Zacks: Analysts Anticipate II-VI Incorporated (IIVI) Will Announce Quarterly Sales of $276.99 Million
Analysts expect that II-VI Incorporated (NASDAQ:IIVI) will report sales of $276.99 million for the current fiscal quarter, according to Zacks. 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 during the same quarter last year, which suggests a positive year-over-year growth rate of 19.5%. The business is expected to issue 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 year, with estimates ranging from $1.12 billion to $1.15 billion. For the next financial year, analysts forecast that the company will post sales of $1.29 billion per share, with estimates ranging from $1.28 billion to $1.30 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that cover II-VI.
II-VI (NASDAQ:IIVI) last issued its quarterly earnings results on Tuesday, October 31st. The scientific and technical instruments company reported $0.32 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by ($0.04). The business had revenue of $261.50 million during the quarter, compared to analyst estimates of $255.20 million. II-VI had a net margin of 9.89% and a return on equity of 12.25%. The company’s revenue was up 18.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.35 earnings per share.
A number of research firms have weighed in on IIVI. upped their price objective on shares of II-VI from $50.00 to $56.00 and gave the company a “buy” rating in a research report on Wednesday, November 15th. Needham & Company LLC increased their price objective on shares of II-VI from $50.00 to $56.00 and gave the stock a “buy” rating in a research note on Monday, November 13th. ValuEngine lowered shares of II-VI from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. BidaskClub lowered shares of II-VI from a “buy” rating to a “hold” rating in a research note on Saturday, December 2nd. Finally, Craig Hallum reiterated a “buy” rating and set a $58.00 price objective (up previously from $50.00) on shares of II-VI in a research note on Wednesday, November 1st. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $50.64.
Shares of II-VI (NASDAQ:IIVI) opened at $44.20 on Friday. The company has a market capitalization of $2,719.36, a price-to-earnings ratio of 26.26 and a beta of 0.03. The company has a current ratio of 3.89, a quick ratio of 2.63 and a debt-to-equity ratio of 0.43. II-VI has a twelve month low of $27.25 and a twelve month high of $52.55.
In related news, Director Howard H. Xia sold 4,135 shares of II-VI stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $51.58, for a total value of $213,283.30. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP David G. Wagner sold 6,577 shares of II-VI stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $47.63, for a total transaction of $313,262.51. The disclosure for this sale can be found here. In the last quarter, insiders sold 61,712 shares of company stock valued at $2,749,046. Insiders own 3.80% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Pinebridge Investments L.P. boosted its position 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 acquiring an additional 137 shares in the last quarter. Piedmont Investment Advisors LLC acquired a new stake in shares of II-VI during the 2nd quarter valued at about $407,000. SG Americas Securities LLC boosted its position in shares of II-VI by 329.0% during the 2nd quarter. SG Americas Securities LLC now owns 15,112 shares of the scientific and technical instruments company’s stock valued at $518,000 after acquiring an additional 11,589 shares in the last quarter. Aperio Group LLC boosted its position in shares of 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 in the last quarter. Finally, Bridge City Capital LLC acquired a new position in II-VI in the second quarter valued at about $1,295,000. Institutional investors own 80.54% of the company’s stock.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for II-VI Incorporated Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for II-VI Incorporated and related companies with Analyst Ratings Network's FREE daily email newsletter.