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

IDEX (NYSE:IEX) released its earnings results on Wednesday. The industrial products company reported $2.06 earnings per share for the quarter, topping analysts’ consensus estimates of $2.04 by $0.02, Briefing.com reports. IDEX had a net margin of 17.89% and a return on equity of 17.60%. The firm had revenue of $807.20 million for the quarter, compared to analyst estimates of $828.15 million. During the same period in the prior year, the firm earned $2.18 earnings per share. The business’s quarterly revenue was down 4.6% compared to the same quarter last year.

IDEX Stock Performance

IEX stock traded down $12.46 on Thursday, hitting $196.02. The company’s stock had a trading volume of 566,886 shares, compared to its average volume of 427,196. The stock has a market cap of $14.84 billion, a price-to-earnings ratio of 25.71, a price-to-earnings-growth ratio of 2.10 and a beta of 0.95. The firm has a 50 day moving average of $203.69 and a two-hundred day moving average of $219.53. The company has a current ratio of 3.37, a quick ratio of 2.45 and a debt-to-equity ratio of 0.37. IDEX has a 1 year low of $183.76 and a 1 year high of $246.36.

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 dividend of $0.69 per share. The ex-dividend date of this dividend was Friday, July 12th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.41%. IDEX’s dividend payout ratio (DPR) is presently 36.32%.

Analyst Ratings Changes

IEX has been the topic of a number of analyst reports. Citigroup raised their price objective on shares of IDEX from $254.00 to $277.00 and gave the company a “buy” rating in a report on Monday, April 8th. Oppenheimer lifted their price target on IDEX from $245.00 to $252.00 and gave the stock an “outperform” rating in a report on Thursday, April 18th. StockNews.com downgraded IDEX from a “buy” rating to a “hold” rating in a report on Thursday, July 11th. Stifel Nicolaus decreased their target price on IDEX from $265.00 to $236.00 and set a “buy” rating for the company in a research note on Thursday, July 18th. Finally, Robert W. Baird lowered their price target on IDEX from $260.00 to $256.00 and set an “outperform” rating for the company in a report on Thursday, April 25th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, IDEX currently has a consensus rating of “Moderate Buy” and a consensus target price of $246.57.

About IDEX

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.