IDEX Co. (NYSE:IEX – Get Rating) – Equities researchers at Oppenheimer lowered their FY2022 earnings per share (EPS) estimates for shares of IDEX in a research report issued on Thursday, July 14th. Oppenheimer analyst B. Blair now anticipates that the industrial products company will earn $7.62 per share for the year, down from their prior forecast of $7.63. Oppenheimer currently has a “Outperform” rating and a $215.00 price target on the stock. The consensus estimate for IDEX’s current full-year earnings is $7.68 per share. Oppenheimer also issued estimates for IDEX’s Q4 2022 earnings at $1.89 EPS and FY2023 earnings at $8.20 EPS.
A number of other research firms have also recently commented on IEX. StockNews.com cut IDEX from a “buy” rating to a “hold” rating in a research note on Thursday. Loop Capital decreased their price target on IDEX from $225.00 to $210.00 in a research note on Monday, April 4th. Citigroup increased their price target on IDEX from $232.00 to $235.00 in a research note on Thursday, April 28th. Stifel Nicolaus reduced their price objective on IDEX from $244.00 to $231.00 and set a “buy” rating for the company in a research note on Monday, April 18th. Finally, Mizuho reduced their price objective on IDEX from $233.00 to $205.00 in a research note on Thursday, April 28th. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, IDEX presently has a consensus rating of “Moderate Buy” and an average target price of $225.27.
IDEX Trading Up 2.7 %
IDEX stock opened at $186.26 on Monday. The stock has a 50-day moving average of $185.06 and a two-hundred day moving average of $194.99. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.68 and a current ratio of 3.59. IDEX has a one year low of $172.18 and a one year high of $240.33. The stock has a market cap of $14.16 billion, a PE ratio of 29.90, a price-to-earnings-growth ratio of 2.02 and a beta of 1.02.
IDEX (NYSE:IEX – Get Rating) last issued its quarterly earnings data on Tuesday, April 26th. The industrial products company reported $1.96 earnings per share for the quarter, topping analysts’ consensus estimates of $1.74 by $0.22. The firm had revenue of $751.10 million during the quarter, compared to analysts’ expectations of $721.21 million. IDEX had a return on equity of 18.61% and a net margin of 16.65%. During the same period in the prior year, the business posted $1.51 EPS.
IDEX Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, July 29th. Investors of record on Friday, July 15th will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 1.29%. The ex-dividend date of this dividend is Thursday, July 14th. IDEX’s dividend payout ratio (DPR) is 38.52%.
Institutional Trading of IDEX
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Riverview Trust Co acquired a new stake in IDEX during the first quarter worth about $27,000. UMB Bank N A MO grew its holdings in IDEX by 15.3% in the first quarter. UMB Bank N A MO now owns 581 shares of the industrial products company’s stock valued at $111,000 after purchasing an additional 77 shares during the period. Renaissance Technologies LLC grew its holdings in IDEX by 51.0% in the fourth quarter. Renaissance Technologies LLC now owns 144,825 shares of the industrial products company’s stock valued at $34,225,000 after purchasing an additional 48,900 shares during the period. Kentucky Retirement Systems grew its holdings in IDEX by 3.5% in the fourth quarter. Kentucky Retirement Systems now owns 4,565 shares of the industrial products company’s stock valued at $1,079,000 after purchasing an additional 155 shares during the period. Finally, BlackRock Inc. grew its holdings in IDEX by 3.7% in the fourth quarter. BlackRock Inc. now owns 6,060,157 shares of the industrial products company’s stock valued at $1,432,137,000 after purchasing an additional 218,305 shares during the period. 96.95% of the stock is owned by institutional investors and hedge funds.
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, small volume provers, 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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