IEX - IDEX Corp - topped analysts’ earnings expectations in 12 out of the past 15 quarters

IDEX Corporation (IEX) exceeded analysts’ earnings expectations in 12 out of the past 15 quarters. On Apr 4, the Board of Directors declared a 20% boost in its quarterly cash dividend to 18 cents per share, marking its 50th consecutive quarterly dividend payment. IEX is currently yielding 1.4%. The company’s return on equity betters that of the industry average—14% compared to 9%. Full Analysis IDEX Corporation is an applied solutions company specializing in fluid and metering technologies, health and science technologies, dispensing equipment, and fire, safety and other diversified products built to its customers' exacting specifications. The company’s products are sold in niche markets to a wide range of industries throughout the world. IEX topped analysts’ earnings expectations in 12 out of the past 15 quarters. In the three quarters in which the company failed to beat the Street, it managed to match estimates. Earnings per share grew 25.0% over the past five years. On Jan 30, IEX posted fourth-quarter earnings per share of 67 cents, which exceeded the consensus estimate by three cents. Compared to profits of 54 cents in the prior-year period, the result marked a 24.1% year-over-year improvement. Revenues increased 19.5% to $302.1 million from $252.9 million in the year-ago period. For the entire year, the company reported profits of $146.7 million, or $2.72 per share, compared to $109.8 million, or $2.08 per share, in 2005. Revenues jumped 14% to $1.15 billion. IEX increased revenues for the past nine years and expanded gross margins and grew profits for five years running. The company is scheduled to release its first-quarter 2007 results on Apr 19. On Apr 4, the Board of Directors declared a 20% boost in its quarterly cash dividend to 18 cents per share. The dividend represents IEX's 50th consecutive regular quarterly cash dividend payment and is payable on Apr 30 to shareholders of record as of Apr 16. The company is currently yielding 1.4%. A 3-for-2 stock split was also recently announced. On May 21, shareholders will receive one additional share for every two owned as of May 7. This is the company’s fourth split of its common stock since its initial public offering in 1989. The aforementioned dividend payment will turn out to be 12 cents per post-split share. Earnings per share are projected to grow 15% over the next 3-5 years. The company’s return on equity, a common measure of profitability, betters that of the industry average—14% compared to 9%. IEX is a Zacks #2 Rank (Buy) stock. Zacks #2 Rank stocks have generated an average annual return of 21.6% since 1988. Because the Zacks Rank has a market cap bias, Growth & Income investors may find a greater number of large-cap stocks by considering both Zacks #1 Rank (Strong Buy) and Zacks #2 Rank (Buy) stocks in their selection criteria. Content Courtesy: Zacks Investment Research #1 Ranked Stocks Highlight Archive To truly take advantage of the Zacks Rank, you need to first understand how it works. That is why we created the free special report: Zacks Rank Guide: Harnessing the Power of Earnings Estimate Revisions. | Blog Home| VitalStocks Home