Brokerages expect that IDEX Co. (NYSE:IEX) will report earnings per share (EPS) of $1.31 for the current quarter, according to Zacks Investment Research. Eight analysts have made estimates for IDEX’s earnings, with estimates ranging from $1.30 to $1.32. IDEX posted earnings per share of $1.08 during the same quarter last year, which would indicate a positive year over year growth rate of 21.3%. The company is expected to report its next quarterly earnings results on Tuesday, July 24th.
On average, analysts expect that IDEX will report full year earnings of $5.18 per share for the current fiscal year, with EPS estimates ranging from $5.11 to $5.20. For the next fiscal year, analysts forecast that the firm will report earnings of $5.63 per share, with EPS estimates ranging from $5.41 to $5.74. Zacks’ EPS calculations are a mean average based on a survey of analysts that that provide coverage for IDEX.
IDEX (NYSE:IEX) last posted its quarterly earnings data on Monday, April 30th. The industrial products company reported $1.29 EPS for the quarter, topping the Zacks’ consensus estimate of $1.24 by $0.05. IDEX had a return on equity of 19.07% and a net margin of 15.36%. The firm had revenue of $612.30 million for the quarter, compared to analyst estimates of $601.11 million. During the same quarter last year, the company earned $1.04 EPS. The company’s revenue was up 10.6% on a year-over-year basis.
IEX has been the topic of several recent analyst reports. SunTrust Banks lifted their price target on IDEX to $145.00 in a research note on Thursday, February 1st. They noted that the move was a valuation call. ValuEngine upgraded IDEX from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. Zacks Investment Research upgraded IDEX from a “hold” rating to a “buy” rating and set a $162.00 price target on the stock in a research note on Friday, February 2nd. Cowen reiterated a “hold” rating and issued a $120.00 price target on shares of IDEX in a research note on Sunday, January 28th. Finally, Stifel Nicolaus decreased their price target on IDEX from $145.00 to $140.00 and set a “hold” rating on the stock in a research note on Monday, April 16th. Twelve research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $137.18.
In related news, SVP Jeffrey D. Bucklew sold 3,500 shares of the firm’s stock in a transaction on Thursday, May 17th. The stock was sold at an average price of $138.10, for a total transaction of $483,350.00. Following the sale, the senior vice president now owns 6,360 shares of the company’s stock, valued at approximately $878,316. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Eric D. Ashleman sold 24,495 shares of the firm’s stock in a transaction on Friday, May 11th. The shares were sold at an average price of $138.34, for a total value of $3,388,638.30. Following the sale, the chief operating officer now directly owns 38,589 shares in the company, valued at approximately $5,338,402.26. The disclosure for this sale can be found here. In the last three months, insiders have sold 35,411 shares of company stock worth $4,899,623. 1.20% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Assetmark Inc. acquired a new stake in shares of IDEX during the 4th quarter valued at $118,000. Calton & Associates Inc. acquired a new stake in shares of IDEX during the 4th quarter valued at $160,000. Advisor Group Inc. boosted its holdings in shares of IDEX by 166.3% during the 4th quarter. Advisor Group Inc. now owns 1,374 shares of the industrial products company’s stock valued at $182,000 after acquiring an additional 858 shares in the last quarter. Community Bank N.A. acquired a new stake in shares of IDEX during the 4th quarter valued at $203,000. Finally, HRT Financial LLC acquired a new stake in shares of IDEX during the 1st quarter valued at $215,000. 95.52% of the stock is currently owned by institutional investors.
IDEX stock traded up $2.48 during mid-day trading on Monday, reaching $142.02. 194,800 shares of the company were exchanged, compared to its average volume of 299,305. IDEX has a 12 month low of $106.39 and a 12 month high of $150.72. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.38 and a quick ratio of 2.48. The firm has a market cap of $10.71 billion, a PE ratio of 32.85, a price-to-earnings-growth ratio of 2.45 and a beta of 1.22.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 31st. Investors of record on Tuesday, May 15th will be issued a dividend of $0.43 per share. This is an increase from IDEX’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Monday, May 14th. This represents a $1.72 annualized dividend and a dividend yield of 1.21%. IDEX’s dividend payout ratio (DPR) is 39.91%.
IDEX Company Profile
IDEX Corporation, through its subsidiaries, provides various pumps, valves, flow meters, other fluidics systems and components, and engineered products worldwide. Its Fluid & Metering Technologies segment designs, produces, and distributes positive displacement pumps, flow meters, injectors, other fluid-handling pump modules and systems, and specialty valve products, as well as offers flow monitoring and other services for food, chemical, general industrial, water and wastewater, agricultural, and energy industries.
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