Analysts predict that II-VI Incorporated (NASDAQ:IIVI) will post earnings of $0.37 per share for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for II-VI’s earnings. II-VI posted earnings of $0.49 per share during the same quarter last year, which would suggest a negative year over year growth rate of 24.5%. The firm is expected to report its next quarterly earnings results on Tuesday, January 23rd.
On average, analysts expect that II-VI will report full-year earnings of $1.55 per share for the current financial year. For the next financial year, analysts forecast that the company will report earnings of $2.18 per share. Zacks’ EPS averages are a mean average based on a survey of sell-side research analysts that follow II-VI.
II-VI (NASDAQ:IIVI) last issued its earnings results on Tuesday, October 31st. The scientific and technical instruments company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.04). The business had revenue of $261.50 million during the quarter, compared to analysts’ expectations of $255.20 million. II-VI had a return on equity of 12.25% and a net margin of 9.89%. II-VI’s revenue for the quarter was up 18.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.35 EPS.
A number of brokerages have issued reports on IIVI. raised their price target on shares of II-VI from $50.00 to $56.00 and gave the stock a “buy” rating in a report on Wednesday. Needham & Company LLC raised their price target on shares of II-VI from $50.00 to $56.00 and gave the stock a “buy” rating in a report on Monday, November 13th. B. Riley raised their price target on shares of II-VI from $39.50 to $40.50 and gave the stock a “neutral” rating in a report on Wednesday, November 1st. Benchmark Co. reissued a “buy” rating and issued a $52.00 price target (up previously from $44.00) on shares of II-VI in a report on Wednesday, November 1st. Finally, Craig Hallum reissued a “buy” rating and issued a $58.00 price target (up previously from $50.00) on shares of II-VI in a report on Wednesday, November 1st. One analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $50.64.
Shares of II-VI (NASDAQ IIVI) traded up $0.60 during trading on Friday, reaching $47.80. 720,940 shares of the company’s stock were exchanged, compared to its average volume of 872,477. The company has a market cap of $2,981.31, a price-to-earnings ratio of 28.80 and a beta of 0.02. II-VI has a 1-year low of $27.25 and a 1-year high of $48.60. The company has a debt-to-equity ratio of 0.43, a quick ratio of 2.63 and a current ratio of 3.89.
In other news, Director Francis J. Kramer sold 25,000 shares of II-VI stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $42.00, for a total transaction of $1,050,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Mary Jane Raymond sold 1,000 shares of II-VI stock in a transaction dated Tuesday, October 31st. The shares were sold at an average price of $45.00, for a total transaction of $45,000.00. Following the sale, the chief financial officer now directly owns 53,415 shares in the company, valued at approximately $2,403,675. The disclosure for this sale can be found here. Insiders have sold a total of 51,000 shares of company stock worth $2,222,500 in the last ninety days. Insiders own 3.80% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Pinebridge Investments L.P. boosted its stake in shares of II-VI by 1.9% during the 2nd quarter. Pinebridge Investments L.P. now owns 7,237 shares of the scientific and technical instruments company’s stock valued at $249,000 after purchasing an additional 137 shares in the last quarter. Nationwide Fund Advisors lifted its position in II-VI by 0.8% during the 2nd quarter. Nationwide Fund Advisors now owns 41,893 shares of the scientific and technical instruments company’s stock valued at $1,437,000 after acquiring an additional 339 shares during the period. Aperio Group LLC lifted its position in II-VI by 3.6% during the 2nd quarter. Aperio Group LLC now owns 22,586 shares of the scientific and technical instruments company’s stock valued at $775,000 after acquiring an additional 784 shares during the period. Rhumbline Advisers lifted its position in II-VI by 1.8% during the 2nd quarter. Rhumbline Advisers now owns 131,153 shares of the scientific and technical instruments company’s stock valued at $4,499,000 after acquiring an additional 2,375 shares during the period. Finally, Bridge City Capital LLC lifted its position in II-VI by 8.7% during the 3rd quarter. Bridge City Capital LLC now owns 41,025 shares of the scientific and technical instruments company’s stock valued at $1,688,000 after acquiring an additional 3,280 shares during the period. 79.41% of the stock is currently owned by hedge funds and other institutional investors.
II-VI Incorporated develops and manufactures engineered materials, optoelectronic components and products. The Company has three segments: II-VI Laser Solutions, II-VI Photonics and II-VI Performance Products. The II-VI Laser Solutions segment designs, manufactures and markets optical and electro-optical components and materials sold under the II-VI Infrared brand name and used in carbon dioxide (CO2) lasers, fiber-delivered beam delivery systems and processing tools and direct diode lasers for industrial lasers sold under the II-VI HIGHYAG and II-VI Laser Enterprise brand names.
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