IDEX Corp. (IEX) Releases Q4 Earnings Guidance
IDEX Corp. (NYSE:IEX) updated its fourth quarter earnings guidance on Monday. The company provided earnings per share guidance of $0.92-0.94 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.95. IDEX Corp. also updated its FY16 guidance to $3.72 to $3.74 EPS.
IDEX Corp. (NYSE:IEX) traded up 0.66% during midday trading on Monday, reaching $86.98. 543,307 shares of the company traded hands. IDEX Corp. has a 1-year low of $67.20 and a 1-year high of $95.33. The stock has a market capitalization of $6.62 billion, a P/E ratio of 23.06 and a beta of 1.16. The firm has a 50-day moving average of $91.54 and a 200-day moving average of $86.96.
IDEX Corp. (NYSE:IEX) last issued its quarterly earnings data on Monday, October 17th. The company reported $0.92 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.92. IDEX Corp. had a return on equity of 19.49% and a net margin of 14.16%. The company had revenue of $530.40 million for the quarter, compared to the consensus estimate of $536.29 million. During the same quarter last year, the company earned $0.89 earnings per share. The firm’s revenue for the quarter was up 5.3% compared to the same quarter last year. On average, analysts predict that IDEX Corp. will post $3.74 earnings per share for the current year.
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The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 31st. Investors of record on Monday, October 17th will be given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date of this dividend is Thursday, October 13th. IDEX Corp.’s payout ratio is currently 35.98%.
A number of brokerages recently weighed in on IEX. Royal Bank Of Canada reaffirmed a buy rating on shares of IDEX Corp. in a research report on Tuesday, July 12th. Jefferies Group reissued a hold rating on shares of IDEX Corp. in a report on Tuesday, July 19th. Zacks Investment Research raised IDEX Corp. from a hold rating to a buy rating and set a $95.00 price target for the company in a report on Thursday, July 14th. Janney Montgomery Scott initiated coverage on IDEX Corp. in a report on Tuesday, June 21st. They issued a neutral rating and a $87.00 price target for the company. Finally, Sanford C. Bernstein reissued a market perform rating on shares of IDEX Corp. in a report on Monday, June 27th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company. IDEX Corp. has an average rating of Hold and an average target price of $85.86.
In related news, Chairman Andrew K. Silvernail sold 6,575 shares of IDEX Corp. stock in a transaction dated Monday, August 8th. The stock was sold at an average price of $91.34, for a total transaction of $600,560.50. Following the completion of the sale, the chairman now owns 88,418 shares of the company’s stock, valued at $8,076,100.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gregory F. Milzcik sold 4,830 shares of IDEX Corp. stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $90.00, for a total value of $434,700.00. Following the sale, the director now directly owns 5,375 shares of the company’s stock, valued at approximately $483,750. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the company. Pinkerton Retirement Specialists LLC bought a new position in shares of IDEX Corp. during the second quarter valued at $169,000. Cantab Capital Partners LLP boosted its position in shares of IDEX Corp. by 81.4% in the second quarter. Cantab Capital Partners LLP now owns 2,756 shares of the company’s stock valued at $226,000 after buying an additional 1,237 shares in the last quarter. Pacad Investment Ltd. bought a new position in shares of IDEX Corp. during the second quarter valued at $230,000. Gideon Capital Advisors Inc. boosted its position in shares of IDEX Corp. by 33.4% in the second quarter. Gideon Capital Advisors Inc. now owns 3,499 shares of the company’s stock valued at $287,000 after buying an additional 876 shares in the last quarter. Finally, Jefferies Group LLC boosted its position in shares of IDEX Corp. by 2.8% in the second quarter. Jefferies Group LLC now owns 4,150 shares of the company’s stock valued at $341,000 after buying an additional 114 shares in the last quarter. 97.49% of the stock is owned by hedge funds and other institutional investors.
About IDEX Corp.
IDEX Corporation (IDEX) operates an applied solutions business that sells pumps, flow meters and other fluidics systems, and components and engineered products. The Company operates through three segments: Fluid & Metering Technologies (FMT), Health & Science Technologies (HST), and Fire & Safety/Diversified Products (FSDP).
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