IDEX (NYSE:IEX) Issues Quarterly Earnings Results, Beats Estimates By $0.12 EPS

IDEX (NYSE:IEX) released its earnings results on Tuesday. The industrial products company reported $1.88 EPS for the quarter, beating the consensus estimate of $1.76 by $0.12, Briefing.com reports. The firm had revenue of $801.00 million during the quarter, compared to analyst estimates of $807.52 million. IDEX had a return on equity of 18.56% and a net margin of 18.21%. The business’s quarterly revenue was down 5.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.09 earnings per share.

IDEX Stock Up 1.1 %

NYSE IEX traded up $2.48 on Tuesday, hitting $232.37. 381,823 shares of the stock traded hands, compared to its average volume of 376,136. The stock has a 50-day moving average of $236.47 and a 200 day moving average of $216.31. IDEX has a twelve month low of $183.76 and a twelve month high of $246.36. The company has a market capitalization of $17.59 billion, a P/E ratio of 29.74, a price-to-earnings-growth ratio of 2.27 and a beta of 0.97. The company has a current ratio of 2.89, a quick ratio of 2.05 and a debt-to-equity ratio of 0.37.

Analysts Set New Price Targets

IEX has been the subject of a number of research reports. StockNews.com raised IDEX from a “hold” rating to a “buy” rating in a research report on Tuesday, April 16th. Oppenheimer boosted their price target on IDEX from $245.00 to $252.00 and gave the company an “outperform” rating in a research report on Thursday, April 18th. Citigroup boosted their price target on IDEX from $254.00 to $277.00 and gave the company a “buy” rating in a research report on Monday, April 8th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $255.00 target price on shares of IDEX in a research report on Thursday, March 21st. Finally, Stifel Nicolaus raised IDEX from a “hold” rating to a “buy” rating and upped their target price for the stock from $215.00 to $265.00 in a research report on Thursday, February 8th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $238.78.

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.