IDEX (NYSE:IEX) Updates Q4 2024 Earnings Guidance

IDEX (NYSE:IEX) issued an update on its fourth quarter 2024 earnings guidance on Tuesday morning. The company provided earnings per share guidance of 2.010-2.060 for the period, compared to the consensus earnings per share estimate of 2.030. The company issued revenue guidance of -. IDEX also updated its FY 2024 guidance to 7.850-7.900 EPS.

IDEX Stock Performance

IEX traded down $4.10 on Thursday, hitting $214.54. 984,611 shares of the company traded hands, compared to its average volume of 466,281. The company has a 50 day moving average of $206.81 and a 200-day moving average of $207.75. The company has a quick ratio of 2.52, a current ratio of 3.41 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $16.24 billion, a PE ratio of 28.08, a PEG ratio of 2.20 and a beta of 0.95. IDEX has a 12-month low of $183.76 and a 12-month high of $246.36.

IDEX (NYSE:IEX) last issued its earnings results on Tuesday, October 29th. The industrial products company reported $1.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.89 by $0.01. The business had revenue of $798.20 million during the quarter, compared to the consensus estimate of $793.05 million. IDEX had a return on equity of 16.87% and a net margin of 18.19%. The company’s revenue for the quarter was up .6% on a year-over-year basis. During the same period in the prior year, the business posted $2.12 EPS. Sell-side analysts anticipate that IDEX will post 7.87 earnings per share for the current year.

IDEX Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Friday, October 11th were paid a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.29%. The ex-dividend date of this dividend was Friday, October 11th. IDEX’s dividend payout ratio (DPR) is 36.13%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on IEX. DA Davidson cut their target price on IDEX from $220.00 to $210.00 and set a “neutral” rating for the company in a research note on Monday, August 5th. Robert W. Baird lowered their price target on IDEX from $245.00 to $241.00 and set an “outperform” rating on the stock in a report on Thursday. Royal Bank of Canada upped their price target on IDEX from $236.00 to $248.00 and gave the stock an “outperform” rating in a report on Thursday. Oppenheimer lowered their price target on IDEX from $245.00 to $238.00 and set an “outperform” rating on the stock in a report on Monday, August 5th. Finally, TD Cowen lowered their price target on IDEX from $240.00 to $230.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, IDEX currently has a consensus rating of “Moderate Buy” and an average price target of $241.14.

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.