net margin of 16.92%. The business’s quarterly revenue was down 4.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.44 earnings per share.

Several analysts have recently weighed in on the company. Royal Bank of Canada restated a “buy” rating and set a $160.00 price target on shares of IDEX in a report on Monday, April 27th. DA Davidson reduced their price target on IDEX from $145.00 to $140.00 and set a “neutral” rating on the stock in a report on Friday, April 24th. Rosenblatt Securities boosted their price target on IDEX from $170.00 to $172.00 and gave the stock a “buy” rating in a report on Thursday. Wells Fargo & Co boosted their price target on IDEX from $160.00 to $178.00 and gave the stock an “overweight” rating in a report on Monday, April 27th. Finally, Seaport Global Securities upgraded IDEX from a “neutral” rating to a “buy” rating and set a $150.00 price target on the stock in a report on Friday, March 20th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $165.25.

In other IDEX news, SVP Jeffrey D. Bucklew sold 500 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $155.50, for a total value of $77,750.00. Following the transaction, the senior vice president now directly owns 4,934 shares of the company’s stock, valued at $767,237. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Denise R. Cade sold 2,200 shares of the business’s stock in a transaction that occurred on Wednesday, April 29th. The shares were sold at an average price of $160.00, for a total value of $352,000.00. Following the completion of the transaction, the senior vice president now directly owns 10,525 shares in the company, valued at $1,684,000. The disclosure for this sale can be found here. Over the last three months, insiders sold 42,390 shares of company stock worth $6,760,339. Insiders own 1.10% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the business. Banque Cantonale Vaudoise acquired a new position in shares of IDEX during the fourth quarter worth approximately $255,000. Amalgamated Bank raised its position in shares of IDEX by 8.4% during the fourth quarter. Amalgamated Bank now owns 19,640 shares of the industrial products company’s stock worth $3,378,000 after purchasing an additional 1,524 shares during the period. Two Sigma Investments LP acquired a new position in shares of IDEX during the first quarter worth approximately $1,110,000. GHP Investment Advisors Inc. raised its position in shares of IDEX by 3.5% during the first quarter. GHP Investment Advisors Inc. now owns 11,842 shares of the industrial products company’s stock worth $1,635,000 after purchasing an additional 404 shares during the period. Finally, Mackenzie Financial Corp raised its position in shares of IDEX by 19.0% during the first quarter. Mackenzie Financial Corp now owns 1,461 shares of the industrial products company’s stock worth $202,000 after purchasing an additional 233 shares during the period. 95.44% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE:IEX traded up $2.05 during midday trading on Friday, hitting $157.89. 347,155 shares of the stock were exchanged, compared to its average volume of 511,824. The stock has a market capitalization of $11.90 billion, a price-to-earnings ratio of 29.02, a P/E/G ratio of 3.39 and a beta of 1.06. The company has a debt-to-equity ratio of 0.45, a quick ratio of 2.59 and a current ratio of 3.51. The business’s 50-day moving average price is $155.42 and its 200 day moving average price is $156.69. IDEX has a 12 month low of $104.56 and a 12 month high of $178.14.

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Thursday, July 16th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.27%. The ex-dividend date of this dividend is Wednesday, July 15th. IDEX’s dividend payout ratio (DPR) is presently 34.48%.

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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Earnings History and Estimates for IDEX (NYSE:IEX)

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