$0.67 EPS Expected for II-VI, Inc. (IIVI) This Quarter

Analysts forecast that II-VI, Inc. (NASDAQ:IIVI) will announce earnings per share of $0.67 for the current fiscal quarter, according to Zacks. Five analysts have made estimates for II-VI’s earnings, with the highest EPS estimate coming in at $0.68 and the lowest estimate coming in at $0.65. II-VI reported earnings per share of $0.39 during the same quarter last year, which would suggest a positive year over year growth rate of 71.8%. The company is scheduled to issue its next quarterly earnings report before the market opens on Thursday, February 7th.

On average, analysts expect that II-VI will report full year earnings of $2.56 per share for the current year, with EPS estimates ranging from $2.44 to $2.70. For the next financial year, analysts expect that the business will report earnings of $3.01 per share, with EPS estimates ranging from $2.48 to $3.39. Zacks’ EPS calculations are a mean average based on a survey of sell-side research firms that cover II-VI.

II-VI (NASDAQ:IIVI) last released its earnings results on Thursday, November 1st. The scientific and technical instruments company reported $0.56 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.56. II-VI had a return on equity of 10.89% and a net margin of 7.68%. The firm had revenue of $314.40 million for the quarter, compared to the consensus estimate of $310.92 million. During the same period in the prior year, the business posted $0.32 earnings per share. The firm’s revenue for the quarter was up 20.2% compared to the same quarter last year.

IIVI has been the topic of several recent analyst reports. BidaskClub upgraded II-VI from a “sell” rating to a “hold” rating in a research report on Tuesday, October 16th. Zacks Investment Research upgraded II-VI from a “hold” rating to a “buy” rating and set a $38.00 price objective on the stock in a report on Wednesday. ValuEngine upgraded II-VI from a “hold” rating to a “buy” rating in a report on Thursday, November 1st. Loop Capital cut their price objective on II-VI to $43.00 and set a “reduce” rating on the stock in a report on Tuesday, November 13th. Finally, B. Riley downgraded II-VI from a “buy” rating to a “neutral” rating in a report on Friday, November 2nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $49.75.

NASDAQ IIVI traded up $0.91 during trading hours on Monday, hitting $34.37. 772,968 shares of the company’s stock were exchanged, compared to its average volume of 695,870. II-VI has a 12-month low of $29.31 and a 12-month high of $53.08. The company has a market capitalization of $2.13 billion, a PE ratio of 19.98, a price-to-earnings-growth ratio of 1.10 and a beta of 0.81. The company has a current ratio of 3.63, a quick ratio of 2.45 and a debt-to-equity ratio of 0.50.

Several large investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in shares of II-VI by 4.5% during the 3rd quarter. Vanguard Group Inc. now owns 5,867,148 shares of the scientific and technical instruments company’s stock valued at $277,516,000 after buying an additional 253,898 shares during the period. Vanguard Group Inc raised its holdings in shares of II-VI by 4.5% during the 3rd quarter. Vanguard Group Inc now owns 5,867,148 shares of the scientific and technical instruments company’s stock valued at $277,516,000 after buying an additional 253,898 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of II-VI by 5.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,537,620 shares of the scientific and technical instruments company’s stock valued at $72,729,000 after buying an additional 86,227 shares during the period. Macquarie Group Ltd. raised its holdings in shares of II-VI by 24.4% during the 3rd quarter. Macquarie Group Ltd. now owns 1,293,301 shares of the scientific and technical instruments company’s stock valued at $61,173,000 after buying an additional 253,776 shares during the period. Finally, Fort Pitt Capital Group LLC raised its holdings in shares of II-VI by 3.4% during the 3rd quarter. Fort Pitt Capital Group LLC now owns 1,050,235 shares of the scientific and technical instruments company’s stock valued at $49,676,000 after buying an additional 34,245 shares during the period. Institutional investors and hedge funds own 89.60% of the company’s stock.

II-VI Company Profile

II-VI Incorporated develops, manufactures, and markets engineered materials, and optoelectronic components and devices worldwide. The company operates in three segments: II-VI Laser Solutions, II-VI Photonics, and II-VI Performance Products. The II-VI Laser Solutions segment offers optical and electro-optical components and materials primarily used in high-power CO2 lasers; fiber-delivered beam delivery systems, and processing tools and direct diode lasers for industrial lasers; direct diode laser modules, sub-systems, and systems; super-hard materials processing laser systems; and compound semiconductor epitaxial and gallium arsenide wafers.

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