$618.15 Million in Sales Expected for IDEX Co. (IEX) This Quarter
Wall Street brokerages forecast that IDEX Co. (NYSE:IEX) will report $618.15 million in sales for the current fiscal quarter, according to Zacks. Eight analysts have made estimates for IDEX’s earnings. The highest sales estimate is $634.00 million and the lowest is $611.70 million. IDEX reported sales of $585.90 million in the same quarter last year, which indicates a positive year over year growth rate of 5.5%. The business is scheduled to report its next quarterly earnings report on Monday, February 4th.
On average, analysts expect that IDEX will report full-year sales of $2.49 billion for the current year, with estimates ranging from $2.48 billion to $2.50 billion. For the next financial year, analysts anticipate that the firm will report sales of $2.59 billion, with estimates ranging from $2.49 billion to $2.64 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover IDEX.
IDEX (NYSE:IEX) last announced its earnings results on Tuesday, October 23rd. The industrial products company reported $1.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.31 by $0.10. The firm had revenue of $623.00 million during the quarter, compared to analysts’ expectations of $613.94 million. IDEX had a return on equity of 20.40% and a net margin of 16.54%. The business’s revenue was up 8.4% on a year-over-year basis. During the same period in the prior year, the firm earned $1.08 EPS.
A number of institutional investors have recently bought and sold shares of the business. Marshall Wace LLP acquired a new stake in IDEX during the 3rd quarter worth approximately $4,239,000. Clearbridge Investments LLC lifted its position in IDEX by 1.4% during the 3rd quarter. Clearbridge Investments LLC now owns 1,290,870 shares of the industrial products company’s stock worth $194,482,000 after acquiring an additional 17,572 shares during the period. Belpointe Asset Management LLC acquired a new stake in IDEX during the 3rd quarter worth approximately $131,000. Vanguard Group Inc. lifted its position in IDEX by 1.4% during the 3rd quarter. Vanguard Group Inc. now owns 6,997,198 shares of the industrial products company’s stock worth $1,054,197,000 after acquiring an additional 95,176 shares during the period. Finally, Morgan Stanley lifted its position in IDEX by 32.8% during the 3rd quarter. Morgan Stanley now owns 326,434 shares of the industrial products company’s stock worth $49,181,000 after acquiring an additional 80,558 shares during the period. 94.72% of the stock is owned by institutional investors.
Shares of NYSE IEX traded down $1.40 during trading hours on Wednesday, reaching $133.64. The stock had a trading volume of 1,166,794 shares, compared to its average volume of 281,496. The stock has a market cap of $10.36 billion, a PE ratio of 31.01, a price-to-earnings-growth ratio of 2.46 and a beta of 1.33. 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 fifty-two week low of $123.47 and a fifty-two week high of $157.84.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 30th. Shareholders of record on Tuesday, January 15th will be given a dividend of $0.43 per share. The ex-dividend date is Monday, January 14th. This represents a $1.72 dividend on an annualized basis and a yield of 1.29%. IDEX’s payout ratio is 39.91%.
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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