Seaport Res Ptn Research Analysts Lower Earnings Estimates for IDEX Co. (NYSE:IEX)

IDEX Co. (NYSE:IEX) – Seaport Res Ptn dropped their Q2 2024 earnings per share estimates for shares of IDEX in a research report issued to clients and investors on Friday, April 26th. Seaport Res Ptn analyst W. Liptak now forecasts that the industrial products company will post earnings of $2.03 per share for the quarter, down from their prior estimate of $2.15. The consensus estimate for IDEX’s current full-year earnings is $8.33 per share. Seaport Res Ptn also issued estimates for IDEX’s FY2024 earnings at $8.23 EPS, Q1 2025 earnings at $2.04 EPS, Q2 2025 earnings at $2.33 EPS, Q3 2025 earnings at $2.44 EPS, Q4 2025 earnings at $2.42 EPS and FY2025 earnings at $9.24 EPS.

IDEX (NYSE:IEX) last issued its quarterly earnings results on Tuesday, April 23rd. The industrial products company reported $1.88 earnings per share for the quarter, beating analysts’ consensus estimates of $1.76 by $0.12. IDEX had a net margin of 17.89% and a return on equity of 17.60%. The company had revenue of $801.00 million during the quarter, compared to the consensus estimate of $807.52 million. During the same period in the prior year, the company earned $2.09 EPS. IDEX’s revenue was down 5.3% on a year-over-year basis.

IEX has been the topic of a number of other reports. Stifel Nicolaus raised IDEX from a “hold” rating to a “buy” rating and boosted their target price for the stock from $215.00 to $265.00 in a research report on Thursday, February 8th. Citigroup upped their price objective on shares of IDEX from $254.00 to $277.00 and gave the company a “buy” rating in a research note on Monday, April 8th. StockNews.com lowered shares of IDEX from a “buy” rating to a “hold” rating in a report on Wednesday, April 24th. Oppenheimer raised their price objective on shares of IDEX from $245.00 to $252.00 and gave the stock an “outperform” rating in a research note on Thursday, April 18th. Finally, Robert W. Baird lowered their price objective on shares of IDEX from $260.00 to $256.00 and set an “outperform” rating on the stock in a research report on Thursday. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, IDEX currently has an average rating of “Moderate Buy” and a consensus price target of $250.71.

IDEX Trading Down 1.2 %

IDEX stock opened at $220.66 on Monday. IDEX has a 1 year low of $183.76 and a 1 year high of $246.36. The firm’s 50 day moving average price is $236.36 and its two-hundred day moving average price is $216.80. The firm has a market cap of $16.70 billion, a price-to-earnings ratio of 29.03, a price-to-earnings-growth ratio of 2.20 and a beta of 0.97. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.05 and a current ratio of 3.37.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Oak Thistle LLC acquired a new stake in shares of IDEX in the 3rd quarter valued at $439,000. Czech National Bank boosted its stake in shares of IDEX by 47.7% during the 3rd quarter. Czech National Bank now owns 13,213 shares of the industrial products company’s stock worth $2,749,000 after acquiring an additional 4,267 shares in the last quarter. Asset Management One Co. Ltd. increased its holdings in shares of IDEX by 3.7% during the 3rd quarter. Asset Management One Co. Ltd. now owns 31,823 shares of the industrial products company’s stock valued at $6,620,000 after acquiring an additional 1,137 shares during the last quarter. Commonwealth Equity Services LLC raised its stake in shares of IDEX by 1.3% in the 3rd quarter. Commonwealth Equity Services LLC now owns 4,289 shares of the industrial products company’s stock valued at $892,000 after acquiring an additional 53 shares in the last quarter. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its holdings in IDEX by 17.3% in the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 28,418 shares of the industrial products company’s stock worth $5,912,000 after purchasing an additional 4,200 shares during the last quarter. 97.96% of the stock is owned by institutional investors and hedge funds.

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.