II-VI Incorporated (IIVI) Expected to Post Quarterly Sales of $276.99 Million
Equities research analysts expect that II-VI Incorporated (NASDAQ:IIVI) will post sales of $276.99 million for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for II-VI’s earnings. The highest sales estimate is $277.00 million and the lowest is $276.98 million. II-VI posted sales of $231.82 million in the same quarter last year, which would indicate a positive year over year growth rate of 19.5%. The firm is scheduled to announce its next earnings report on Tuesday, January 23rd.
According to Zacks, analysts expect that II-VI will report full-year sales of $276.99 million for the current financial year, with estimates ranging from $1.12 billion to $1.15 billion. For the next financial year, analysts forecast that the firm will report sales of $1.29 billion per share, with estimates ranging from $1.28 billion to $1.30 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that cover II-VI.
II-VI (NASDAQ:IIVI) last posted its quarterly earnings data on Tuesday, October 31st. The scientific and technical instruments company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.04). The company had revenue of $261.50 million during the quarter, compared to the consensus estimate of $255.20 million. II-VI had a net margin of 9.89% and a return on equity of 12.25%. II-VI’s revenue for the quarter was up 18.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.35 earnings per share.
Several brokerages have recently weighed in on IIVI. increased their price target on II-VI from $50.00 to $56.00 and gave the stock a “buy” rating in a report on Wednesday, November 15th. Needham & Company LLC increased their price target on II-VI from $50.00 to $56.00 and gave the stock a “buy” rating in a report on Monday, November 13th. Zacks Investment Research downgraded II-VI from a “buy” rating to a “hold” rating in a report on Tuesday, November 7th. Craig Hallum reiterated a “buy” rating and issued a $58.00 price target (up from $50.00) on shares of II-VI in a report on Wednesday, November 1st. Finally, Benchmark Co. reiterated a “buy” rating and issued a $52.00 price target (up from $44.00) 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 assigned a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $50.64.
In other news, Director Francis J. Kramer sold 25,000 shares of the firm’s stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $45.10, for a total value of $1,127,500.00. Following the completion of the sale, the director now owns 286,259 shares of the company’s stock, valued at approximately $12,910,280.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Mary Jane Raymond sold 1,000 shares of the firm’s stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $45.00, for a total value of $45,000.00. Following the completion of the sale, the chief financial officer now directly owns 53,415 shares of the company’s stock, 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 over the last 90 days. 3.80% of the stock is currently owned by company insiders.
Several institutional investors have recently bought and sold shares of IIVI. Pinebridge Investments L.P. boosted its position in shares of II-VI by 1.9% in the 2nd quarter. Pinebridge Investments L.P. now owns 7,237 shares of the scientific and technical instruments company’s stock worth $249,000 after purchasing an additional 137 shares in the last quarter. Piedmont Investment Advisors LLC acquired a new stake in shares of II-VI in the 2nd quarter worth $407,000. SG Americas Securities LLC boosted its position in shares of II-VI by 329.0% in the 2nd quarter. SG Americas Securities LLC now owns 15,112 shares of the scientific and technical instruments company’s stock worth $518,000 after purchasing an additional 11,589 shares in the last quarter. Aperio Group LLC boosted its position in shares of II-VI by 3.6% in the 2nd quarter. Aperio Group LLC now owns 22,586 shares of the scientific and technical instruments company’s stock worth $775,000 after purchasing an additional 784 shares in the last quarter. Finally, Bridge City Capital LLC acquired a new stake in shares of II-VI in the 2nd quarter worth $1,295,000. 79.41% of the stock is owned by hedge funds and other institutional investors.
Shares of II-VI (NASDAQ:IIVI) opened at $49.10 on Tuesday. The company has a quick ratio of 2.63, a current ratio of 3.89 and a debt-to-equity ratio of 0.43. II-VI has a fifty-two week low of $27.25 and a fifty-two week high of $49.35. The firm has a market capitalization of $2,980.00, a P/E ratio of 28.80 and a beta of 0.02.
II-VI Company Profile
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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