IDEX Corp. (IEX) to Release Earnings on Tuesday
IDEX Corp. (NYSE:IEX) is set to release its Q316 earnings data on Tuesday, October 18th. Analysts expect IDEX Corp. to post earnings of $0.92 per share and revenue of $536.29 million for the quarter. Persons interested in listening to the company’s earnings conference call can do so using this link.
IDEX Corp. (NYSE:IEX) last posted its earnings results on Monday, July 18th. The company reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.06. The business had revenue of $549.70 million for the quarter. IDEX Corp. had a return on equity of 19.49% and a net margin of 14.16%. During the same period in the previous year, the firm posted $0.89 earnings per share. On average, analysts expect IDEX Corp. to post $3.74 EPS for the current fiscal year and $4.09 EPS for the next fiscal year.
IDEX Corp. (NYSE:IEX) opened at 86.45 on Friday. The firm has a market capitalization of $6.58 billion, a price-to-earnings ratio of 22.92 and a beta of 1.16. IDEX Corp. has a 12-month low of $67.20 and a 12-month high of $95.33. The company’s 50 day moving average price is $91.97 and its 200-day moving average price is $86.85.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 31st. Shareholders of record on Monday, October 17th will be given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date is Thursday, October 13th. IDEX Corp.’s dividend payout ratio is currently 35.98%.
IEX has been the subject of several recent research reports. Janney Montgomery Scott initiated coverage on IDEX Corp. in a research report on Tuesday, June 21st. They issued a “neutral” rating and a $87.00 price target for the company. Zacks Investment Research lowered IDEX Corp. from a “buy” rating to a “hold” rating in a research note on Tuesday, June 21st. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of IDEX Corp. in a research note on Monday, June 27th. Royal Bank Of Canada reaffirmed a “buy” rating on shares of IDEX Corp. in a research note on Tuesday, July 12th. Finally, Jefferies Group reaffirmed a “hold” rating on shares of IDEX Corp. in a research note on Tuesday, July 19th. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $85.86.
In other news, Chairman Andrew K. Silvernail sold 6,575 shares of the stock in a transaction on Monday, August 8th. The stock was sold at an average price of $91.34, for a total transaction of $600,560.50. Following the transaction, the chairman now directly owns 88,418 shares of the company’s stock, valued at approximately $8,076,100.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Gregory F. Milzcik sold 4,830 shares of the stock in a transaction on Monday, August 1st. The shares were sold at an average price of $90.00, for a total value of $434,700.00. Following the transaction, the director now directly owns 5,375 shares in the company, valued at $483,750. The disclosure for this sale can be found here. 1.00% of the stock is owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the stock. Pacad Investment Ltd. bought a new stake in IDEX Corp. during the second quarter valued at approximately $230,000. Credit Suisse AG raised its stake in IDEX Corp. by 34.6% in the second quarter. Credit Suisse AG now owns 92,829 shares of the company’s stock valued at $7,621,000 after buying an additional 23,842 shares during the period. BlueMountain Capital Management LLC bought a new stake in IDEX Corp. during the second quarter valued at approximately $725,000. Gideon Capital Advisors Inc. raised its stake in IDEX Corp. by 33.4% in the second quarter. Gideon Capital Advisors Inc. now owns 3,499 shares of the company’s stock valued at $287,000 after buying an additional 876 shares during the period. Finally, Sei Investments Co. raised its stake in IDEX Corp. by 9.5% in the second quarter. Sei Investments Co. now owns 127,888 shares of the company’s stock valued at $10,500,000 after buying an additional 11,044 shares during the period. 97.53% of the stock is currently owned by hedge funds and other institutional investors.
About IDEX Corp.
IDEX Corporation (IDEX) operates an applied solutions business that sells pumps, flow meters and other fluidics systems, and components and engineered products. The Company operates through three segments: Fluid & Metering Technologies (FMT), Health & Science Technologies (HST), and Fire & Safety/Diversified Products (FSDP).
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