Wall Street analysts forecast that II-VI, Inc. (NASDAQ:IIVI) will post sales of $276.99 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for II-VI’s earnings. The highest sales estimate is $277.00 million and the lowest is $276.98 million. II-VI reported sales of $231.82 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 19.5%. The company is expected to announce its next quarterly earnings results on Tuesday, January 23rd.
On average, 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 fiscal year, analysts anticipate 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 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, October 31st. The scientific and technical instruments company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.04). II-VI had a net margin of 9.89% and a return on equity of 12.25%. The company had revenue of $261.50 million during the quarter, compared to analysts’ expectations of $255.20 million. During the same period last year, the business earned $0.35 earnings per share. The company’s revenue for the quarter was up 18.1% compared to the same quarter last year.
A number of analysts have recently issued reports on the company. BidaskClub raised II-VI from a “hold” rating to a “buy” rating in a research report on Wednesday. Zacks Investment Research raised II-VI from a “hold” rating to a “strong-buy” rating and set a $46.00 target price on the stock in a research report on Wednesday, September 27th. Benchmark reaffirmed a “buy” rating and set a $52.00 target price (up from $44.00) on shares of II-VI in a research report on Wednesday, November 1st. B. Riley lifted their target price on II-VI from $39.50 to $40.50 and gave the stock a “neutral” rating in a research report on Wednesday, November 1st. Finally, ValuEngine lowered II-VI from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $50.64.
Shares of II-VI (IIVI) opened at $50.70 on Friday. II-VI has a 52-week low of $27.25 and a 52-week high of $52.55. The stock has a market capitalization of $3,160.00, a PE ratio of 32.92 and a beta of 0.03. 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 related news, VP David G. Wagner sold 6,577 shares of II-VI stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $47.63, for a total value of $313,262.51. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Howard H. Xia sold 4,135 shares of II-VI stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $51.58, for a total value of $213,283.30. The disclosure for this sale can be found here. Insiders sold 36,712 shares of company stock valued at $1,699,046 over the last quarter. Insiders own 3.80% of the company’s stock.
Large investors have recently bought and sold shares of the stock. Piedmont Investment Advisors LLC acquired a new position in II-VI in the second quarter worth about $407,000. Argent Capital Management LLC acquired a new position in II-VI in the second quarter worth about $1,610,000. Kornitzer Capital Management Inc. KS grew its stake in II-VI by 83.0% in the third quarter. Kornitzer Capital Management Inc. KS now owns 137,480 shares of the scientific and technical instruments company’s stock worth $5,657,000 after purchasing an additional 62,335 shares in the last quarter. Assetmark Inc. grew its stake in II-VI by 157.5% in the third quarter. Assetmark Inc. now owns 137,616 shares of the scientific and technical instruments company’s stock worth $5,663,000 after purchasing an additional 84,176 shares in the last quarter. Finally, EAM Investors LLC acquired a new position in II-VI in the third quarter worth about $2,252,000. Institutional investors and hedge funds own 80.52% of the company’s stock.
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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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