IDEX Corporation (NYSE:IEX) issued its earnings results on Tuesday. The industrial products company reported $1.08 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.06 by $0.02, Bloomberg Earnings reports. IDEX Corporation had a return on equity of 19.19% and a net margin of 12.89%. The firm had revenue of $573.40 million for the quarter, compared to analysts’ expectations of $568.43 million. During the same quarter last year, the business earned $0.99 earnings per share. The company’s revenue was up 4.3% compared to the same quarter last year. IDEX Corporation updated its Q3 guidance to $1.04-1.06 EPS and its FY17 guidance to $4.18-4.23 EPS.
IDEX Corporation (NYSE IEX) traded down 0.65% on Tuesday, hitting $113.14. The company’s stock had a trading volume of 523,359 shares. The firm has a 50 day moving average of $112.38 and a 200-day moving average of $99.97. The stock has a market cap of $8.63 billion, a PE ratio of 31.17 and a beta of 1.19. IDEX Corporation has a 12 month low of $82.05 and a 12 month high of $115.18.
The business also recently declared a quarterly dividend, which will be paid on Monday, July 31st. Shareholders of record on Friday, July 14th will be given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 1.31%. The ex-dividend date of this dividend is Wednesday, July 12th. IDEX Corporation’s dividend payout ratio (DPR) is 40.66%.
IEX has been the topic of several recent analyst reports. Zacks Investment Research upgraded IDEX Corporation from a “hold” rating to a “buy” rating and set a $117.00 price objective on the stock in a report on Wednesday, May 10th. Robert W. Baird reiterated a “buy” rating and set a $104.00 price objective on shares of IDEX Corporation in a report on Friday, April 21st. BMO Capital Markets reiterated a “hold” rating and set a $101.00 price objective on shares of IDEX Corporation in a report on Monday, March 27th. BidaskClub upgraded IDEX Corporation from a “buy” rating to a “strong-buy” rating in a report on Tuesday, June 20th. Finally, Jefferies Group LLC reiterated a “hold” rating and set a $79.00 price objective on shares of IDEX Corporation in a report on Wednesday, April 12th. Nine equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $101.00.
In other IDEX Corporation news, VP Michael J. Yates sold 10,533 shares of the stock in a transaction that occurred on Wednesday, April 26th. The stock was sold at an average price of $104.30, for a total value of $1,098,591.90. Following the transaction, the vice president now owns 34,418 shares in the company, valued at $3,589,797.40. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.00% of the stock is currently owned by corporate insiders.
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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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