II-VI Incorporated (NASDAQ:IIVI) Expected to Post Earnings of $0.87 Per Share

Wall Street analysts forecast that II-VI Incorporated (NASDAQ:IIVI) will announce earnings of $0.87 per share for the current quarter, according to Zacks. Six analysts have made estimates for II-VI’s earnings, with the highest EPS estimate coming in at $0.90 and the lowest estimate coming in at $0.85. II-VI posted earnings of $1.08 per share during the same quarter last year, which suggests a negative year-over-year growth rate of 19.4%. The firm is expected to announce its next earnings report on Tuesday, February 8th.

On average, analysts expect that II-VI will report full-year earnings of $3.61 per share for the current fiscal year, with EPS estimates ranging from $3.46 to $3.77. For the next financial year, analysts expect that the company will report earnings of $4.45 per share, with EPS estimates ranging from $4.20 to $5.00. Zacks’ EPS calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for II-VI.

II-VI (NASDAQ:IIVI) last released its quarterly earnings data on Tuesday, November 9th. The scientific and technical instruments company reported $0.87 EPS for the quarter, beating the Zacks’ consensus estimate of $0.83 by $0.04. The business had revenue of $795.10 million during the quarter, compared to analysts’ expectations of $809.79 million. II-VI had a net margin of 10.27% and a return on equity of 14.00%. The firm’s quarterly revenue was up 9.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.38 EPS.

A number of equities research analysts have recently issued reports on the stock. Barclays cut shares of II-VI from an “equal weight” rating to an “underweight” rating and dropped their target price for the company from $65.00 to $56.00 in a report on Monday, October 4th. Morgan Stanley upgraded shares of II-VI from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $80.00 to $82.00 in a research report on Wednesday, December 15th. Bank of America increased their price target on shares of II-VI from $71.00 to $80.00 and gave the stock a “neutral” rating in a research report on Monday, January 10th. Zacks Investment Research lowered shares of II-VI from a “hold” rating to a “sell” rating in a research report on Wednesday. Finally, TheStreet upgraded shares of II-VI from a “c+” rating to a “b” rating in a research report on Wednesday, December 1st. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, II-VI presently has a consensus rating of “Buy” and an average price target of $89.75.

II-VI stock opened at $71.05 on Friday. The firm has a 50-day moving average of $66.89 and a 200-day moving average of $64.83. II-VI has a one year low of $54.35 and a one year high of $100.44. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.97 and a quick ratio of 2.24. The company has a market cap of $7.54 billion, a price-to-earnings ratio of 28.65, a P/E/G ratio of 1.61 and a beta of 1.49.

In other news, Director Joseph J. Corasanti sold 8,620 shares of the firm’s stock in a transaction dated Friday, November 12th. The shares were sold at an average price of $64.76, for a total transaction of $558,231.20. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Mary Jane Raymond sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 21st. The stock was sold at an average price of $68.00, for a total transaction of $68,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 19,370 shares of company stock valued at $1,310,096. 2.50% of the stock is owned by company insiders.

Several institutional investors have recently added to or reduced their stakes in the company. United Capital Financial Advisers LLC raised its position in shares of II-VI by 3,861.5% during the third quarter. United Capital Financial Advisers LLC now owns 172,246 shares of the scientific and technical instruments company’s stock valued at $10,225,000 after buying an additional 167,898 shares during the last quarter. Kennedy Capital Management Inc. boosted its stake in II-VI by 107.8% during the second quarter. Kennedy Capital Management Inc. now owns 166,046 shares of the scientific and technical instruments company’s stock worth $12,053,000 after buying an additional 86,136 shares during the period. Thompson Investment Management Inc. boosted its stake in shares of II-VI by 7.4% during the third quarter. Thompson Investment Management Inc. now owns 140,183 shares of the scientific and technical instruments company’s stock valued at $8,321,000 after purchasing an additional 9,668 shares during the period. Amalgamated Bank boosted its stake in shares of II-VI by 454.8% during the second quarter. Amalgamated Bank now owns 81,898 shares of the scientific and technical instruments company’s stock valued at $5,945,000 after purchasing an additional 67,137 shares during the period. Finally, Waters Parkerson & CO. LLC purchased a new stake in shares of II-VI during the third quarter valued at $4,576,000. Hedge funds and other institutional investors own 97.97% of the company’s stock.

About II-VI

II-VI, Inc engages in the development, refinement, manufacturing, and marketing of engineered materials and opto-electronic components and devices for precision in the field of industrial materials processing, optical communications, aerospace and defense, consumer electronics, semiconductor capital equipment, life sciences, and automotive applications and markets.

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