IDEX (NYSE:IEX) Issues Earnings Results, Beats Estimates By $0.02 EPS

IDEX (NYSE:IEX) posted its quarterly earnings data on Wednesday. The industrial products company reported $2.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.04 by $0.02, Briefing.com reports. The firm had revenue of $807.20 million during the quarter, compared to analysts’ expectations of $828.15 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 down 4.6% compared to the same quarter last year. During the same period in the prior year, the business earned $2.18 EPS.

IDEX Stock Down 1.1 %

NYSE IEX traded down $2.17 during trading hours on Friday, reaching $194.12. 786,349 shares of the company’s stock traded hands, compared to its average volume of 494,097. IDEX has a 52-week low of $183.76 and a 52-week high of $246.36. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.41 and a quick ratio of 2.45. The firm has a 50-day simple moving average of $202.88 and a 200 day simple moving average of $219.28. The firm has a market cap of $14.69 billion, a PE ratio of 25.54, a PEG ratio of 2.08 and a beta of 0.95.

IDEX Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, July 26th. Stockholders of record on Friday, July 12th were given a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date was Friday, July 12th. IDEX’s dividend payout ratio is presently 36.32%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on IEX shares. Citigroup boosted their price objective on shares of IDEX from $254.00 to $277.00 and gave the stock a “buy” rating in a report on Monday, April 8th. Oppenheimer upped their price target on shares of IDEX from $245.00 to $252.00 and gave the company an “outperform” rating in a report on Thursday, April 18th. Stifel Nicolaus dropped their target price on shares of IDEX from $265.00 to $236.00 and set a “buy” rating for the company in a report on Thursday, July 18th. StockNews.com downgraded IDEX from a “buy” rating to a “hold” rating in a report on Thursday, July 11th. Finally, Robert W. Baird dropped their price objective on IDEX from $256.00 to $241.00 and set an “outperform” rating for the company in a report on Friday. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $241.71.

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.