IDEX Corp. (IEX) Issues Q1 Earnings Guidance
IDEX Corp. (NYSE:IEX) issued an update on its first quarter earnings guidance on Wednesday morning. The company provided earnings per share guidance of $0.83-0.85 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.81, Stock Ratings Network reports. IDEX Corp. also updated its FY14 guidance to $3.33-3.43 EPS.
On a related note, analysts at Cowen and Company initiated coverage on shares of IDEX Corp. in a research note to investors on Tuesday, November 19th. They set a market perform rating and a $68.00 price target on the stock. Eight research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The company has an average rating of Hold and a consensus target price of $62.60.
Shares of IDEX Corp. (NYSE:IEX) traded down 0.63% on Wednesday, hitting $69.08. 671,028 shares of the company’s stock traded hands. IDEX Corp. has a one year low of $48.02 and a one year high of $74.53. The stock has a 50-day moving average of $72.3 and a 200-day moving average of $66.55. The company has a market cap of $5.604 billion and a P/E ratio of 83.86.
IDEX Corp. (NYSE:IEX) last issued its quarterly earnings data on Thursday, January 30th. The company reported $0.82 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.80 by $0.02. The company had revenue of $521.00 million for the quarter, compared to the consensus estimate of $520.23 million. During the same quarter last year, the company posted $0.69 earnings per share. IDEX Corp.’s revenue was up 6.1% compared to the same quarter last year. On average, analysts predict that IDEX Corp. will post $3.06 earnings per share for the current fiscal year.
In other IDEX Corp. news, Director Michael Tokarz unloaded 2,586 shares of IDEX Corp. stock on the open market in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $73.72, for a total transaction of $190,639.92. Following the transaction, the director now directly owns 333,031 shares in the company, valued at approximately $24,551,045. The transaction was disclosed in a filing with the SEC, which is available at this link.
IDEX Corporation (NYSE:IEX) is an applied solutions business that sells an array of pumps, flow meters and other fluidics systems and components and engineered products to customers in a variety of markets worldwide.
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