IDEX Co. (NYSE:IEX) Announces $0.69 Quarterly Dividend

by · The Cerbat Gem

IDEX Co. (NYSE:IEX – Get Free Report) declared a quarterly dividend on Wednesday, September 18th, NASDAQ reports. Stockholders of record on Friday, October 11th will be paid a dividend of 0.69 per share by the industrial products company on Friday, October 25th. This represents a $2.76 annualized dividend and a dividend yield of 1.33%. The ex-dividend date of this dividend is Friday, October 11th.

IDEX has increased its dividend payment by an average of 8.0% annually over the last three years and has raised its dividend every year for the last 15 years. IDEX has a payout ratio of 32.1% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect IDEX to earn $8.58 per share next year, which means the company should continue to be able to cover its $2.76 annual dividend with an expected future payout ratio of 32.2%.

IDEX Price Performance

NYSE:IEX opened at $207.71 on Thursday. The stock has a 50 day moving average price of $202.38 and a 200 day moving average price of $210.97. The stock has a market cap of $15.72 billion, a PE ratio of 27.33, a P/E/G ratio of 2.22 and a beta of 0.95. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.52 and a current ratio of 3.41. IDEX has a one year low of $183.76 and a one year high of $246.36.

IDEX (NYSE:IEX – Get Free Report) last announced its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $2.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.04 by $0.02. IDEX had a net margin of 18.19% and a return on equity of 16.87%. The firm had revenue of $807.20 million during the quarter, compared to analyst estimates of $828.15 million. During the same quarter in the prior year, the firm posted $2.18 earnings per share. IDEX’s quarterly revenue was down 4.6% on a year-over-year basis. Equities research analysts expect that IDEX will post 7.88 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on IEX shares. Stifel Nicolaus reduced their price objective on shares of IDEX from $265.00 to $236.00 and set a “buy” rating on the stock in a report on Thursday, July 18th. Royal Bank of Canada decreased their price target on IDEX from $250.00 to $236.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. Robert W. Baird dropped their price objective on IDEX from $256.00 to $241.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. StockNews.com downgraded IDEX from a “buy” rating to a “hold” rating in a report on Thursday, July 11th. Finally, DA Davidson dropped their target price on IDEX from $220.00 to $210.00 and set a “neutral” rating for the company in a research report on Monday, August 5th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, IDEX has a consensus rating of “Moderate Buy” and an average target price of $238.29.

Check Out Our Latest Report on IEX

IDEX Company Profile

(Get Free Report)

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.

Read More