IDEX (NYSE:IEX) Issues FY 2024 Earnings Guidance

IDEX (NYSE:IEX) updated its FY 2024 earnings guidance on Wednesday. The company provided EPS guidance of 7.800-7.900 for the period, compared to the consensus EPS estimate of 8.290. The company issued revenue guidance of -. IDEX also updated its FY24 guidance to $7.80-7.90 EPS.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on IEX. Robert W. Baird cut their target price on IDEX from $260.00 to $256.00 and set an outperform rating on the stock in a research report on Thursday, April 25th. StockNews.com lowered IDEX from a buy rating to a hold rating in a research report on Thursday, July 11th. Stifel Nicolaus cut their target price on IDEX from $265.00 to $236.00 and set a buy rating on the stock in a research report on Thursday, July 18th. Oppenheimer lifted their price target on IDEX from $245.00 to $252.00 and gave the stock an outperform rating in a research report on Thursday, April 18th. Finally, Citigroup lifted their price target on IDEX from $254.00 to $277.00 and gave the stock a buy rating in a research report on Monday, April 8th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average target price of $246.57.

IDEX Stock Performance

Shares of NYSE:IEX traded up $0.41 during trading on Wednesday, reaching $208.48. The company had a trading volume of 464,885 shares, compared to its average volume of 426,239. The firm has a market capitalization of $15.78 billion, a price-to-earnings ratio of 27.43, a price-to-earnings-growth ratio of 2.08 and a beta of 0.95. The company has a debt-to-equity ratio of 0.37, a current ratio of 3.37 and a quick ratio of 2.45. The stock’s fifty day moving average price is $203.69 and its 200 day moving average price is $219.53. IDEX has a fifty-two week low of $183.76 and a fifty-two week high of $246.36.

IDEX Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 26th. Stockholders of record on Friday, July 12th were issued a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date of this dividend was Friday, July 12th. IDEX’s payout ratio is currently 36.32%.

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.