IDEX Co. (NYSE:IEX) – Equities research analysts at Seaport Global Securities increased their FY2018 earnings per share (EPS) estimates for IDEX in a research note issued on Thursday, according to Zacks Investment Research. Seaport Global Securities analyst W. Liptak now forecasts that the industrial products company will post earnings of $5.09 per share for the year, up from their previous estimate of $4.59. Seaport Global Securities has a “Neutral” rating on the stock.
IDEX (NYSE:IEX) last released its quarterly earnings results on Monday, January 29th. The industrial products company reported $1.12 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.07 by $0.05. IDEX had a net margin of 14.74% and a return on equity of 18.88%. The business had revenue of $585.90 million for the quarter, compared to the consensus estimate of $573.47 million. During the same period last year, the firm earned $0.96 earnings per share. The company’s quarterly revenue was up 10.5% on a year-over-year basis.
A number of other analysts have also recently issued reports on the stock. Zacks Investment Research cut shares of IDEX from a “buy” rating to a “hold” rating in a research note on Monday, December 18th. Wells Fargo & Co set a $155.00 price objective on shares of IDEX and gave the stock a “buy” rating in a research note on Thursday, January 18th. Robert W. Baird restated a “buy” rating and issued a $141.00 target price on shares of IDEX in a report on Friday, December 15th. Stifel Nicolaus restated a “hold” rating and issued a $132.00 target price on shares of IDEX in a report on Thursday, December 14th. Finally, Royal Bank of Canada raised their target price on shares of IDEX from $124.00 to $126.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 18th. Eleven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. IDEX presently has a consensus rating of “Hold” and a consensus target price of $133.40.
Shares of IDEX (NYSE IEX) traded up $0.32 during midday trading on Monday, hitting $133.32. 49,501 shares of the stock were exchanged, compared to its average volume of 300,090. The company has a current ratio of 2.78, a quick ratio of 2.06 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $10,133.18, a PE ratio of 30.50, a PEG ratio of 2.01 and a beta of 1.25. IDEX has a 1 year low of $89.69 and a 1 year high of $148.32.
Institutional investors and hedge funds have recently made changes to their positions in the stock. State Street Corp raised its holdings in shares of IDEX by 20.6% in the 2nd quarter. State Street Corp now owns 2,396,039 shares of the industrial products company’s stock valued at $270,781,000 after purchasing an additional 409,654 shares in the last quarter. BlackRock Inc. grew its position in shares of IDEX by 4.7% in the 4th quarter. BlackRock Inc. now owns 7,338,809 shares of the industrial products company’s stock worth $968,504,000 after buying an additional 331,466 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its position in shares of IDEX by 14,670.2% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 175,174 shares of the industrial products company’s stock worth $23,117,000 after buying an additional 173,988 shares during the last quarter. First Trust Advisors LP grew its position in shares of IDEX by 70.7% in the 3rd quarter. First Trust Advisors LP now owns 293,014 shares of the industrial products company’s stock worth $35,592,000 after buying an additional 121,367 shares during the last quarter. Finally, KBC Group NV grew its position in shares of IDEX by 183.8% in the 3rd quarter. KBC Group NV now owns 156,346 shares of the industrial products company’s stock worth $18,991,000 after buying an additional 101,265 shares during the last quarter. Institutional investors own 96.92% of the company’s stock.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 30th. Investors of record on Monday, January 15th were issued a dividend of $0.37 per share. The ex-dividend date of this dividend was Thursday, January 11th. This represents a $1.48 dividend on an annualized basis and a yield of 1.11%. IDEX’s payout ratio is 33.95%.
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IDEX Corporation (IDEX) operates an applied solutions business that sells pumps, flow meters and other fluidics systems, and components and engineered products. The Company operates through three segments: Fluid & Metering Technologies (FMT), Health & Science Technologies (HST) and Fire & Safety/Diversified Products (FSDP).
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