IDEX Co. (IEX) Expected to Post Earnings of $1.27 Per Share

Brokerages expect IDEX Co. (NYSE:IEX) to post $1.27 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Eight analysts have provided estimates for IDEX’s earnings. The lowest EPS estimate is $1.26 and the highest is $1.27. IDEX reported earnings of $1.12 per share in the same quarter last year, which would suggest a positive year over year growth rate of 13.4%. The business is scheduled to announce its next earnings results on Monday, February 4th.

On average, analysts expect that IDEX will report full-year earnings of $5.36 per share for the current fiscal year, with EPS estimates ranging from $5.32 to $5.37. For the next fiscal year, analysts expect that the company will report earnings of $5.77 per share, with EPS estimates ranging from $5.67 to $5.85. Zacks’ earnings per share averages are an average based on a survey of research analysts that that provide coverage for IDEX.

IDEX (NYSE:IEX) last released its quarterly earnings data on Tuesday, October 23rd. The industrial products company reported $1.41 earnings per share for the quarter, topping analysts’ consensus estimates of $1.31 by $0.10. The firm had revenue of $623.00 million during the quarter, compared to analyst estimates of $613.94 million. IDEX had a return on equity of 20.40% and a net margin of 16.54%. The business’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.08 earnings per share.

IEX has been the subject of a number of recent analyst reports. Zacks Investment Research raised IDEX from a “hold” rating to a “buy” rating and set a $170.00 price objective for the company in a research note on Monday, August 20th. Robert W. Baird reaffirmed a “buy” rating and issued a $143.00 price objective on shares of IDEX in a research note on Friday, July 20th. Wells Fargo & Co reaffirmed a “buy” rating and issued a $170.00 price objective (up previously from $165.00) on shares of IDEX in a research note on Wednesday, July 25th. Janney Montgomery Scott raised IDEX from a “neutral” rating to a “buy” rating and set a $149.00 price objective for the company in a research note on Thursday, October 25th. Finally, Stifel Nicolaus upped their price objective on IDEX from $140.00 to $149.00 and gave the stock a “hold” rating in a research note on Thursday, July 26th. Eight equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. IDEX has an average rating of “Hold” and a consensus target price of $145.55.

In related news, CFO William K. Grogan sold 3,406 shares of the stock in a transaction that occurred on Tuesday, August 14th. The stock was sold at an average price of $152.90, for a total transaction of $520,777.40. Following the completion of the transaction, the chief financial officer now directly owns 5,485 shares of the company’s stock, valued at $838,656.50. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Michael J. Yates sold 1,030 shares of the stock in a transaction that occurred on Wednesday, August 29th. The shares were sold at an average price of $155.91, for a total value of $160,587.30. Following the transaction, the vice president now directly owns 27,602 shares of the company’s stock, valued at $4,303,427.82. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,579 shares of company stock valued at $1,162,244. 1.20% of the stock is owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in IEX. SRS Capital Advisors Inc. raised its position in IDEX by 83.0% during the second quarter. SRS Capital Advisors Inc. now owns 745 shares of the industrial products company’s stock valued at $101,000 after purchasing an additional 338 shares during the period. First Hawaiian Bank purchased a new stake in shares of IDEX in the third quarter worth approximately $120,000. Fort L.P. purchased a new stake in shares of IDEX in the second quarter worth approximately $118,000. Sterling Investment Advisors Ltd. purchased a new stake in shares of IDEX in the third quarter worth approximately $151,000. Finally, Point72 Hong Kong Ltd purchased a new stake in shares of IDEX in the second quarter worth approximately $153,000. 94.83% of the stock is owned by institutional investors.

Shares of NYSE IEX traded down $1.00 during mid-day trading on Friday, reaching $135.53. The company’s stock had a trading volume of 284,378 shares, compared to its average volume of 553,421. The firm has a market cap of $10.63 billion, a price-to-earnings ratio of 31.45, a price-to-earnings-growth ratio of 2.52 and a beta of 1.31. The company has a quick ratio of 2.41, a current ratio of 3.21 and a debt-to-equity ratio of 0.41. IDEX has a 52 week low of $123.47 and a 52 week high of $157.84.

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 31st. Investors of record on Tuesday, October 16th were paid a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date was Monday, October 15th. IDEX’s payout ratio is presently 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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