II-VI, Inc. (IIVI) Expected to Announce Quarterly Sales of $277.76 Million

Brokerages expect II-VI, Inc. (NASDAQ:IIVI) to report $277.76 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for II-VI’s earnings. The highest sales estimate is $278.00 million and the lowest is $277.51 million. II-VI reported sales of $244.99 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 13.4%. The company is expected to issue its next earnings results on Tuesday, May 1st.

On average, analysts expect that II-VI will report full year sales of $277.76 million for the current year, with estimates ranging from $1.11 billion to $1.13 billion. For the next fiscal year, analysts expect that the firm will post sales of $1.27 billion per share, with estimates ranging from $1.25 billion to $1.30 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that cover II-VI.

II-VI (NASDAQ:IIVI) last released its earnings results on Thursday, February 1st. The scientific and technical instruments company reported $0.39 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.37 by $0.02. The company had revenue of $281.50 million during 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 business’s revenue was up 21.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.49 EPS.

IIVI has been the subject of several research analyst reports. increased their target price on II-VI from $50.00 to $56.00 and gave the company a “buy” rating in a research note on Wednesday, November 15th. Needham & Company LLC increased their target price on II-VI from $50.00 to $56.00 and gave the company a “buy” rating in a research note on Monday, November 13th. Craig Hallum reiterated a “buy” rating and set a $58.00 target price (up from $50.00) on shares of II-VI in a research note on Wednesday, November 1st. Benchmark reiterated a “buy” rating and set a $52.00 target price (up from $44.00) on shares of II-VI in a research note on Wednesday, November 1st. Finally, Zacks Investment Research upgraded II-VI from a “sell” rating to a “buy” rating and set a $47.00 target price for the company in a research note on Friday, November 3rd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $52.17.

In related news, Director Howard H. Xia sold 4,135 shares of the company’s stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $51.58, for a total transaction of $213,283.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP David G. Wagner sold 6,577 shares of the company’s stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $47.63, for a total value of $313,262.51. The disclosure for this sale can be found here. Corporate insiders own 3.80% of the company’s stock.

Hedge funds have recently bought and sold shares of the stock. Piedmont Investment Advisors LLC acquired a new stake in shares of II-VI during the 2nd quarter valued at approximately $407,000. Kornitzer Capital Management Inc. KS increased its position in II-VI by 83.0% in the third quarter. Kornitzer Capital Management Inc. KS now owns 137,480 shares of the scientific and technical instruments company’s stock worth $5,657,000 after buying an additional 62,335 shares during the period. Argent Capital Management LLC increased its position in II-VI by 23.0% in the third quarter. Argent Capital Management LLC now owns 57,710 shares of the scientific and technical instruments company’s stock worth $2,375,000 after buying an additional 10,785 shares during the period. Assetmark Inc. increased its position in II-VI by 157.5% in the third quarter. Assetmark Inc. now owns 137,616 shares of the scientific and technical instruments company’s stock worth $5,663,000 after buying an additional 84,176 shares during the period. Finally, EAM Investors LLC acquired a new stake in II-VI in the third quarter worth $2,252,000. 81.26% of the stock is currently owned by institutional investors and hedge funds.

II-VI (NASDAQ IIVI) opened at $39.45 on Thursday. The company has a market capitalization of $2,460.00 and a P/E ratio of 29.89. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.71 and a current ratio of 4.01. II-VI has a one year low of $27.25 and a one year high of $53.08.

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About II-VI

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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Earnings History and Estimates for II-VI (NASDAQ:IIVI)

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