IDEX Corp. (IEX) Scheduled to Post Quarterly Earnings on Tuesday
IDEX Corp. (NYSE:IEX) is set to post its Q316 quarterly earnings results on Tuesday, October 18th. Analysts expect IDEX Corp. to post earnings of $0.92 per share and revenue of $536.29 million for the quarter. Individual interested in registering for the company’s earnings conference call can do so using this link.
IDEX Corp. (NYSE:IEX) last issued its quarterly earnings data on Monday, July 18th. The company reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.06. The company had revenue of $549.70 million for the quarter. IDEX Corp. had a return on equity of 19.49% and a net margin of 14.16%. During the same period in the previous year, the business posted $0.89 EPS. On average, analysts expect IDEX Corp. to post $3.74 EPS for the current fiscal year and $4.09 EPS for the next fiscal year.
IDEX Corp. (NYSE:IEX) opened at 86.41 on Monday. The firm’s 50 day moving average price is $91.75 and its 200 day moving average price is $86.88. The stock has a market cap of $6.58 billion, a price-to-earnings ratio of 22.91 and a beta of 1.16. IDEX Corp. has a one year low of $67.20 and a one year high of $95.33.
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The firm also recently announced a quarterly dividend, which will be paid on Monday, October 31st. Investors of record on Monday, October 17th will be issued a dividend of $0.34 per share. The ex-dividend date of this dividend is Thursday, October 13th. This represents a $1.36 annualized dividend and a dividend yield of 1.57%. IDEX Corp.’s payout ratio is 35.98%.
Several research firms recently weighed in on IEX. Sanford C. Bernstein restated a “market perform” rating on shares of IDEX Corp. in a report on Monday, June 27th. Zacks Investment Research upgraded shares of IDEX Corp. from a “hold” rating to a “buy” rating and set a $95.00 target price on the stock in a report on Thursday, July 14th. Royal Bank Of Canada restated a “buy” rating on shares of IDEX Corp. in a report on Tuesday, July 12th. Janney Montgomery Scott began coverage on shares of IDEX Corp. in a report on Tuesday, June 21st. They set a “neutral” rating and a $87.00 target price on the stock. Finally, Jefferies Group restated a “hold” rating on shares of IDEX Corp. in a report on Tuesday, July 19th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $85.86.
In other news, Director Gregory F. Milzcik sold 4,830 shares of the company’s stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $90.00, for a total value of $434,700.00. Following the sale, the director now owns 5,375 shares in the company, valued at approximately $483,750. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman Andrew K. Silvernail sold 6,575 shares of the company’s stock in a transaction dated Monday, August 8th. The shares were 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 in the company, valued at approximately $8,076,100.12. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by insiders.
Several large investors have recently modified their holdings of IEX. BlackRock Investment Management LLC raised its stake in shares of IDEX Corp. by 2.5% in the second quarter. BlackRock Investment Management LLC now owns 231,296 shares of the company’s stock worth $18,989,000 after buying an additional 5,620 shares during the period. BlackRock Fund Advisors raised its stake in shares of IDEX Corp. by 4.7% in the second quarter. BlackRock Fund Advisors now owns 2,656,019 shares of the company’s stock worth $218,059,000 after buying an additional 119,261 shares during the period. BlackRock Group LTD raised its stake in shares of IDEX Corp. by 1.7% in the second quarter. BlackRock Group LTD now owns 299,359 shares of the company’s stock worth $24,577,000 after buying an additional 5,115 shares during the period. Ameritas Investment Partners Inc. raised its stake in shares of IDEX Corp. by 4.1% in the second quarter. Ameritas Investment Partners Inc. now owns 12,001 shares of the company’s stock worth $985,000 after buying an additional 478 shares during the period. Finally, Engineers Gate Manager LP bought a new stake in shares of IDEX Corp. during the second quarter worth about $345,000. Institutional investors and hedge funds own 97.53% of the company’s stock.
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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