Wall Street brokerages forecast that II-VI, Inc. (NASDAQ:IIVI) will report $0.36 earnings per share (EPS) for the current quarter, according to Zacks. Two analysts have made estimates for II-VI’s earnings. The lowest EPS estimate is $0.35 and the highest is $0.37. II-VI reported earnings of $0.35 per share in the same quarter last year, which indicates a positive year over year growth rate of 2.9%. The firm is expected to report its next earnings results on Tuesday, May 1st.
According to Zacks, analysts expect that II-VI will report full-year earnings of $1.55 per share for the current fiscal year, with EPS estimates ranging from $1.51 to $1.58. For the next financial year, analysts expect that the company will post earnings of $2.15 per share, with EPS estimates ranging from $2.00 to $2.23. Zacks Investment Research’s EPS averages are an average based on a survey of analysts that follow II-VI.
II-VI (NASDAQ:IIVI) last issued its quarterly earnings data on Thursday, February 1st. The scientific and technical instruments company reported $0.39 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.02. The business had revenue of $281.50 million for the quarter, compared to analysts’ expectations of $277.16 million. II-VI had a return on equity of 11.10% and a net margin of 8.08%. The company’s revenue for the quarter was up 21.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.49 EPS.
Several analysts have recently issued reports on IIVI shares. Craig Hallum decreased their price objective on II-VI to $53.00 and set a “buy” rating on the stock in a report on Friday, February 2nd. Loop Capital started coverage on II-VI in a report on Monday, January 29th. They set a “buy” rating and a $70.00 price objective on the stock. BidaskClub raised II-VI from a “hold” rating to a “buy” rating in a report on Wednesday, January 10th. ValuEngine raised II-VI from a “hold” rating to a “buy” rating in a report on Wednesday, March 14th. Finally, DA Davidson started coverage on II-VI in a report on Thursday. They set a “buy” rating and a $55.00 price objective on the stock. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. II-VI currently has an average rating of “Buy” and a consensus target price of $52.21.
A number of large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its holdings in II-VI by 7.5% during the 4th quarter. BlackRock Inc. now owns 7,562,217 shares of the scientific and technical instruments company’s stock valued at $355,046,000 after buying an additional 526,660 shares during the period. Discovery Capital Management LLC CT bought a new position in shares of II-VI during the 4th quarter worth $116,367,000. Bank of New York Mellon Corp grew its position in shares of II-VI by 7.3% during the 4th quarter. Bank of New York Mellon Corp now owns 1,341,583 shares of the scientific and technical instruments company’s stock worth $62,987,000 after buying an additional 91,739 shares in the last quarter. Macquarie Group Ltd. grew its position in shares of II-VI by 10.3% during the 4th quarter. Macquarie Group Ltd. now owns 803,299 shares of the scientific and technical instruments company’s stock worth $37,715,000 after buying an additional 75,052 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in shares of II-VI by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 505,300 shares of the scientific and technical instruments company’s stock worth $23,723,000 after buying an additional 1,463 shares in the last quarter. Institutional investors own 89.06% of the company’s stock.
Shares of II-VI stock traded up $0.90 on Monday, hitting $45.20. The stock had a trading volume of 1,201,116 shares, compared to its average volume of 960,498. The stock has a market cap of $2,768.16, a PE ratio of 34.24, a price-to-earnings-growth ratio of 1.68 and a beta of 0.12. II-VI has a twelve month low of $27.25 and a twelve month high of $53.08. The company has a quick ratio of 2.71, a current ratio of 4.01 and a debt-to-equity ratio of 0.48.
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.
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