Equities analysts forecast that II-VI, Inc. (NASDAQ:IIVI) will post sales of $276.36 million for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for II-VI’s earnings. The lowest sales estimate is $275.00 million and the highest is $278.00 million. II-VI posted sales of $244.99 million during the same quarter last year, which suggests a positive year-over-year growth rate of 12.8%. The company is expected to announce its next quarterly earnings report on Tuesday, May 1st.
According to Zacks, analysts expect that II-VI will report full year sales of $1.12 billion for the current fiscal year, with estimates ranging from $1.11 billion to $1.13 billion. For the next fiscal year, analysts expect that the firm will post sales of $1.27 billion per share, with estimates ranging from $1.25 billion to $1.30 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for II-VI.
II-VI (NASDAQ:IIVI) last posted its quarterly earnings data on Thursday, February 1st. The scientific and technical instruments company reported $0.39 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.02. The firm had revenue of $281.50 million during the quarter, compared to analysts’ expectations of $277.16 million. II-VI had a return on equity of 11.10% and a net margin of 8.08%. The business’s quarterly revenue was up 21.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.49 EPS.
A number of analysts have recently weighed in on IIVI shares. BidaskClub raised II-VI from a “hold” rating to a “buy” rating in a research report on Wednesday, January 10th. Northland Securities cut II-VI from an “outperform” rating to a “market perform” rating in a research report on Monday, January 22nd. Loop Capital started coverage on II-VI in a research report on Monday, January 29th. They issued a “buy” rating and a $70.00 price objective for the company. Craig Hallum lowered their price objective on II-VI to $53.00 and set a “buy” rating for the company in a research report on Friday, February 2nd. Finally, Piper Jaffray started coverage on II-VI in a research report on Tuesday, February 13th. They issued an “overweight” rating and a $50.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $53.50.
Shares of II-VI stock traded down $0.05 during trading on Friday, reaching $43.70. The company’s stock had a trading volume of 429,457 shares, compared to its average volume of 870,352. The company has a debt-to-equity ratio of 0.48, a current ratio of 4.01 and a quick ratio of 2.71. The stock has a market capitalization of $2,733.79, a price-to-earnings ratio of 29.53, a PEG ratio of 1.66 and a beta of 0.10. II-VI has a 1-year low of $27.25 and a 1-year high of $53.08.
In other II-VI news, CEO Vincent D. Mattera, Jr. sold 8,000 shares of II-VI stock in a transaction dated Tuesday, March 20th. The stock was sold at an average price of $47.34, for a total transaction of $378,720.00. Following the completion of the sale, the chief executive officer now owns 260,335 shares of the company’s stock, valued at approximately $12,324,258.90. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 3.80% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of IIVI. Stone Ridge Asset Management LLC acquired a new stake in II-VI during the 4th quarter worth about $210,000. Suntrust Banks Inc. acquired a new stake in II-VI during the 4th quarter worth about $212,000. US Bancorp DE lifted its position in II-VI by 43.3% during the 4th quarter. US Bancorp DE now owns 4,891 shares of the scientific and technical instruments company’s stock worth $229,000 after acquiring an additional 1,477 shares during the period. Granite Point Capital Management L.P. purchased a new position in shares of II-VI during the 4th quarter valued at about $282,000. Finally, Affinity Investment Advisors LLC purchased a new position in shares of II-VI during the 4th quarter valued at about $302,000. 89.12% of the stock is owned by institutional investors.
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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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