Trading Report: The IDEX Corp. (IEX) Issues FY16 Earnings Guidance

The IDEX Corp. (IEX) Issues FY16 Earnings Guidance

IDEX Corp. (NYSE:IEX) issued an update on its FY16 earnings guidance on Monday morning. The company provided EPS guidance of $3.72 to $3.74 for the period, compared to the Thomson Reuters consensus EPS estimate of $3.74. The company issued revenue guidance of +5% (~$2.12 billion), compared to the consensus revenue estimate of $2.14 billion.IDEX Corp. also updated its Q4 guidance to $0.92-0.94 EPS.

IDEX Corp. (NYSE:IEX) traded up 0.66% during mid-day trading on Monday, hitting $86.98. 543,307 shares of the stock traded hands. The firm’s 50-day moving average price is $91.54 and its 200-day moving average price is $86.96. The firm has a market cap of $6.62 billion, a P/E ratio of 23.06 and a beta of 1.16. IDEX Corp. has a 52 week low of $67.20 and a 52 week high of $95.33.

IDEX Corp. (NYSE:IEX) last released its quarterly earnings data on Monday, October 17th. The company reported $0.92 earnings per share for the quarter, hitting the consensus estimate of $0.92. The company had revenue of $530.40 million for the quarter, compared to analyst estimates of $536.29 million. IDEX Corp. had a net margin of 14.16% and a return on equity of 19.49%. IDEX Corp.’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.89 EPS. On average, equities analysts forecast that IDEX Corp. will post $3.74 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 31st. Stockholders of record on Monday, October 17th will be paid a dividend of $0.34 per share. The ex-dividend date of this dividend is Thursday, October 13th. This represents a $1.36 annualized dividend and a dividend yield of 1.56%. IDEX Corp.’s dividend payout ratio is presently 35.98%.

Several research analysts have recently weighed in on the stock. Jefferies Group restated a hold rating on shares of IDEX Corp. in a research note on Tuesday, July 19th. Janney Montgomery Scott raised shares of IDEX Corp. from a neutral rating to a buy rating and lifted their target price for the stock from $87.00 to $96.00 in a report on Tuesday, July 19th. Zacks Investment Research raised shares of IDEX Corp. from a hold rating to a buy rating and set a $95.00 target price for the company in a report on Thursday, July 14th. Sanford C. Bernstein reaffirmed a market perform rating on shares of IDEX Corp. in a report on Monday, June 27th. Finally, Royal Bank Of Canada reaffirmed a buy rating on shares of IDEX Corp. in a report on Tuesday, July 12th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the stock. The company currently has a consensus rating of Hold and an average target price of $85.86.

In other IDEX Corp. news, Chairman Andrew K. Silvernail sold 6,575 shares of the business’s stock in a transaction dated Monday, August 8th. The shares were sold at an average price of $91.34, for a total value of $600,560.50. Following the completion of the sale, the chairman now owns 88,418 shares of the company’s stock, valued at approximately $8,076,100.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gregory F. Milzcik sold 4,830 shares of the business’s stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $90.00, for a total transaction of $434,700.00. Following the completion of the sale, the director now directly owns 5,375 shares of the company’s stock, valued at approximately $483,750. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by company insiders.

A number of hedge funds have recently bought and sold shares of IEX. BlackRock Fund Advisors boosted its position in shares of IDEX Corp. by 4.7% in the second quarter. BlackRock Fund Advisors now owns 2,656,019 shares of the company’s stock valued at $218,059,000 after buying an additional 119,261 shares during the last quarter. FMR LLC boosted its position in shares of IDEX Corp. by 2.1% in the second quarter. FMR LLC now owns 2,469,173 shares of the company’s stock valued at $202,720,000 after buying an additional 50,255 shares during the last quarter. Waddell & Reed Financial Inc. boosted its position in shares of IDEX Corp. by 2.3% in the second quarter. Waddell & Reed Financial Inc. now owns 1,097,655 shares of the company’s stock valued at $90,117,000 after buying an additional 24,196 shares during the last quarter. Bessemer Group Inc. boosted its position in shares of IDEX Corp. by 0.3% in the second quarter. Bessemer Group Inc. now owns 712,960 shares of the company’s stock valued at $58,534,000 after buying an additional 2,264 shares during the last quarter. Finally, Allianz Asset Management AG boosted its position in shares of IDEX Corp. by 10.2% in the second quarter. Allianz Asset Management AG now owns 529,032 shares of the company’s stock valued at $43,433,000 after buying an additional 49,103 shares during the last quarter. 97.49% of the stock is owned by hedge funds and other institutional investors.

IDEX Corp. Company Profile

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