IDEX (NYSE:IEX) Issues Q3 2022 Earnings Guidance

IDEX (NYSE:IEXGet Rating) updated its third quarter 2022 earnings guidance on Thursday. The company provided EPS guidance of $1.98-$2.03 for the period, compared to the consensus EPS estimate of $1.91. The company issued revenue guidance of -.

IDEX Trading Up 1.3 %

IDEX stock traded up $2.67 during trading hours on Friday, reaching $208.75. The company had a trading volume of 470,932 shares, compared to its average volume of 440,061. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.59 and a quick ratio of 2.68. IDEX has a 12-month low of $172.18 and a 12-month high of $240.33. The company has a 50-day moving average price of $187.00 and a 200 day moving average price of $192.78. The firm has a market cap of $15.87 billion, a price-to-earnings ratio of 33.51, a P/E/G ratio of 2.10 and a beta of 1.02.

IDEX (NYSE:IEXGet Rating) last issued its earnings results on Tuesday, July 26th. The industrial products company reported $2.02 EPS for the quarter, topping the consensus estimate of $1.89 by $0.13. IDEX had a net margin of 16.65% and a return on equity of 18.61%. During the same period in the prior year, the business earned $1.61 EPS. Equities analysts forecast that IDEX will post 7.66 earnings per share for the current year.

IDEX Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 29th. Stockholders of record on Friday, July 15th were issued a dividend of $0.60 per share. The ex-dividend date was Thursday, July 14th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.15%. IDEX’s dividend payout ratio is currently 38.52%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Royal Bank of Canada restated a maintains rating on shares of IDEX in a report on Thursday. Citigroup upped their target price on IDEX from $219.00 to $228.00 in a report on Thursday. Stifel Nicolaus cut shares of IDEX from a buy rating to a hold rating and cut their price target for the company from $229.00 to $188.00 in a report on Monday, July 18th. Oppenheimer upgraded shares of IDEX from a market perform rating to an outperform rating and set a $215.00 price objective for the company in a report on Thursday, July 14th. Finally, upgraded shares of IDEX from a hold rating to a buy rating in a research report on Friday, July 22nd. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus price target of $218.45.

Hedge Funds Weigh In On IDEX

Several large investors have recently made changes to their positions in IEX. Toroso Investments LLC increased its position in shares of IDEX by 8.3% during the first quarter. Toroso Investments LLC now owns 5,970 shares of the industrial products company’s stock valued at $1,145,000 after acquiring an additional 457 shares in the last quarter. BNP Paribas Arbitrage SA grew its position in IDEX by 7.6% in the 1st quarter. BNP Paribas Arbitrage SA now owns 118,856 shares of the industrial products company’s stock worth $22,788,000 after purchasing an additional 8,397 shares during the period. Beacon Pointe Advisors LLC bought a new stake in IDEX in the 1st quarter worth approximately $205,000. Quantbot Technologies LP grew its position in IDEX by 158.0% in the 1st quarter. Quantbot Technologies LP now owns 14,877 shares of the industrial products company’s stock worth $2,852,000 after purchasing an additional 9,111 shares during the period. Finally, Royal Bank of Canada grew its position in IDEX by 11.3% in the 1st quarter. Royal Bank of Canada now owns 206,677 shares of the industrial products company’s stock worth $39,626,000 after purchasing an additional 20,937 shares during the period. 96.95% of the stock is currently owned by hedge funds and other institutional investors.

About IDEX

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IDEX Corporation, together with its subsidiaries, provides applied solutions worldwide. The company operates through three segments: Fluid & Metering Technologies (FMT), Health & Science Technologies (HST), and Fire & Safety/Diversified Products (FSDP). The FMT segment designs, produces, and distributes positive displacement pumps, small volume provers, flow meters, injectors, and other fluid-handling pump modules and systems, as well as offers flow monitoring and other services for the food, chemical, general industrial, water and wastewater, agricultural, and energy industries.

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Earnings History and Estimates for IDEX (NYSE:IEX)

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