Research Analysts Offer Predictions for IDEX Co.’s Q2 2019 Earnings (IEX)

IDEX Co. (NYSE:IEX) – Equities researchers at Seaport Global Securities cut their Q2 2019 earnings per share (EPS) estimates for IDEX in a report issued on Wednesday, October 24th. Seaport Global Securities analyst W. Liptak now forecasts that the industrial products company will post earnings of $1.48 per share for the quarter, down from their prior forecast of $1.53. Seaport Global Securities also issued estimates for IDEX’s FY2019 earnings at $5.75 EPS.

IEX has been the subject of several other reports. Royal Bank of Canada restated a “hold” rating and issued a $144.00 price target on shares of IDEX in a research note on Friday, July 13th. Zacks Investment Research upgraded IDEX from a “hold” rating to a “buy” rating and set a $142.00 price target for the company in a research note on Friday. Stifel Nicolaus upped their price target on IDEX from $149.00 to $150.00 and gave the stock a “hold” rating in a research note on Monday, October 8th. Boenning Scattergood initiated coverage on IDEX in a research note on Thursday, October 11th. They issued a “neutral” rating for the company. Finally, Janney Montgomery Scott upgraded IDEX from a “neutral” rating to a “buy” rating and set a $149.00 price target for the company in a research note on Thursday, October 25th. Eight investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $145.55.



IEX stock opened at $125.01 on Monday. 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 company has a market capitalization of $9.77 billion, a price-to-earnings ratio of 28.90, a price-to-earnings-growth ratio of 2.32 and a beta of 1.20.

IDEX (NYSE:IEX) last posted its quarterly earnings results on Tuesday, October 23rd. The industrial products company reported $1.41 earnings per share for the quarter, topping the Thomson Reuters’ 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 business had revenue of $623.00 million during the quarter, compared to the consensus estimate of $613.94 million. During the same period in the prior year, the company posted $1.08 EPS. The firm’s revenue for the quarter was up 8.4% compared to the same quarter last year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 31st. Stockholders of record on Tuesday, October 16th will be issued a dividend of $0.43 per share. The ex-dividend date is Monday, October 15th. This represents a $1.72 annualized dividend and a dividend yield of 1.38%. IDEX’s dividend payout ratio (DPR) is 39.91%.

In other news, VP Michael J. Yates sold 1,030 shares of the company’s stock in a transaction that occurred on Wednesday, August 29th. The stock was sold at an average price of $155.91, for a total transaction of $160,587.30. Following the sale, the vice president now directly owns 27,602 shares of the company’s stock, valued at approximately $4,303,427.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Michael J. Yates sold 5,804 shares of the company’s stock in a transaction that occurred on Tuesday, August 7th. The stock was sold at an average price of $154.13, for a total value of $894,570.52. Following the sale, the vice president now directly owns 32,376 shares in the company, valued at $4,990,112.88. The disclosure for this sale can be found here. Insiders have sold a total of 15,316 shares of company stock worth $2,350,746 over the last ninety days. Insiders own 1.20% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the company. SRS Capital Advisors Inc. raised its holdings in IDEX by 83.0% during the 2nd quarter. SRS Capital Advisors Inc. now owns 745 shares of the industrial products company’s stock valued at $101,000 after buying an additional 338 shares during the period. State Board of Administration of Florida Retirement System raised its holdings in IDEX by 0.3% during the 2nd quarter. State Board of Administration of Florida Retirement System now owns 108,678 shares of the industrial products company’s stock valued at $14,832,000 after buying an additional 340 shares during the period. US Bancorp DE raised its holdings in IDEX by 17.3% during the 2nd quarter. US Bancorp DE now owns 2,670 shares of the industrial products company’s stock valued at $364,000 after buying an additional 393 shares during the period. State Treasurer State of Michigan raised its holdings in IDEX by 1.4% during the 2nd quarter. State Treasurer State of Michigan now owns 28,300 shares of the industrial products company’s stock valued at $3,862,000 after buying an additional 400 shares during the period. Finally, MetLife Investment Advisors LLC raised its holdings in IDEX by 1.0% during the 2nd quarter. MetLife Investment Advisors LLC now owns 48,217 shares of the industrial products company’s stock valued at $6,581,000 after buying an additional 455 shares during the period. 94.97% of the stock is currently owned by institutional investors and hedge funds.

IDEX Company Profile

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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Earnings History and Estimates for IDEX (NYSE:IEX)

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