Wall Street analysts expect that II-VI, Inc. (NASDAQ:IIVI) will post earnings of $0.47 per share for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for II-VI’s earnings, with estimates ranging from $0.37 to $0.57. II-VI reported earnings per share of $0.32 during the same quarter last year, which suggests a positive year over year growth rate of 46.9%. The firm is expected to report its next quarterly earnings results on Tuesday, October 30th.
According to Zacks, analysts expect that II-VI will report full-year earnings of $2.21 per share for the current year, with EPS estimates ranging from $1.75 to $2.80. For the next financial year, analysts forecast that the firm will post earnings of $2.58 per share, with EPS estimates ranging from $2.35 to $2.97. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that follow II-VI.
II-VI (NASDAQ:IIVI) last posted its quarterly earnings data on Tuesday, August 7th. The scientific and technical instruments company reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.13. The firm had revenue of $321.10 million for the quarter, compared to analysts’ expectations of $301.45 million. II-VI had a return on equity of 10.09% and a net margin of 7.59%. The company’s quarterly revenue was up 17.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.50 EPS.
Several research analysts have weighed in on IIVI shares. ValuEngine cut II-VI from a “buy” rating to a “hold” rating in a research report on Thursday, April 26th. BidaskClub cut II-VI from a “hold” rating to a “sell” rating in a research report on Saturday, April 28th. Loop Capital restated a “buy” rating and issued a $56.00 price target on shares of II-VI in a research report on Tuesday, May 1st. Needham & Company LLC decreased their price target on II-VI from $56.00 to $50.00 and set a “buy” rating on the stock in a research report on Wednesday, May 2nd. Finally, B. Riley decreased their price target on II-VI from $55.00 to $54.00 and set a “buy” rating on the stock in a research report on Wednesday, May 2nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eleven have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $53.54.
II-VI traded up $0.45, hitting $45.25, during trading hours on Friday, MarketBeat.com reports. 533,840 shares of the stock were exchanged, compared to its average volume of 647,015. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.22 and a quick ratio of 2.45. The stock has a market capitalization of $2.80 billion, a price-to-earnings ratio of 26.31, a PEG ratio of 1.29 and a beta of 0.02. II-VI has a 12 month low of $34.05 and a 12 month high of $53.08.
In related news, VP David G. Wagner sold 6,579 shares of the firm’s stock in a transaction dated Thursday, May 31st. The stock was sold at an average price of $44.09, for a total value of $290,068.11. Following the sale, the vice president now directly owns 53,248 shares of the company’s stock, valued at $2,347,704.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Mary Jane Raymond sold 4,000 shares of the firm’s stock in a transaction dated Friday, August 10th. The shares were sold at an average price of $44.88, for a total value of $179,520.00. Following the completion of the sale, the chief financial officer now directly owns 47,368 shares in the company, valued at $2,125,875.84. The disclosure for this sale can be found here. Insiders sold 20,029 shares of company stock worth $845,604 in the last 90 days. 3.80% of the stock is owned by company insiders.
A number of large investors have recently added to or reduced their stakes in IIVI. Stone Ridge Asset Management LLC acquired a new stake in II-VI in the fourth quarter valued at about $210,000. Janus Henderson Group PLC acquired a new stake in II-VI in the second quarter valued at about $244,000. Gagnon Securities LLC acquired a new stake in II-VI in the second quarter valued at about $254,000. Affinity Investment Advisors LLC boosted its stake in II-VI by 23.4% in the first quarter. Affinity Investment Advisors LLC now owns 7,926 shares of the scientific and technical instruments company’s stock valued at $324,000 after buying an additional 1,504 shares in the last quarter. Finally, Sheets Smith Wealth Management boosted its stake in II-VI by 60.6% in the second quarter. Sheets Smith Wealth Management now owns 8,391 shares of the scientific and technical instruments company’s stock valued at $365,000 after buying an additional 3,166 shares in the last quarter. 95.72% of the stock is currently owned by institutional investors and hedge funds.
II-VI Incorporated provides engineered materials and optoelectronic components worldwide. The company is a vertically integrated manufacturing company that develops innovative products for various applications in the industrial, optical communications, military, life sciences, semiconductor equipment, and consumer markets.
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