Seaport Global Securities Weighs in on IDEX Corporation’s FY2017 Earnings (IEX)
IDEX Corporation (NYSE:IEX) – Investment analysts at Seaport Global Securities issued their FY2017 EPS estimates for IDEX Corporation in a research note issued to investors on Wednesday. Seaport Global Securities analyst W. Liptak anticipates that the industrial products company will earn $4.26 per share for the year. Seaport Global Securities currently has a “Neutral” rating on the stock. Seaport Global Securities also issued estimates for IDEX Corporation’s Q4 2017 earnings at $1.07 EPS, Q1 2018 earnings at $1.11 EPS, Q2 2018 earnings at $1.15 EPS, Q3 2018 earnings at $1.18 EPS, Q4 2018 earnings at $1.15 EPS and FY2018 earnings at $4.59 EPS.
IDEX Corporation (NYSE:IEX) last posted its quarterly earnings results on Monday, October 16th. The industrial products company reported $1.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.02. The firm had revenue of $574.50 million for the quarter, compared to analysts’ expectations of $563.23 million. IDEX Corporation had a net margin of 13.48% and a return on equity of 19.07%. The firm’s quarterly revenue was up 8.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.92 earnings per share. TRADEMARK VIOLATION WARNING: This piece was published by Watch List News and is the sole property of of Watch List News. If you are reading this piece on another publication, it was illegally copied and republished in violation of United States and international trademark & copyright laws. The legal version of this piece can be accessed at https://www.watchlistnews.com/seaport-global-securities-weighs-in-on-idex-corporations-fy2017-earnings-iex/1646681.html.
Several other equities research analysts also recently issued reports on IEX. SunTrust Banks, Inc. restated a “hold” rating and issued a $118.00 price objective on shares of IDEX Corporation in a research note on Tuesday, October 17th. They noted that the move was a valuation call. Robert W. Baird restated a “buy” rating on shares of IDEX Corporation in a research note on Friday. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of IDEX Corporation in a research note on Wednesday. Royal Bank Of Canada raised their price objective on shares of IDEX Corporation from $124.00 to $126.00 and gave the stock a “sector perform” rating in a research note on Wednesday. Finally, Jefferies Group LLC restated a “hold” rating and issued a $91.00 price objective on shares of IDEX Corporation in a research note on Friday, August 4th. Eleven equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. IDEX Corporation currently has an average rating of “Hold” and an average price target of $113.78.
Shares of IDEX Corporation (NYSE IEX) opened at 125.77 on Friday. The company has a 50-day moving average of $122.46 and a 200 day moving average of $112.47. The firm has a market capitalization of $9.60 billion, a PE ratio of 32.24 and a beta of 1.19. IDEX Corporation has a 12-month low of $84.62 and a 12-month high of $125.80.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Investors of record on Monday, October 16th will be given a $0.37 dividend. The ex-dividend date of this dividend is Friday, October 13th. This represents a $1.48 annualized dividend and a yield of 1.18%. IDEX Corporation’s dividend payout ratio (DPR) is currently 37.95%.
In related news, SVP Daniel J. Salliotte sold 6,000 shares of the firm’s stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $115.34, for a total value of $692,040.00. Following the completion of the transaction, the senior vice president now directly owns 33,762 shares of the company’s stock, valued at $3,894,109.08. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman Andrew K. Silvernail sold 50,000 shares of the firm’s stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $115.00, for a total value of $5,750,000.00. Following the completion of the transaction, the chairman now directly owns 142,114 shares of the company’s stock, valued at $16,343,110. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 60,000 shares of company stock valued at $6,909,200. 1.00% of the stock is owned by company insiders.
A number of hedge funds have recently modified their holdings of the stock. First Bank & Trust lifted its position in IDEX Corporation by 0.5% in the second quarter. First Bank & Trust now owns 7,326 shares of the industrial products company’s stock worth $828,000 after purchasing an additional 34 shares during the period. Global X Management Co. LLC lifted its position in IDEX Corporation by 1.3% in the first quarter. Global X Management Co. LLC now owns 2,869 shares of the industrial products company’s stock worth $268,000 after purchasing an additional 36 shares during the period. Steinberg Global Asset Management lifted its position in IDEX Corporation by 0.6% in the second quarter. Steinberg Global Asset Management now owns 8,597 shares of the industrial products company’s stock worth $972,000 after purchasing an additional 51 shares during the period. PNC Financial Services Group Inc. lifted its position in IDEX Corporation by 0.9% in the second quarter. PNC Financial Services Group Inc. now owns 13,302 shares of the industrial products company’s stock worth $1,504,000 after purchasing an additional 113 shares during the period. Finally, World Asset Management Inc lifted its position in IDEX Corporation by 2.5% in the second quarter. World Asset Management Inc now owns 5,751 shares of the industrial products company’s stock worth $650,000 after purchasing an additional 140 shares during the period. 98.49% of the stock is owned by hedge funds and other institutional investors.
About IDEX Corporation
IDEX Corporation (IDEX) operates an applied solutions business that sells pumps, flow meters and other fluidics systems, and components and engineered products. The Company operates through three segments: Fluid & Metering Technologies (FMT), Health & Science Technologies (HST) and Fire & Safety/Diversified Products (FSDP).
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