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Northbrook, Illinois-based IDEX Corporation (IEX) offers applied solutions globally. Valued at $15.7 billion by market cap, the company has a diverse portfolio of over 50 businesses, offering products like industrial pumps, lubrication systems, banding and clamping devices, and rescue tools. The leading applied solutions provider is expected to announce its fiscal fourth-quarter earnings for 2024 after the market closes on Tuesday, Feb. 4.
Ahead of the event, analysts expect IEX to report a profit of $2.03 per share on a diluted basis, up 10.9% from $1.83 per share in the year-ago quarter. The company has consistently surpassed Wall Street’s EPS estimates in its last four quarterly reports.
For the full year, analysts expect IEX to report EPS of $7.89, down 4% from $8.22 in fiscal 2023. However, its EPS is expected to rise 7.4% year over year to $8.47 in fiscal 2025.
IEX stock has underperformed the S&P 500’s ($SPX) 24.2% gains over the past 52 weeks, with shares down 1% during this period. Similarly, it underperformed the Industrial Select Sector SPDR Fund’s (XLI) 18.4% gains over the same time frame.
IEX’s underperformance can be attributed to stagnant demand in its core business.
On Oct. 29, IEX reported its Q3 results, and its shares closed up more than 7% in the following trading session. Its adjusted EPS of $1.90 surpassed Wall Street expectations of $1.89. The company’s revenue was $798.2 million, beating Wall Street forecasts of $791 million. For Q4, IEX expects adjusted EPS to be between $2.01 and $2.06. IEX expects full-year adjusted EPS to be between $7.85 and $7.90.
Analysts’ consensus opinion on IEX stock is moderately bullish, with a “Moderate Buy” rating overall. Out of 11 analysts covering the stock, six advise a “Strong Buy” rating, one suggests a “Moderate Buy,” and four give a “Hold.” IEX's average analyst price target is $237.20, indicating a potential upside of 13.6% from the current levels.
