IDEX (NYSE:IEX) Posts Earnings Results, Beats Estimates By $0.01 EPS

IDEX (NYSE:IEX) issued its quarterly earnings data on Tuesday. The industrial products company reported $1.90 EPS for the quarter, topping analysts’ consensus estimates of $1.89 by $0.01, Briefing.com reports. IDEX had a net margin of 18.19% and a return on equity of 16.87%. The business had revenue of $798.20 million for the quarter, compared to analyst estimates of $793.05 million. During the same period last year, the business posted $2.12 earnings per share. The firm’s quarterly revenue was up .6% on a year-over-year basis.

IDEX Stock Performance

Shares of IEX opened at $205.45 on Wednesday. The firm has a 50-day moving average of $206.17 and a 200-day moving average of $207.62. IDEX has a one year low of $183.76 and a one year high of $246.36. The company has a market cap of $15.55 billion, a PE ratio of 26.69, a price-to-earnings-growth ratio of 2.20 and a beta of 0.95. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.41 and a quick ratio of 2.52.

IDEX Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Friday, October 11th were given a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.34%. The ex-dividend date of this dividend was Friday, October 11th. IDEX’s dividend payout ratio (DPR) is presently 36.13%.

Wall Street Analyst Weigh In

IEX has been the topic of a number of research analyst reports. StockNews.com lowered shares of IDEX from a “buy” rating to a “hold” rating in a report on Thursday, July 11th. TD Cowen dropped their price objective on shares of IDEX from $240.00 to $230.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Argus lowered shares of IDEX from a “buy” rating to a “hold” rating in a research note on Wednesday, August 14th. Robert W. Baird lowered their price target on shares of IDEX from $256.00 to $241.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. Finally, Oppenheimer lowered their price target on shares of IDEX from $245.00 to $238.00 and set an “outperform” rating on the stock in a research note on Monday, August 5th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $239.43.

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.