Equities analysts expect II-VI, Inc. (NASDAQ:IIVI) to announce sales of $276.99 million for the current fiscal quarter, according to Zacks. Two analysts have made 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 would indicate a positive year over year growth rate of 19.5%. The company is scheduled to report its next quarterly earnings results after the market closes on Thursday, February 1st.
According to Zacks, analysts expect that II-VI will report full year sales of $276.99 million for the current fiscal year, with estimates ranging from $1.12 billion to $1.15 billion. For the next year, analysts anticipate that the business will report sales of $1.29 billion per share, with estimates ranging from $1.28 billion to $1.30 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for II-VI.
II-VI (NASDAQ:IIVI) last posted its 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 firm 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 firm’s revenue for the quarter was up 18.1% on a year-over-year basis. During the same period last year, the company posted $0.35 EPS.
A number of brokerages have recently commented on IIVI. Needham & Company LLC increased their price target on shares of II-VI from $50.00 to $56.00 and gave the stock a “buy” rating in a report on Monday, November 13th. Northland Securities lowered shares of II-VI from an “outperform” rating to a “market perform” rating in a research note on Monday, January 22nd. BidaskClub raised shares of II-VI from a “sell” rating to a “hold” rating in a research note on Tuesday, December 12th. upped 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 Wednesday, November 15th. Finally, Zacks Investment Research lowered shares of II-VI from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 11th. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $53.06.
In related news, VP David G. Wagner sold 6,577 shares of the stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $47.63, for a total value of $313,262.51. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Howard H. Xia sold 4,135 shares of the stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $51.58, for a total transaction of $213,283.30. The disclosure for this sale can be found here. Company insiders own 3.80% of the company’s stock.
A number of large investors have recently modified their holdings of IIVI. Pinebridge Investments L.P. grew its holdings in II-VI by 1.9% in the second quarter. Pinebridge Investments L.P. now owns 7,237 shares of the scientific and technical instruments company’s stock valued at $249,000 after purchasing an additional 137 shares during the last quarter. Piedmont Investment Advisors LLC purchased a new position in shares of II-VI during the second quarter valued at $407,000. SG Americas Securities LLC boosted its position in II-VI by 73.0% during the fourth quarter. SG Americas Securities LLC now owns 12,642 shares of the scientific and technical instruments company’s stock valued at $594,000 after purchasing an additional 5,333 shares during the last quarter. Louisiana State Employees Retirement System boosted its position in II-VI by 4.4% during the fourth quarter. Louisiana State Employees Retirement System now owns 23,600 shares of the scientific and technical instruments company’s stock valued at $1,108,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Nationwide Fund Advisors boosted its position in II-VI by 0.8% during the second quarter. Nationwide Fund Advisors now owns 41,893 shares of the scientific and technical instruments company’s stock valued at $1,437,000 after purchasing an additional 339 shares during the last quarter. Institutional investors own 80.49% of the company’s stock.
Shares of II-VI (NASDAQ IIVI) traded up $0.22 during mid-day trading on Monday, hitting $42.87. 282,567 shares of the company were exchanged, compared to its average volume of 728,165. II-VI has a 12 month low of $27.25 and a 12 month high of $53.08. The company has a quick ratio of 2.63, a current ratio of 3.89 and a debt-to-equity ratio of 0.43. The stock has a market cap of $2,775.49, a PE ratio of 27.69 and a beta of 0.03.
COPYRIGHT VIOLATION WARNING: “II-VI, Inc. (IIVI) Expected to Post Quarterly Sales of $276.99 Million” was published by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are accessing this news story on another site, it was copied illegally and republished in violation of United States & international copyright law. The original version of this news story can be viewed at https://www.dispatchtribunal.com/2018/02/01/ii-vi-inc-iivi-expected-to-post-quarterly-sales-of-276-99-million.html.
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.
Get a free copy of the Zacks research report on II-VI (IIVI)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for II-VI Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for II-VI and related companies with MarketBeat.com's FREE daily email newsletter.