Zacks: Analysts Expect IDEX Co. (NYSE:IEX) to Announce $1.35 EPS

Brokerages predict that IDEX Co. (NYSE:IEX) will announce earnings per share (EPS) of $1.35 for the current fiscal quarter, according to Zacks Investment Research. Five analysts have issued estimates for IDEX’s earnings. The lowest EPS estimate is $1.35 and the highest is $1.36. IDEX posted earnings of $1.31 per share in the same quarter last year, which would indicate a positive year over year growth rate of 3.1%. The business is scheduled to report its next earnings report after the market closes on Wednesday, January 29th.

On average, analysts expect that IDEX will report full-year earnings of $5.82 per share for the current financial year, with EPS estimates ranging from $5.81 to $5.83. For the next year, analysts expect that the firm will report earnings of $6.01 per share, with EPS estimates ranging from $5.86 to $6.17. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research analysts that that provide coverage for IDEX.

IDEX (NYSE:IEX) last released its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $1.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.46 by $0.06. IDEX had a return on equity of 21.28% and a net margin of 17.05%. The company had revenue of $624.20 million for the quarter, compared to analyst estimates of $641.66 million. During the same period in the previous year, the company posted $1.41 EPS. The firm’s revenue for the quarter was up .2% compared to the same quarter last year.

IEX has been the topic of a number of research analyst reports. Citigroup initiated coverage on IDEX in a research note on Monday, September 30th. They issued a “neutral” rating and a $175.00 target price on the stock. Royal Bank of Canada restated a “buy” rating and issued a $180.00 target price on shares of IDEX in a research note on Wednesday, December 18th. Rosenblatt Securities restated a “buy” rating and issued a $185.00 target price on shares of IDEX in a research note on Wednesday, December 4th. Finally, ValuEngine lowered IDEX from a “buy” rating to a “hold” rating in a research note on Tuesday, October 1st. Eight analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $180.43.

In other news, CAO Michael J. Yates sold 14,871 shares of the stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $162.76, for a total transaction of $2,420,403.96. Following the transaction, the chief accounting officer now directly owns 6,197 shares in the company, valued at approximately $1,008,623.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ernest J. Mrozek sold 6,650 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $160.24, for a total value of $1,065,596.00. Following the transaction, the director now owns 16,255 shares in the company, valued at $2,604,701.20. The disclosure for this sale can be found here. Insiders have sold a total of 54,543 shares of company stock worth $8,833,294 over the last quarter. Corporate insiders own 1.20% of the company’s stock.

Hedge funds have recently modified their holdings of the stock. Squar Milner Financial Services LLC boosted its holdings in IDEX by 376.5% during the 3rd quarter. Squar Milner Financial Services LLC now owns 162 shares of the industrial products company’s stock valued at $26,000 after acquiring an additional 128 shares during the period. Allred Capital Management LLC purchased a new stake in IDEX during the 4th quarter valued at about $31,000. Cerebellum GP LLC purchased a new stake in IDEX during the 3rd quarter valued at about $36,000. Global Retirement Partners LLC purchased a new stake in IDEX in the 3rd quarter worth approximately $42,000. Finally, River & Mercantile Asset Management LLP purchased a new stake in IDEX in the 2nd quarter worth approximately $45,000. Institutional investors own 97.39% of the company’s stock.

Shares of NYSE IEX opened at $174.86 on Friday. The firm has a market capitalization of $13.38 billion, a P/E ratio of 31.45, a P/E/G ratio of 2.93 and a beta of 1.22. The company has a quick ratio of 2.39, a current ratio of 3.21 and a debt-to-equity ratio of 0.39. The stock’s 50-day simple moving average is $170.09 and its two-hundred day simple moving average is $164.97. IDEX has a twelve month low of $130.00 and a twelve month high of $176.70.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 30th. Stockholders of record on Wednesday, January 15th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, January 14th. This represents a $2.00 annualized dividend and a dividend yield of 1.14%. IDEX’s dividend payout ratio (DPR) is presently 36.97%.

About IDEX

IDEX Corporation, through its subsidiaries, operates as an applied solutions company 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, flow meters, injectors, and other fluid-handling pump modules and systems, as well as offers flow monitoring and other services for the food, chemical, general industrial, water and wastewater, agricultural, and energy industries.

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