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Oppenheimer Brokers Reduce Earnings Estimates for IDEX Co. (NYSE:IEX)


IDEX Co. (NYSE:IEXGet 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:IEXGet 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

(Get Rating)

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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Earnings History and Estimates for IDEX (NYSE:IEX)



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