Seaport Res Ptn Brokers Reduce Earnings Estimates for IDEX Co. (NYSE:IEX)

IDEX Co. (NYSE:IEX) – Seaport Res Ptn reduced their Q2 2024 earnings per share (EPS) estimates for IDEX in a report released on Friday, April 26th. Seaport Res Ptn analyst W. Liptak now anticipates that the industrial products company will post earnings of $2.03 per share for the quarter, down from their previous forecast of $2.15. The consensus estimate for IDEX’s current full-year earnings is $8.33 per share. Seaport Res Ptn also issued estimates for IDEX’s FY2024 earnings at $8.23 EPS, Q1 2025 earnings at $2.04 EPS, Q2 2025 earnings at $2.33 EPS, Q3 2025 earnings at $2.44 EPS, Q4 2025 earnings at $2.42 EPS and FY2025 earnings at $9.24 EPS.

A number of other brokerages also recently commented on IEX. Stifel Nicolaus upgraded shares of IDEX from a “hold” rating to a “buy” rating and boosted their target price for the stock from $215.00 to $265.00 in a report on Thursday, February 8th. Citigroup upped 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. Robert W. Baird cut their price objective on shares of IDEX from $260.00 to $256.00 and set an “outperform” rating on the stock in a report on Thursday, April 25th. Royal Bank of Canada restated an “outperform” rating and set a $255.00 price objective on shares of IDEX in a report on Thursday, March 21st. Finally, StockNews.com downgraded shares of IDEX from a “buy” rating to a “hold” rating in a report on Wednesday, April 24th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $250.71.

IDEX Stock Performance

Shares of IDEX stock opened at $220.46 on Monday. The company has a market capitalization of $16.69 billion, a PE ratio of 29.01, a P/E/G ratio of 2.21 and a beta of 0.97. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.45 and a current ratio of 3.37. The company has a 50-day simple moving average of $236.29 and a two-hundred day simple moving average of $216.93. IDEX has a one year low of $183.76 and a one year high of $246.36.

IDEX (NYSE:IEX) last released its quarterly earnings data on Tuesday, April 23rd. The industrial products company reported $1.88 earnings per share for the quarter, beating the consensus estimate of $1.76 by $0.12. The firm had revenue of $801.00 million during the quarter, compared to the consensus estimate of $807.52 million. IDEX had a return on equity of 17.60% and a net margin of 17.89%. The firm’s quarterly revenue was down 5.3% on a year-over-year basis. During the same period in the previous year, the company posted $2.09 earnings per share.

Institutional Investors Weigh In On IDEX

A number of large investors have recently bought and sold shares of IEX. Nordea Investment Management AB boosted its position in IDEX by 1,196.4% in the 4th quarter. Nordea Investment Management AB now owns 135,825 shares of the industrial products company’s stock worth $29,598,000 after purchasing an additional 125,348 shares in the last quarter. Impax Asset Management Group plc grew its holdings in shares of IDEX by 4.0% during the 4th quarter. Impax Asset Management Group plc now owns 2,190,741 shares of the industrial products company’s stock worth $475,632,000 after purchasing an additional 84,502 shares during the period. Lincoln National Corp grew its holdings in shares of IDEX by 7.1% during the 3rd quarter. Lincoln National Corp now owns 1,564 shares of the industrial products company’s stock worth $325,000 after purchasing an additional 104 shares during the period. Deutsche Bank AG grew its holdings in shares of IDEX by 13.3% during the 3rd quarter. Deutsche Bank AG now owns 244,610 shares of the industrial products company’s stock worth $50,884,000 after purchasing an additional 28,661 shares during the period. Finally, Raymond James & Associates grew its holdings in shares of IDEX by 11.2% during the 4th quarter. Raymond James & Associates now owns 76,465 shares of the industrial products company’s stock worth $16,601,000 after purchasing an additional 7,684 shares during the period. Hedge funds and other institutional investors own 97.96% of the company’s stock.

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.