$861.03 Million in Sales Expected for II-VI Incorporated (NASDAQ:IIVI) This Quarter

Equities analysts expect II-VI Incorporated (NASDAQ:IIVI – Get Rating) to report sales of $861.03 million for the current quarter, according to Zacks. Seven analysts have issued estimates for II-VI’s earnings, with the highest sales estimate coming in at $869.01 million and the lowest estimate coming in at $855.66 million. II-VI posted sales of $808.01 million in the same quarter last year, which indicates a positive year over year growth rate of 6.6%. The company is scheduled to announce its next earnings report on Monday, January 1st.

According to Zacks, analysts expect that II-VI will report full-year sales of $3.29 billion for the current fiscal year, with estimates ranging from $3.29 billion to $3.30 billion. For the next fiscal year, analysts anticipate that the firm will report sales of $3.68 billion, with estimates ranging from $3.57 billion to $3.75 billion. Zacks’ sales calculations are an average based on a survey of analysts that that provide coverage for II-VI.

II-VI (NASDAQ:IIVI – Get Rating) last released its quarterly earnings results on Tuesday, May 10th. The scientific and technical instruments company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.11. II-VI had a net margin of 8.44% and a return on equity of 13.85%. The firm had revenue of $827.72 million during the quarter, compared to analyst estimates of $804.79 million. During the same quarter last year, the business earned $0.80 EPS. The company’s revenue was up 5.7% compared to the same quarter last year.

IIVI has been the subject of several research analyst reports. Canaccord Genuity Group lowered 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. Craig Hallum lowered their price objective on shares of II-VI from $100.00 to $85.00 and set a “buy” rating for the company in a research note on Thursday, April 14th. Citigroup lifted their price objective on shares of II-VI from $68.00 to $75.00 and gave the company a “neutral” rating in a research note on Thursday, February 10th. StockNews.com initiated coverage on shares of II-VI in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Finally, Zacks Investment Research lowered shares of II-VI from a “hold” rating to a “sell” rating in a research note on Friday, May 13th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, II-VI has an average rating of “Hold” and an average target price of $81.08.

II-VI stock opened at $58.67 on Friday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.58 and a current ratio of 1.99. II-VI has a 52-week low of $54.35 and a 52-week high of $75.23. The firm has a 50 day moving average price of $65.66 and a two-hundred day moving average price of $66.26. The firm has a market cap of $6.25 billion, a price-to-earnings ratio of 32.41, a PEG ratio of 1.38 and a beta of 1.47.

In related news, CTO Christopher Koeppen sold 500 shares of the business’s stock in a transaction dated Monday, April 18th. The shares were sold at an average price of $61.71, for a total value of $30,855.00. Following the transaction, the chief technology officer now directly owns 29,329 shares of the company’s stock, valued at approximately $1,809,892.59. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Enrico Digirolomo sold 1,279 shares of the business’s stock in a transaction dated Thursday, March 24th. The stock was 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 10,479 shares of company stock worth $757,857 over the last ninety days. Insiders own 2.50% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the stock. Verity Asset Management Inc. grew its holdings in shares of II-VI by 1.8% during the first quarter. Verity Asset Management Inc. now owns 15,801 shares of the scientific and technical instruments company’s stock worth $1,145,000 after purchasing an additional 274 shares in the last quarter. First Horizon Advisors Inc. grew its holdings in shares of II-VI by 276.0% during the fourth quarter. First Horizon Advisors Inc. now owns 485 shares of the scientific and technical instruments company’s stock worth $33,000 after purchasing an additional 356 shares in the last quarter. IFP Advisors Inc grew its holdings in shares of II-VI by 17.4% during the fourth quarter. IFP Advisors Inc now owns 2,934 shares of the scientific and technical instruments company’s stock worth $201,000 after purchasing an additional 434 shares in the last quarter. Amalgamated Bank grew its holdings in shares of II-VI by 1.6% during the fourth quarter. Amalgamated Bank now owns 75,213 shares of the scientific and technical instruments company’s stock worth $5,139,000 after purchasing an additional 1,178 shares in the last quarter. Finally, Lindbrook Capital LLC purchased a new stake in II-VI in the fourth quarter worth approximately $140,000. Institutional investors and hedge funds own 97.88% of the company’s stock.

About II-VI (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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