Analysts Anticipate IDEX Co. (IEX) Will Post Quarterly Sales of $634.61 Million

Analysts predict that IDEX Co. (NYSE:IEX) will announce sales of $634.61 million for the current fiscal quarter, according to Zacks. Eight analysts have provided estimates for IDEX’s earnings. The lowest sales estimate is $628.99 million and the highest is $650.00 million. IDEX posted sales of $612.32 million in the same quarter last year, which suggests a positive year over year growth rate of 3.6%. The company is scheduled to report its next earnings report after the market closes on Thursday, April 25th.

On average, analysts expect that IDEX will report full year sales of $2.59 billion for the current financial year, with estimates ranging from $2.57 billion to $2.64 billion. For the next fiscal year, analysts forecast that the business will post sales of $2.70 billion, with estimates ranging from $2.66 billion to $2.80 billion. Zacks Investment Research’s sales calculations 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, January 29th. The industrial products company reported $1.31 EPS for the quarter, beating the consensus estimate of $1.27 by $0.04. The business had revenue of $614.09 million for the quarter, compared to the consensus estimate of $617.72 million. IDEX had a net margin of 16.53% and a return on equity of 20.82%. The business’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.12 EPS.

IEX has been the topic of several recent research reports. Zacks Investment Research downgraded shares of IDEX from a “buy” rating to a “hold” rating in a report on Wednesday, December 12th. Royal Bank of Canada raised shares of IDEX from a “sector perform” rating to an “outperform” rating and upped their price objective for the company from $141.00 to $146.00 in a report on Thursday, January 3rd. Boenning Scattergood reissued a “hold” rating on shares of IDEX in a report on Wednesday, January 30th. Finally, Janney Montgomery Scott downgraded shares of IDEX from a “buy” rating to a “neutral” rating in a report on Friday. Nine research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $145.70.

IEX stock opened at $151.74 on Friday. The firm has a market capitalization of $11.37 billion, a PE ratio of 28.05, a price-to-earnings-growth ratio of 2.55 and a beta of 1.28. The company has a current ratio of 3.00, a quick ratio of 2.23 and a debt-to-equity ratio of 0.43. IDEX has a 12 month low of $117.72 and a 12 month high of $157.84.

In other IDEX news, SVP Jeffrey D. Bucklew sold 2,255 shares of the company’s stock in a transaction on Friday, February 15th. The shares were sold at an average price of $143.02, for a total transaction of $322,510.10. Following the completion of the transaction, the senior vice president now directly owns 2,255 shares in the company, valued at $322,510.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Michael J. Yates sold 11,397 shares of the company’s stock in a transaction on Wednesday, February 27th. The stock was sold at an average price of $144.72, for a total transaction of $1,649,373.84. Following the transaction, the vice president now owns 26,590 shares of the company’s stock, valued at $3,848,104.80. The disclosure for this sale can be found here. Corporate insiders own 1.20% of the company’s stock.

A number of large investors have recently bought and sold shares of the business. JOYN Advisors Inc. raised its position in IDEX by 51.4% during the fourth quarter. JOYN Advisors Inc. now owns 265 shares of the industrial products company’s stock worth $33,000 after acquiring an additional 90 shares during the period. ETF Managers Group LLC raised its position in IDEX by 18.9% during the fourth quarter. ETF Managers Group LLC now owns 930 shares of the industrial products company’s stock worth $117,000 after acquiring an additional 148 shares during the period. Quantamental Technologies LLC acquired a new position in IDEX during the fourth quarter worth $25,000. Lindbrook Capital LLC acquired a new position in IDEX during the fourth quarter worth $32,000. Finally, Essex Investment Management Co. LLC acquired a new position in IDEX during the fourth quarter worth $33,000. Institutional investors own 94.59% of the company’s stock.

About IDEX

IDEX Corporation, through its subsidiaries, operates as an applied solutions company 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, flow meters, injectors, and other fluid-handling pump modules and systems, as well as offers flow monitoring and other services for the food, chemical, general industrial, water and wastewater, agricultural, and energy industries.

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Earnings History and Estimates for IDEX (NYSE:IEX)

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