IDEX (NYSE:IEX – Get Free Report) announced that its Board of Directors has authorized a share buyback plan on Thursday, September 18th, RTT News reports. The company plans to repurchase $1.00 billion in shares. This repurchase authorization permits the industrial products company to buy up to 8.3% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.
IDEX Trading Up 1.6%
Shares of IDEX stock opened at $162.16 on Friday. The firm has a market cap of $12.21 billion, a price-to-earnings ratio of 26.20, a price-to-earnings-growth ratio of 1.68 and a beta of 1.02. IDEX has a 52-week low of $153.36 and a 52-week high of $238.22. The company’s 50-day simple moving average is $168.25 and its 200-day simple moving average is $175.15. The company has a quick ratio of 2.13, a current ratio of 3.05 and a debt-to-equity ratio of 0.46.
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IDEX (NYSE:IEX – Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The industrial products company reported $2.07 earnings per share for the quarter, beating analysts’ consensus estimates of $2.00 by $0.07. The company had revenue of $865.40 million for the quarter, compared to analyst estimates of $858.59 million. IDEX had a return on equity of 15.16% and a net margin of 14.05%.The firm’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.06 EPS. IDEX has set its Q3 2025 guidance at 1.900-1.950 EPS. FY 2025 guidance at 7.850-7.950 EPS. As a group, equities research analysts anticipate that IDEX will post 8.26 earnings per share for the current year.
IDEX Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 24th. Shareholders of record on Friday, October 10th will be issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 1.8%. IDEX’s dividend payout ratio (DPR) is currently 45.88%.
Analysts Set New Price Targets
A number of equities analysts have recently issued reports on IEX shares. Oppenheimer lowered their target price on shares of IDEX from $224.00 to $212.00 and set an “outperform” rating on the stock in a research report on Thursday, July 31st. DA Davidson set a $180.00 price objective on shares of IDEX and gave the stock a “neutral” rating in a research report on Monday, August 4th. Citigroup lifted their price objective on shares of IDEX from $208.00 to $216.00 and gave the company a “buy” rating in a research note on Monday, July 14th. Royal Bank Of Canada reduced their target price on shares of IDEX from $207.00 to $200.00 and set an “outperform” rating for the company in a report on Thursday, July 31st. Finally, Stifel Nicolaus lowered their price target on IDEX from $238.00 to $204.00 and set a “buy” rating on the stock in a report on Thursday, July 31st. Five equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $201.71.
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IDEX Company Profile
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IDEX Corporation, together with its subsidiaries, provides applied solutions 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, valves, small volume provers, flow meters, injectors, and other fluid-handling pump modules and systems, as well as flow monitoring and other services for the food, chemical, general industrial, water and wastewater, agricultural, and energy industries.
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