IDEX Corp. (IEX) Releases Q4 Earnings Guidance
IDEX Corp. (NYSE:IEX) issued an update on its fourth quarter earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of $0.92-0.94 for the period, compared to the Thomson Reuters consensus estimate of $0.95. IDEX Corp. also updated its FY16 guidance to $3.72 to $3.74 EPS.
Shares of IDEX Corp. (NYSE:IEX) traded up 0.66% during trading on Monday, reaching $86.98. 543,307 shares of the company’s stock were exchanged. The firm has a market cap of $6.62 billion, a price-to-earnings ratio of 23.06 and a beta of 1.16. The stock has a 50-day moving average price of $91.54 and a 200 day moving average price of $86.96. IDEX Corp. has a 12 month low of $67.20 and a 12 month high of $95.33.
IDEX Corp. (NYSE:IEX) last announced its quarterly earnings results on Monday, October 17th. The company reported $0.92 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.92. The company had revenue of $530.40 million for the quarter, compared to analysts’ expectations of $536.29 million. IDEX Corp. had a net margin of 14.16% and a return on equity of 19.49%. IDEX Corp.’s revenue was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.89 EPS. On average, analysts forecast that IDEX Corp. will post $3.74 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 31st. Investors of record on Monday, October 17th will be paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date of this dividend is Thursday, October 13th. IDEX Corp.’s payout ratio is 35.98%.
A number of brokerages recently issued reports on IEX. Royal Bank Of Canada reiterated a buy rating on shares of IDEX Corp. in a research note on Tuesday, July 12th. Jefferies Group reiterated a hold rating on shares of IDEX Corp. in a research note on Tuesday, July 19th. Zacks Investment Research upgraded shares of IDEX Corp. from a hold rating to a buy rating and set a $95.00 price target on the stock in a research note on Thursday, July 14th. Janney Montgomery Scott began coverage on shares of IDEX Corp. in a research note on Tuesday, June 21st. They issued a neutral rating and a $87.00 price target on the stock. Finally, Sanford C. Bernstein reiterated a market perform rating on shares of IDEX Corp. in a research note on Monday, June 27th. 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 company’s stock. IDEX Corp. currently has an average rating of Hold and a consensus price target of $85.86.
In other news, Chairman Andrew K. Silvernail sold 6,575 shares of the company’s stock in a transaction dated Monday, August 8th. The shares were sold at an average price of $91.34, for a total transaction of $600,560.50. Following the completion of the sale, the chairman now 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 the SEC website. Also, Director Gregory F. Milzcik sold 4,830 shares of the company’s stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $90.00, for a total transaction of $434,700.00. Following the sale, the director now directly owns 5,375 shares of the company’s stock, valued at approximately $483,750. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the stock. Pinkerton Retirement Specialists LLC acquired a new stake in IDEX Corp. during the second quarter valued at approximately $169,000. Cubist Systematic Strategies LLC raised its stake in IDEX Corp. by 935.3% in the second quarter. Cubist Systematic Strategies LLC now owns 33,915 shares of the company’s stock valued at $2,784,000 after buying an additional 30,639 shares during the last quarter. Lombard Odier Asset Management USA Corp acquired a new stake in IDEX Corp. during the second quarter valued at approximately $2,373,000. Paloma Partners Management Co acquired a new stake in IDEX Corp. during the second quarter valued at approximately $1,225,000. Finally, Cantab Capital Partners LLP raised its stake in IDEX Corp. by 81.4% in the second quarter. Cantab Capital Partners LLP now owns 2,756 shares of the company’s stock valued at $226,000 after buying an additional 1,237 shares during the last quarter. 97.49% of the stock is owned by hedge funds and other institutional investors.
IDEX Corp. Company Profile
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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