IDEX (NYSE:IEX) Releases FY 2024 Earnings Guidance

IDEX (NYSE:IEX) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of 8.150-8.450 for the period, compared to the consensus estimate of 8.330. The company issued revenue guidance of -. IDEX also updated its FY24 guidance to $8.15-$8.45 EPS.

IDEX Price Performance

IEX traded up $2.48 during trading on Tuesday, hitting $232.37. The company’s stock had a trading volume of 381,823 shares, compared to its average volume of 376,136. The company has a current ratio of 2.89, a quick ratio of 2.05 and a debt-to-equity ratio of 0.37. IDEX has a twelve month low of $183.76 and a twelve month high of $246.36. The business’s fifty day simple moving average is $236.63 and its 200 day simple moving average is $216.50. The firm has a market capitalization of $17.59 billion, a price-to-earnings ratio of 29.64, a P/E/G ratio of 2.27 and a beta of 0.97.

IDEX (NYSE:IEX) last issued its quarterly earnings data on Tuesday, April 23rd. The industrial products company reported $1.88 EPS for the quarter, beating the consensus estimate of $1.76 by $0.12. The company had revenue of $801.00 million for 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%. IDEX’s quarterly revenue was down 5.3% compared to the same quarter last year. During the same period last year, the company earned $2.09 earnings per share. On average, equities research analysts forecast that IDEX will post 8.34 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently issued reports on IEX shares. Royal Bank of Canada reaffirmed an outperform rating and issued a $255.00 price target on shares of IDEX in a research note on Thursday, March 21st. StockNews.com raised IDEX from a hold rating to a buy rating in a research note on Tuesday, April 16th. Oppenheimer lifted their price target on IDEX from $245.00 to $252.00 and gave the stock an outperform rating in a research note on Thursday, April 18th. Citigroup lifted their price objective on IDEX from $254.00 to $277.00 and gave the stock a buy rating in a research report on Monday, April 8th. Finally, Stifel Nicolaus upgraded IDEX from a hold rating to a buy rating and lifted their price objective 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 given a buy rating to the company. According to data from MarketBeat.com, IDEX has an average rating of Moderate Buy and a consensus target price of $238.78.

About IDEX

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.