IDEX (NYSE:IEX) Announces Earnings Results

IDEX (NYSE:IEX) announced its earnings results on Tuesday. The industrial products company reported $1.88 earnings per share for the quarter, beating analysts’ consensus estimates of $1.76 by $0.12, Briefing.com reports. The company had revenue of $801.00 million during the quarter, compared to analyst estimates of $807.52 million. IDEX had a return on equity of 17.88% and a net margin of 17.89%. The firm’s quarterly revenue was down 5.3% compared to the same quarter last year. During the same period last year, the company posted $2.09 earnings per share.

IDEX Trading Down 3.3 %

NYSE:IEX opened at $224.64 on Thursday. The firm has a market capitalization of $17.00 billion, a price-to-earnings ratio of 29.56, a PEG ratio of 2.32 and a beta of 0.97. IDEX has a 1-year low of $183.76 and a 1-year high of $246.36. The business’s 50-day moving average price is $236.58 and its two-hundred day moving average price is $216.55. The company has a current ratio of 2.89, a quick ratio of 2.05 and a debt-to-equity ratio of 0.37.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on IEX shares. Citigroup raised their price objective on shares of IDEX from $254.00 to $277.00 and gave the company a “buy” rating in a research report on Monday, April 8th. StockNews.com lowered shares of IDEX from a “buy” rating to a “hold” rating in a report on Wednesday. Oppenheimer upped their price objective on IDEX from $245.00 to $252.00 and gave the stock an “outperform” rating in a report on Thursday, April 18th. Royal Bank of Canada reissued an “outperform” rating and issued a $255.00 target price on shares of IDEX in a research note on Thursday, March 21st. Finally, Stifel Nicolaus raised IDEX from a “hold” rating to a “buy” rating and upped their price target for the company from $215.00 to $265.00 in a research note on Thursday, February 8th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $238.78.

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.