Northbrook, Illinois-based IDEX Company (IEX) is an utilized options firm specializing in a variety of purposes resembling fluid and metering applied sciences, well being and science applied sciences, and fireplace, security, and different merchandise. With a market cap of $12.3 billion, IDEX’s operations span the Americas, Europe, and the Indo-Pacific.
The economic main is gearing as much as launch its Q3 outcomes earlier than the market opens on Wednesday, Oct. 29. Forward of the occasion, analysts count on IDEX to report an adjusted revenue of $1.93 per share, up a modest 1.6% from $1.90 per share reported within the year-ago quarter. On a extra constructive observe, the corporate has constantly surpassed Wall Avenue’s bottom-line projections in every of the previous 4 quarters.
For fiscal 2025, analysts count on IDEX to report an adjusted EPS of $7.89, remaining flat year-over-year. Whereas in fiscal 2026, its earnings are anticipated to develop 8.4% year-over-year to $8.55 per share.
IEX inventory costs have tanked 21.6% over the previous 52 weeks, notably lagging behind the Industrial Choose Sector SPDR Fund’s (XLI) 8.9% positive aspects and the S&P 500 Index’s ($SPX) 13.5% returns throughout the identical timeframe.
Regardless of delivering better-than-expected outcomes, IDEX’s inventory costs dropped 11.3% in a single buying and selling session following the discharge of its Q2 outcomes on Jul. 30. Pushed by a slight uptick in natural revenues and contributions from acquired companies, the corporate achieved file gross sales throughout the quarter. Its internet gross sales got here in at $865.4 million, up 7.2% year-over-year, beating the Avenue’s expectations by virtually 1%. Additional, the corporate delivered an adjusted EPS of $2.07, surpassing the consensus estimates by 3.5%. Nonetheless, the corporate’s full-year steerage didn’t match the Avenue’s expectations, triggering the sell-off.
Analysts stay cautiously optimistic in regards to the inventory’s prospects. IEX maintains a consensus “Reasonable Purchase” ranking total. Of the 13 analysts overlaying the inventory, opinions embrace six “Sturdy Buys,” one “Reasonable Purchase,” and 6 “Holds.” Its imply worth goal of $192.64 suggests a 16.7% upside potential from present worth ranges.
On the date of publication, Aditya Sarawgi didn’t have (both instantly or not directly) positions in any of the securities talked about on this article. All info and knowledge on this article is solely for informational functions. This text was initially printed on Barchart.com
