Brokerages Expect IDEX Co. (IEX) Will Post Earnings of $1.31 Per Share

Wall Street analysts expect IDEX Co. (NYSE:IEX) to announce $1.31 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Nine analysts have issued estimates for IDEX’s earnings. The lowest EPS estimate is $1.29 and the highest is $1.32. IDEX reported earnings of $1.08 per share in the same quarter last year, which indicates a positive year over year growth rate of 21.3%. The firm is scheduled to report its next quarterly earnings report after the market closes on Tuesday, October 23rd.

On average, analysts expect that IDEX will report full-year earnings of $5.32 per share for the current year, with EPS estimates ranging from $5.29 to $5.35. For the next fiscal year, analysts forecast that the business will post earnings of $5.73 per share, with EPS estimates ranging from $5.46 to $5.83. Zacks’ earnings per share calculations are an average based on a survey of sell-side research firms that that provide coverage for IDEX.

IDEX (NYSE:IEX) last released its quarterly earnings data on Tuesday, July 24th. The industrial products company reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.09. The firm had revenue of $634.40 million for the quarter, compared to analysts’ expectations of $623.10 million. IDEX had a net margin of 15.94% and a return on equity of 19.71%. The company’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.08 earnings per share.

Several research firms have recently issued reports on IEX. Zacks Investment Research cut shares of IDEX from a “buy” rating to a “hold” rating in a research report on Tuesday, July 31st. Stifel Nicolaus lifted their price objective on shares of IDEX from $140.00 to $149.00 and gave the company a “hold” rating in a research report on Thursday, July 26th. Wells Fargo & Co reiterated a “buy” rating and set a $170.00 price objective (up previously from $165.00) on shares of IDEX in a research report on Wednesday, July 25th. BMO Capital Markets reiterated a “hold” rating and set a $150.00 price objective on shares of IDEX in a research report on Thursday, July 26th. Finally, Oppenheimer reiterated a “hold” rating on shares of IDEX in a research report on Wednesday, July 25th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $148.20.

IDEX stock opened at $134.37 on Tuesday. The company has a market cap of $10.53 billion, a PE ratio of 28.09, a P/E/G ratio of 2.35 and a beta of 1.20. The company has a current ratio of 3.21, a quick ratio of 2.39 and a debt-to-equity ratio of 0.43. IDEX has a 1 year low of $123.23 and a 1 year high of $157.84.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 31st. Investors of record on Tuesday, October 16th will be given a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 1.28%. The ex-dividend date is Monday, October 15th. IDEX’s dividend payout ratio is presently 39.91%.

In related news, Chairman Andrew K. Silvernail sold 94,045 shares of the business’s stock in a transaction on Wednesday, July 25th. The shares were sold at an average price of $145.00, for a total value of $13,636,525.00. Following the sale, the chairman now owns 149,451 shares in the company, valued at $21,670,395. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO William K. Grogan sold 3,406 shares of the business’s stock in a transaction on Tuesday, August 14th. The stock was sold at an average price of $152.90, for a total transaction of $520,777.40. Following the completion of the sale, the chief financial officer now owns 5,485 shares in the company, valued at approximately $838,656.50. The disclosure for this sale can be found here. Insiders sold 139,858 shares of company stock worth $20,573,870 in the last 90 days. 1.20% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently made changes to their positions in the stock. SRS Capital Advisors Inc. boosted its stake in IDEX by 83.0% during the second quarter. SRS Capital Advisors Inc. now owns 745 shares of the industrial products company’s stock worth $101,000 after buying an additional 338 shares during the period. Fort L.P. purchased a new position in IDEX during the second quarter worth $118,000. First Hawaiian Bank purchased a new position in IDEX during the third quarter worth $120,000. Point72 Hong Kong Ltd purchased a new position in IDEX during the second quarter worth $153,000. Finally, Qube Research & Technologies Ltd purchased a new position in IDEX during the second quarter worth $155,000. Institutional investors own 95.07% of the company’s stock.

IDEX Company Profile

IDEX Corporation, through its subsidiaries, provides various pumps, valves, flow meters, other fluidics systems and components, and engineered products worldwide. Its Fluid & Metering Technologies segment designs, produces, and distributes positive displacement pumps, flow meters, injectors, other fluid-handling pump modules and systems, and specialty valve products, as well as offers flow monitoring and other services for food, chemical, general industrial, water and wastewater, agricultural, and energy industries.

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Earnings History and Estimates for IDEX (NYSE:IEX)

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