IDEX Co. (IEX) Expected to Post Earnings of $1.27 Per Share

Wall Street brokerages forecast that IDEX Co. (NYSE:IEX) will post earnings per share of $1.27 for the current quarter, according to Zacks. Eight analysts have made estimates for IDEX’s earnings. The highest EPS estimate is $1.27 and the lowest is $1.26. IDEX posted earnings per share of $1.12 in the same quarter last year, which suggests a positive year-over-year growth rate of 13.4%. The company is scheduled to announce its next quarterly earnings results on Monday, February 4th.

On average, analysts expect that IDEX will report full-year earnings of $5.36 per share for the current fiscal year, with EPS estimates ranging from $5.32 to $5.37. For the next financial year, analysts expect that the firm will report earnings of $5.77 per share, with EPS estimates ranging from $5.67 to $5.85. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research analysts that cover IDEX.

IDEX (NYSE:IEX) last issued its quarterly earnings results on Tuesday, October 23rd. The industrial products company reported $1.41 earnings per share for the quarter, topping the consensus estimate of $1.31 by $0.10. IDEX had a return on equity of 20.40% and a net margin of 16.54%. The firm had revenue of $623.00 million for the quarter, compared to the consensus estimate of $613.94 million. During the same period in the prior year, the business posted $1.08 earnings per share. The company’s revenue for the quarter was up 8.4% on a year-over-year basis.

IEX has been the topic of several research reports. Royal Bank of Canada restated a “hold” rating and set a $144.00 price objective on shares of IDEX in a report on Friday, July 13th. Robert W. Baird reaffirmed a “buy” rating and set a $143.00 target price on shares of IDEX in a research report on Friday, July 20th. Cowen reaffirmed a “hold” rating and set a $130.00 target price on shares of IDEX in a research report on Tuesday, July 24th. Oppenheimer reaffirmed a “hold” rating on shares of IDEX in a research report on Wednesday, July 25th. Finally, Wells Fargo & Co reaffirmed a “buy” rating and set a $170.00 target price (up previously from $165.00) on shares of IDEX in a research report on Wednesday, July 25th. Eight investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $145.55.

In related news, VP Michael J. Yates sold 3,143 shares of the firm’s stock in a transaction on Monday, August 27th. The stock was sold at an average price of $153.00, for a total value of $480,879.00. Following the completion of the transaction, the vice president now owns 29,715 shares in the company, valued at approximately $4,546,395. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO William K. Grogan sold 3,406 shares of the firm’s stock in a transaction on Tuesday, August 14th. The stock was sold at an average price of $152.90, for a total value of $520,777.40. Following the completion of the transaction, the chief financial officer now owns 5,485 shares of the company’s stock, valued at approximately $838,656.50. The disclosure for this sale can be found here. Insiders sold a total of 7,579 shares of company stock valued at $1,162,244 in the last three months. Insiders own 1.20% of the company’s stock.

Hedge funds have recently modified their holdings of the stock. Capital Fund Management S.A. purchased a new position in shares of IDEX during the 2nd quarter valued at about $3,508,000. Swiss National Bank boosted its holdings in IDEX by 3.5% in the 2nd quarter. Swiss National Bank now owns 252,800 shares of the industrial products company’s stock worth $34,502,000 after buying an additional 8,600 shares during the last quarter. Andra AP fonden acquired a new stake in IDEX in the 2nd quarter worth about $3,699,000. GAM Holding AG acquired a new stake in IDEX in the 2nd quarter worth about $344,000. Finally, Qube Research & Technologies Ltd acquired a new stake in IDEX in the 2nd quarter worth about $155,000. Institutional investors own 94.83% of the company’s stock.

IEX traded down $1.00 during trading on Friday, hitting $135.53. 284,378 shares of the stock were exchanged, compared to its average volume of 553,421. The company has a market capitalization of $10.63 billion, a P/E ratio of 31.45, a PEG ratio of 2.52 and a beta of 1.31. IDEX has a 1 year low of $123.47 and a 1 year high of $157.84. The company has a quick ratio of 2.41, a current ratio of 3.21 and a debt-to-equity ratio of 0.41.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 31st. Stockholders of record on Tuesday, October 16th were given a $0.43 dividend. The ex-dividend date was Monday, October 15th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 1.27%. IDEX’s payout ratio is 39.91%.

About IDEX

IDEX Corporation, through its subsidiaries, provides various pumps, valves, flow meters, other fluidics systems and components, and engineered products worldwide. Its Fluid & Metering Technologies segment designs, produces, and distributes positive displacement pumps, flow meters, injectors, other fluid-handling pump modules and systems, and specialty valve products, as well as offers flow monitoring and other services for food, chemical, general industrial, water and wastewater, agricultural, and energy industries.

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