$657.81 Million in Sales Expected for IDEX Co. (IEX) This Quarter
Equities analysts expect that IDEX Co. (NYSE:IEX) will announce $657.81 million in sales for the current fiscal quarter, according to Zacks. Seven analysts have issued estimates for IDEX’s earnings. The highest sales estimate is $674.00 million and the lowest is $648.70 million. IDEX reported sales of $634.36 million in the same quarter last year, which indicates a positive year-over-year growth rate of 3.7%. The company is expected to announce its next quarterly earnings results on Tuesday, July 23rd.
On average, analysts expect that IDEX will report full-year sales of $2.57 billion for the current financial year, with estimates ranging from $2.56 billion to $2.61 billion. For the next year, analysts anticipate that the business will post sales of $2.69 billion, with estimates ranging from $2.66 billion to $2.77 billion. Zacks’ sales averages are an average based on a survey of analysts that follow IDEX.
IDEX (NYSE:IEX) last released its quarterly earnings data on Thursday, April 25th. The industrial products company reported $1.44 earnings per share for the quarter, beating the consensus estimate of $1.37 by $0.07. IDEX had a return on equity of 21.22% and a net margin of 16.92%. The firm had revenue of $622.20 million during the quarter, compared to the consensus estimate of $634.38 million. During the same period last year, the business posted $1.27 EPS. IDEX’s quarterly revenue was up 1.6% on a year-over-year basis.
In other IDEX news, Chairman Andrew K. Silvernail sold 81,120 shares of the firm’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $155.11, for a total transaction of $12,582,523.20. Following the completion of the transaction, the chairman now owns 173,947 shares of the company’s stock, valued at $26,980,919.17. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Michael J. Yates sold 15,178 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $156.97, for a total value of $2,382,490.66. Following the transaction, the vice president now directly owns 38,590 shares of the company’s stock, valued at approximately $6,057,472.30. The disclosure for this sale can be found here. Insiders have sold 107,695 shares of company stock valued at $16,614,388 in the last three months. 1.20% of the stock is currently owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in the business. Cleararc Capital Inc. acquired a new stake in shares of IDEX during the first quarter worth $295,000. FMR LLC boosted its holdings in shares of IDEX by 5.4% during the first quarter. FMR LLC now owns 1,826,878 shares of the industrial products company’s stock worth $277,210,000 after purchasing an additional 93,320 shares during the last quarter. Jane Street Group LLC acquired a new stake in shares of IDEX during the first quarter worth $446,000. BlueCrest Capital Management Ltd acquired a new stake in shares of IDEX during the first quarter worth $333,000. Finally, HighTower Advisors LLC boosted its holdings in shares of IDEX by 85.1% during the first quarter. HighTower Advisors LLC now owns 6,827 shares of the industrial products company’s stock worth $1,033,000 after purchasing an additional 3,139 shares during the last quarter. 94.64% of the stock is owned by institutional investors.
NYSE IEX traded down $2.85 during mid-day trading on Wednesday, hitting $150.61. The stock had a trading volume of 225,167 shares, compared to its average volume of 325,930. IDEX has a 52-week low of $117.72 and a 52-week high of $159.51. The company has a market capitalization of $11.62 billion, a P/E ratio of 27.84, a PEG ratio of 2.64 and a beta of 1.27. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.33 and a quick ratio of 2.45.
The business also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be given a dividend of $0.50 per share. This is an increase from IDEX’s previous quarterly dividend of $0.43. The ex-dividend date is Thursday, May 16th. This represents a $2.00 annualized dividend and a yield of 1.33%. IDEX’s dividend payout ratio (DPR) is presently 36.97%.
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.
Further Reading: Certificate of Deposit (CD)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for IDEX Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for IDEX and related companies with MarketBeat.com's FREE daily email newsletter.