FY2024 Earnings Estimate for IDEX Co. Issued By Zacks Research (NYSE:IEX)

IDEX Co. (NYSE:IEX) – Equities researchers at Zacks Research cut their FY2024 earnings per share (EPS) estimates for IDEX in a research note issued to investors on Tuesday, April 16th. Zacks Research analyst R. Department now forecasts that the industrial products company will earn $8.37 per share for the year, down from their previous forecast of $8.40. The consensus estimate for IDEX’s current full-year earnings is $8.35 per share. Zacks Research also issued estimates for IDEX’s Q4 2024 earnings at $2.28 EPS, Q2 2025 earnings at $2.51 EPS, Q4 2025 earnings at $2.31 EPS and Q1 2026 earnings at $2.44 EPS.

A number of other brokerages have also weighed in on IEX. Citigroup upped their target price on IDEX from $254.00 to $277.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. Oppenheimer increased their price target on IDEX from $245.00 to $252.00 and gave the company an “outperform” rating in a research report on Thursday. Royal Bank of Canada reissued an “outperform” rating and issued a $255.00 price target on shares of IDEX in a research report on Thursday, March 21st. Stifel Nicolaus raised IDEX from a “hold” rating to a “buy” rating and increased their price target for the company from $215.00 to $265.00 in a research report on Thursday, February 8th. Finally, StockNews.com raised IDEX from a “hold” rating to a “buy” rating in a research report on Tuesday. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $238.78.

IDEX Price Performance

Shares of NYSE:IEX opened at $226.10 on Thursday. The company has a quick ratio of 2.05, a current ratio of 2.89 and a debt-to-equity ratio of 0.37. IDEX has a twelve month low of $183.76 and a twelve month high of $246.36. The stock’s 50 day moving average is $236.43 and its 200-day moving average is $215.88. The firm has a market capitalization of $17.11 billion, a price-to-earnings ratio of 28.84, a PEG ratio of 2.29 and a beta of 0.97.

IDEX (NYSE:IEX) last posted its quarterly earnings results on Tuesday, February 6th. The industrial products company reported $1.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.78 by $0.05. The firm had revenue of $788.90 million for the quarter, compared to analysts’ expectations of $767.96 million. IDEX had a return on equity of 18.56% and a net margin of 18.21%. The company’s revenue for the quarter was down 2.7% compared to the same quarter last year. During the same period in the prior year, the business earned $2.01 EPS.

Institutional Investors Weigh In On IDEX

Large investors have recently made changes to their positions in the business. Nordea Investment Management AB increased its position in shares of IDEX by 1,196.4% during the 4th quarter. Nordea Investment Management AB now owns 135,825 shares of the industrial products company’s stock valued at $29,598,000 after purchasing an additional 125,348 shares during the last quarter. Impax Asset Management Group plc grew its stake in shares of IDEX by 4.0% during the 4th quarter. Impax Asset Management Group plc now owns 2,190,741 shares of the industrial products company’s stock worth $475,632,000 after acquiring an additional 84,502 shares during the period. Lincoln National Corp grew its stake in shares of IDEX by 7.1% during the 3rd quarter. Lincoln National Corp now owns 1,564 shares of the industrial products company’s stock worth $325,000 after acquiring an additional 104 shares during the period. Deutsche Bank AG grew its stake in shares of IDEX by 13.3% during the 3rd quarter. Deutsche Bank AG now owns 244,610 shares of the industrial products company’s stock worth $50,884,000 after acquiring an additional 28,661 shares during the period. Finally, Raymond James & Associates grew its stake in shares of IDEX by 11.2% during the 4th quarter. Raymond James & Associates now owns 76,465 shares of the industrial products company’s stock worth $16,601,000 after acquiring an additional 7,684 shares during the period. 97.96% of the stock is owned by hedge funds and other institutional investors.

IDEX Company Profile

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, valves, small volume provers, flow meters, injectors, and other fluid-handling pump modules and systems, as well as flow monitoring and other services for the food, chemical, general industrial, water and wastewater, agricultural, and energy industries.