Zacks: Brokerages Expect IDEX Corporation (IEX) to Announce $1.06 EPS
Equities analysts forecast that IDEX Corporation (NYSE:IEX) will post $1.06 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have provided estimates for IDEX Corporation’s earnings. The lowest EPS estimate is $1.05 and the highest is $1.07. IDEX Corporation reported earnings per share of $0.92 during the same quarter last year, which would indicate a positive year over year growth rate of 15.2%. The company is scheduled to announce its next earnings report on Monday, October 16th.
According to Zacks, analysts expect that IDEX Corporation will report full-year earnings of $4.23 per share for the current fiscal year, with EPS estimates ranging from $4.17 to $4.27. For the next fiscal year, analysts forecast that the company will post earnings of $4.56 per share, with EPS estimates ranging from $4.39 to $4.77. Zacks’ earnings per share averages are an average based on a survey of sell-side research analysts that that provide coverage for IDEX Corporation.
IDEX Corporation (NYSE:IEX) last announced its earnings results on Tuesday, July 25th. The industrial products company reported $1.08 earnings per share for the quarter, beating analysts’ consensus estimates of $1.06 by $0.02. The firm had revenue of $573.40 million for the quarter, compared to analyst estimates of $568.43 million. IDEX Corporation had a net margin of 13.12% and a return on equity of 19.01%. The company’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.99 EPS.
IEX has been the topic of several recent analyst reports. Zacks Investment Research downgraded shares of IDEX Corporation from a “buy” rating to a “hold” rating in a research note on Monday, May 22nd. BMO Capital Markets reaffirmed a “hold” rating and issued a $104.00 price target on shares of IDEX Corporation in a research note on Wednesday, May 24th. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of IDEX Corporation in a research report on Wednesday, May 24th. Stifel Nicolaus reissued a “hold” rating and set a $100.00 target price on shares of IDEX Corporation in a research report on Friday, May 26th. Finally, BidaskClub raised shares of IDEX Corporation from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, June 20th. Eleven research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $107.25.
Shares of IDEX Corporation (NYSE:IEX) traded up 2.07% during midday trading on Friday, hitting $120.55. 288,389 shares of the stock were exchanged. IDEX Corporation has a 12 month low of $82.05 and a 12 month high of $120.56. The firm has a 50 day moving average of $115.52 and a 200-day moving average of $105.95. The stock has a market cap of $9.21 billion, a P/E ratio of 32.31 and a beta of 1.19.
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In other news, SVP Daniel J. Salliotte sold 6,000 shares of the firm’s stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $115.34, for a total value of $692,040.00. Following the sale, the senior vice president now directly owns 33,762 shares in the company, valued at approximately $3,894,109.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Jeffrey D. Bucklew sold 4,000 shares of the firm’s stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $116.79, for a total transaction of $467,160.00. Following the completion of the sale, the senior vice president now owns 6,726 shares in the company, valued at $785,529.54. The disclosure for this sale can be found here. Insiders have sold a total of 60,000 shares of company stock worth $6,909,200 in the last three months. Insiders own 1.00% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its holdings in shares of IDEX Corporation by 8.8% in the 2nd quarter. BlackRock Inc. now owns 6,993,420 shares of the industrial products company’s stock valued at $790,326,000 after buying an additional 568,369 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of IDEX Corporation by 2.1% in the 2nd quarter. Vanguard Group Inc. now owns 6,380,482 shares of the industrial products company’s stock valued at $721,058,000 after buying an additional 134,086 shares in the last quarter. Capital World Investors boosted its holdings in shares of IDEX Corporation by 0.4% in the 2nd quarter. Capital World Investors now owns 5,989,771 shares of the industrial products company’s stock valued at $676,904,000 after buying an additional 24,401 shares in the last quarter. Wellington Management Group LLP boosted its holdings in shares of IDEX Corporation by 1.4% in the 1st quarter. Wellington Management Group LLP now owns 2,830,339 shares of the industrial products company’s stock valued at $264,665,000 after buying an additional 39,295 shares in the last quarter. Finally, State Street Corp boosted its holdings in shares of IDEX Corporation by 20.6% in the 2nd quarter. State Street Corp now owns 2,396,039 shares of the industrial products company’s stock valued at $270,781,000 after buying an additional 409,654 shares in the last quarter. Institutional investors and hedge funds own 99.13% of the company’s stock.
IDEX Corporation Company Profile
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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