Equities analysts expect II-VI Incorporated (NASDAQ:IIVI) to post $300.54 million in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for II-VI’s earnings, with the lowest sales estimate coming in at $300.00 million and the highest estimate coming in at $302.10 million. II-VI reported sales of $273.72 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 9.8%. The business is scheduled to announce its next quarterly earnings report on Monday, August 6th.
On average, analysts expect that II-VI will report full year sales of $1.14 billion for the current financial year. For the next fiscal year, analysts anticipate that the company will report sales of $1.31 billion per share, with estimates ranging from $1.25 billion to $1.34 billion. Zacks’ 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 announced its earnings results on Tuesday, May 1st. The scientific and technical instruments company reported $0.36 EPS for the quarter, hitting the consensus estimate of $0.36. II-VI had a net margin of 8.41% and a return on equity of 10.75%. The company had revenue of $294.70 million during the quarter, compared to analysts’ expectations of $277.74 million. During the same period last year, the company posted $0.35 earnings per share. The business’s revenue for the quarter was up 20.3% on a year-over-year basis.
A number of analysts have recently issued reports on IIVI shares. Craig Hallum reduced their price target on shares of II-VI to $53.00 and set a “buy” rating for the company in a research report on Friday, February 2nd. Northland Securities reissued a “hold” rating and issued a $45.00 price target on shares of II-VI in a research report on Friday, February 2nd. BidaskClub lowered shares of II-VI from a “hold” rating to a “sell” rating in a research report on Saturday, February 10th. Piper Jaffray Companies assumed coverage on shares of II-VI in a research report on Tuesday, February 13th. They set an “overweight” rating and a $50.00 price objective on the stock. Finally, Morgan Stanley assumed coverage on shares of II-VI in a research report on Friday, March 9th. They set an “overweight” rating and a $46.00 price objective on the stock. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and eleven have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $51.75.
Shares of II-VI traded up $1.82, hitting $45.77, during midday trading on Tuesday, according to MarketBeat Ratings. The stock had a trading volume of 19,083 shares, compared to its average volume of 517,150. The company has a debt-to-equity ratio of 0.45, a current ratio of 3.68 and a quick ratio of 2.45. The stock has a market cap of $2.76 billion, a price-to-earnings ratio of 29.70, a PEG ratio of 1.77 and a beta of 0.13. II-VI has a fifty-two week low of $29.90 and a fifty-two week high of $53.08.
In other news, CEO Vincent D. Mattera, Jr. sold 8,000 shares of the firm’s stock in a transaction on Tuesday, March 20th. The shares were sold at an average price of $47.34, for a total value of $378,720.00. Following the sale, the chief executive officer now owns 260,335 shares in the company, valued at $12,324,258.90. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 3.80% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the business. Stone Ridge Asset Management LLC acquired a new stake in II-VI during the fourth quarter worth $210,000. Suntrust Banks Inc. bought a new position in shares of II-VI during the fourth quarter valued at $212,000. US Bancorp DE lifted its holdings in shares of II-VI by 43.3% during the fourth quarter. US Bancorp DE now owns 4,891 shares of the scientific and technical instruments company’s stock valued at $229,000 after acquiring an additional 1,477 shares during the period. Granite Point Capital Management L.P. bought a new position in shares of II-VI during the fourth quarter valued at $282,000. Finally, Affinity Investment Advisors LLC bought a new position in shares of II-VI during the fourth quarter valued at $302,000. Hedge funds and other institutional investors own 94.82% of the company’s stock.
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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