Analysts expect that II-VI, Inc. (NASDAQ:IIVI) will post $0.39 earnings per share (EPS) for the current quarter, Zacks reports. Four analysts have provided estimates for II-VI’s earnings, with the highest EPS estimate coming in at $0.40 and the lowest estimate coming in at $0.38. II-VI posted earnings of $0.50 per share during the same quarter last year, which suggests a negative year-over-year growth rate of 22%. The business is expected to issue its next quarterly earnings results on Monday, August 6th.
On average, analysts expect that II-VI will report full-year earnings of $1.48 per share for the current fiscal year. For the next fiscal year, analysts forecast that the business will report earnings of $1.85 per share, with EPS estimates ranging from $1.74 to $2.00. Zacks’ earnings per share calculations are a mean average based on a survey of analysts that follow II-VI.
II-VI (NASDAQ:IIVI) last issued its earnings results on Tuesday, May 1st. The scientific and technical instruments company reported $0.36 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.36. The company had revenue of $294.70 million during the quarter, compared to analyst estimates of $277.74 million. II-VI had a return on equity of 10.75% and a net margin of 8.41%. The firm’s quarterly revenue was up 20.3% on a year-over-year basis. During the same quarter last year, the business posted $0.35 EPS.
A number of brokerages recently issued reports on IIVI. B. Riley reduced their target price on II-VI from $55.00 to $54.00 and set a “buy” rating for the company in a research note on Wednesday, May 2nd. BidaskClub upgraded II-VI from a “sell” rating to a “hold” rating in a research note on Friday, June 8th. Morgan Stanley began coverage on II-VI in a research note on Friday, March 9th. They issued an “overweight” rating and a $46.00 target price for the company. ValuEngine upgraded II-VI from a “hold” rating to a “buy” rating in a research note on Wednesday, March 14th. Finally, Deutsche Bank began coverage on II-VI in a research note on Monday, March 19th. They issued a “buy” rating and a $56.00 target price for the company. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have assigned a buy rating to the company’s stock. II-VI presently has a consensus rating of “Buy” and a consensus price target of $51.75.
In other II-VI news, VP David G. Wagner sold 6,579 shares of the stock in a transaction dated Thursday, May 31st. The stock was sold at an average price of $44.09, for a total transaction of $290,068.11. Following the sale, the vice president now directly owns 53,248 shares of the company’s stock, valued at approximately $2,347,704.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 3.80% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Foundry Partners LLC grew its position in II-VI by 2.9% during the 1st quarter. Foundry Partners LLC now owns 54,658 shares of the scientific and technical instruments company’s stock worth $2,236,000 after purchasing an additional 1,524 shares during the period. Carillon Tower Advisers Inc. acquired a new stake in shares of II-VI during the 1st quarter valued at about $7,064,000. Firsthand Capital Management Inc. acquired a new stake in shares of II-VI during the 1st quarter valued at about $2,045,000. Russell Investments Group Ltd. grew its position in shares of II-VI by 6.6% during the 1st quarter. Russell Investments Group Ltd. now owns 19,129 shares of the scientific and technical instruments company’s stock valued at $782,000 after acquiring an additional 1,185 shares during the period. Finally, Scout Investments Inc. grew its position in shares of II-VI by 3.9% during the 1st quarter. Scout Investments Inc. now owns 181,850 shares of the scientific and technical instruments company’s stock valued at $7,438,000 after acquiring an additional 6,875 shares during the period. 95.78% of the stock is currently owned by institutional investors.
II-VI traded up $0.75, reaching $47.35, during midday trading on Wednesday, MarketBeat reports. The stock had a trading volume of 424,700 shares, compared to its average volume of 802,756. The firm has a market capitalization of $2.95 billion, a price-to-earnings ratio of 31.99, a price-to-earnings-growth ratio of 1.87 and a beta of 0.16. The company has a debt-to-equity ratio of 0.45, a current ratio of 3.68 and a quick ratio of 2.45. II-VI has a 52-week low of $33.10 and a 52-week high of $53.08.
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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