Analysts Expect II-VI Incorporated (NASDAQ:IIVI) Will Post Quarterly Sales of $805.12 Million

Equities research analysts expect II-VI Incorporated (NASDAQ:IIVI – Get Rating) to announce $805.12 million in sales for the current quarter, Zacks Investment Research reports. Seven analysts have issued estimates for II-VI’s earnings, with the highest sales estimate coming in at $808.50 million and the lowest estimate coming in at $798.91 million. II-VI reported sales of $783.23 million during the same quarter last year, which indicates a positive year-over-year growth rate of 2.8%. The company is scheduled to announce its next earnings results on Monday, January 1st.

According to Zacks, analysts expect that II-VI will report full year sales of $3.25 billion for the current financial year, with estimates ranging from $3.23 billion to $3.27 billion. For the next fiscal year, analysts anticipate that the business will report sales of $3.63 billion, with estimates ranging from $3.57 billion to $3.71 billion. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for II-VI.

II-VI (NASDAQ:IIVI – Get Rating) last posted its earnings results on Wednesday, February 9th. The scientific and technical instruments company reported $0.79 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.74 by $0.05. The company had revenue of $806.82 million during the quarter, compared to analysts’ expectations of $816.20 million. II-VI had a net margin of 9.57% and a return on equity of 13.66%. During the same period last year, the company posted $0.89 earnings per share.

IIVI has been the subject of a number of recent research reports. Citigroup lifted their price objective on shares of II-VI from $68.00 to $75.00 and gave the stock a “neutral” rating in a research note on Thursday, February 10th. Zacks Investment Research cut shares of II-VI from a “hold” rating to a “sell” rating in a research note on Tuesday, April 12th. Canaccord Genuity Group dropped their price objective on shares of II-VI from $104.00 to $88.00 and set a “buy” rating for the company in a research note on Friday, February 11th. Bank of America lifted their price objective on shares of II-VI from $71.00 to $80.00 and gave the stock a “neutral” rating in a research note on Monday, January 10th. Finally, Canaccord Genuity Group dropped their price objective on shares of II-VI from $104.00 to $88.00 and set a “buy” rating for the company in a research note on Friday, February 11th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, II-VI has an average rating of “Hold” and an average target price of $81.57.

In related news, CTO Christopher Koeppen sold 500 shares of II-VI stock in a transaction dated Monday, April 18th. The shares were sold at an average price of $61.71, for a total transaction of $30,855.00. Following the completion of the sale, the chief technology officer now owns 29,329 shares in the company, valued at approximately $1,809,892.59. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Enrico Digirolomo sold 1,279 shares of II-VI stock in a transaction dated Thursday, March 24th. The shares were sold at an average price of $71.36, for a total transaction of $91,269.44. The disclosure for this sale can be found here. Insiders have sold a total of 13,829 shares of company stock valued at $994,357 in the last quarter. 2.50% of the stock is currently owned by company insiders.

Several large investors have recently bought and sold shares of IIVI. Waters Parkerson & CO. LLC bought a new stake in shares of II-VI in the 3rd quarter valued at about $4,576,000. Verity Asset Management Inc. raised its holdings in shares of II-VI by 11.7% in the 3rd quarter. Verity Asset Management Inc. now owns 15,444 shares of the scientific and technical instruments company’s stock valued at $917,000 after purchasing an additional 1,615 shares in the last quarter. United Capital Financial Advisers LLC raised its holdings in shares of II-VI by 3,861.5% in the 3rd quarter. United Capital Financial Advisers LLC now owns 172,246 shares of the scientific and technical instruments company’s stock valued at $10,225,000 after purchasing an additional 167,898 shares in the last quarter. IFP Advisors Inc raised its holdings in shares of II-VI by 17.4% in the 4th quarter. IFP Advisors Inc now owns 2,934 shares of the scientific and technical instruments company’s stock valued at $201,000 after purchasing an additional 434 shares in the last quarter. Finally, Lindbrook Capital LLC bought a new stake in shares of II-VI in the 4th quarter valued at about $140,000. Institutional investors and hedge funds own 99.48% of the company’s stock.

IIVI opened at $62.30 on Friday. The stock has a market capitalization of $6.62 billion, a price-to-earnings ratio of 28.45, a PEG ratio of 1.42 and a beta of 1.45. The company has a fifty day moving average of $67.16 and a 200 day moving average of $65.84. II-VI has a fifty-two week low of $54.35 and a fifty-two week high of $76.14. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.61 and a current ratio of 2.00.

II-VI Company Profile (Get Rating)

II-VI Incorporated develops, manufactures, and markets engineered materials, optoelectronic components, and devices worldwide. It operates through two segments, Compound Semiconductors and Photonic Solutions. The Compound Semiconductors segment provides optical and electro-optical components and materials used in high-power CO2 lasers, fiber-lasers, and direct diode lasers for materials processing applications; infrared optical components and high-precision optical assemblies for aerospace and defense, medical, and commercial laser imaging applications; semiconductor lasers and detectors for optical interconnects and sensing applications; engineered materials for thermoelectric, ceramics, and silicon carbide various applications; and compound semiconductor epitaxial wafers for applications in optical and wireless communication.

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