Brokerages forecast that II-VI, Inc. (NASDAQ:IIVI) will announce $0.56 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Five analysts have issued estimates for II-VI’s earnings, with estimates ranging from $0.54 to $0.57. II-VI posted earnings per share of $0.32 in the same quarter last year, which would suggest a positive year over year growth rate of 75%. The company is scheduled to issue its next earnings report on Tuesday, October 30th.
According to Zacks, analysts expect that II-VI will report full year earnings of $2.44 per share for the current financial year, with EPS estimates ranging from $2.31 to $2.50. For the next fiscal year, analysts forecast that the business will post earnings of $2.88 per share, with EPS estimates ranging from $2.43 to $3.07. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research firms that cover II-VI.
II-VI (NASDAQ:IIVI) last issued its quarterly earnings results on Tuesday, August 7th. The scientific and technical instruments company reported $0.52 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.39 by $0.13. The business had revenue of $321.10 million during the quarter, compared to the consensus estimate of $301.45 million. II-VI had a return on equity of 10.09% and a net margin of 7.59%. The business’s quarterly revenue was up 17.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.50 EPS.
A number of research analysts recently commented on IIVI shares. Needham & Company LLC upped their price objective on II-VI from $50.00 to $53.00 and gave the stock a “buy” rating in a research note on Wednesday, August 8th. Cowen restated a “buy” rating and set a $64.00 price objective on shares of II-VI in a research note on Wednesday, August 8th. ValuEngine upgraded II-VI from a “hold” rating to a “buy” rating in a research note on Wednesday, August 8th. B. Riley lowered their price objective on II-VI from $54.00 to $49.00 and set a “buy” rating for the company in a research note on Thursday, August 2nd. Finally, Benchmark upped their price objective on II-VI from $48.00 to $52.00 and gave the stock a “buy” rating in a research note on Wednesday, August 8th. Five equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $53.69.
In other II-VI news, CEO Vincent D. Mattera, Jr. sold 9,450 shares of the business’s stock in a transaction on Wednesday, August 1st. The stock was sold at an average price of $39.79, for a total transaction of $376,015.50. Following the completion of the transaction, the chief executive officer now owns 250,310 shares in the company, valued at approximately $9,959,834.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP David G. Wagner sold 4,833 shares of the business’s stock in a transaction on Tuesday, September 25th. The stock was sold at an average price of $49.00, for a total value of $236,817.00. Following the transaction, the vice president now owns 65,211 shares of the company’s stock, valued at approximately $3,195,339. The disclosure for this sale can be found here. Insiders have sold a total of 97,074 shares of company stock valued at $4,439,836 in the last quarter. 4.00% of the stock is currently owned by insiders.
A number of hedge funds have recently made changes to their positions in IIVI. Tower Research Capital LLC TRC acquired a new position in II-VI during the 2nd quarter worth $128,000. Jaffetilchin Investment Partners LLC acquired a new position in II-VI during the 3rd quarter worth $238,000. Janus Henderson Group PLC acquired a new position in II-VI during the 2nd quarter worth $244,000. Gagnon Securities LLC acquired a new position in II-VI during the 2nd quarter worth $254,000. Finally, Sheets Smith Wealth Management boosted its position in II-VI by 60.6% during the 2nd quarter. Sheets Smith Wealth Management now owns 8,391 shares of the scientific and technical instruments company’s stock worth $365,000 after acquiring an additional 3,166 shares during the period. Institutional investors own 92.73% of the company’s stock.
IIVI traded up $0.43 during trading on Friday, reaching $40.76. 541,300 shares of the company were exchanged, compared to its average volume of 710,455. The company has a market cap of $3.01 billion, a P/E ratio of 23.80, a PEG ratio of 1.43 and a beta of 0.23. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.22 and a quick ratio of 2.17. II-VI has a 52 week low of $36.60 and a 52 week high of $53.08.
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.
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.