II-VI, Inc. (IIVI) Expected to Post Quarterly Sales of $310.09 Million

Equities research analysts expect II-VI, Inc. (NASDAQ:IIVI) to announce sales of $310.09 million for the current fiscal quarter, according to Zacks. Five analysts have issued estimates for II-VI’s earnings. The lowest sales estimate is $310.00 million and the highest is $310.42 million. II-VI posted sales of $261.50 million in the same quarter last year, which suggests a positive year-over-year growth rate of 18.6%. The company is expected to issue its next earnings report before the market opens on Thursday, November 1st.

On average, analysts expect that II-VI will report full-year sales of $1.33 billion for the current fiscal year, with estimates ranging from $1.28 billion to $1.34 billion. For the next year, analysts anticipate that the firm will report sales of $1.48 billion, with estimates ranging from $1.42 billion to $1.55 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that that provide coverage for II-VI.

II-VI (NASDAQ:IIVI) last released its earnings results on Tuesday, August 7th. The scientific and technical instruments company reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.13. The business had revenue of $321.10 million during the quarter, compared to the consensus estimate of $301.45 million. II-VI had a net margin of 7.59% and a return on equity of 10.09%. The firm’s revenue for the quarter was up 17.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.50 earnings per share.

IIVI has been the subject of a number of analyst reports. Needham & Company LLC lifted their price objective on shares of II-VI from $50.00 to $53.00 and gave the company a “buy” rating in a research report on Wednesday, August 8th. Cowen reissued a “buy” rating and issued a $64.00 price objective on shares of II-VI in a research report on Wednesday, August 8th. ValuEngine raised shares of II-VI from a “hold” rating to a “buy” rating in a research report on Wednesday, August 8th. B. Riley decreased their price objective on shares of II-VI from $54.00 to $49.00 and set a “buy” rating for the company in a research report on Thursday, August 2nd. Finally, Benchmark lifted their price objective on shares of II-VI from $48.00 to $52.00 and gave the company a “buy” rating in a research report on Wednesday, August 8th. Five analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $53.69.

Shares of IIVI traded down $0.87 during midday trading on Friday, reaching $38.98. The stock had a trading volume of 339,700 shares, compared to its average volume of 707,325. II-VI has a one year low of $36.60 and a one year high of $53.08. The company has a market cap of $2.60 billion, a PE ratio of 22.65, a price-to-earnings-growth ratio of 1.24 and a beta of 0.23. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.22 and a quick ratio of 2.17.

In other news, CEO Vincent D. Mattera, Jr. sold 9,450 shares of the firm’s stock in a transaction dated Wednesday, August 1st. The shares were sold at an average price of $39.79, for a total transaction of $376,015.50. Following the completion of the sale, the chief executive officer now owns 250,310 shares in the company, valued at approximately $9,959,834.90. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP David G. Wagner sold 4,833 shares of the firm’s stock in a transaction dated Tuesday, September 25th. The stock was sold at an average price of $49.00, for a total transaction of $236,817.00. Following the sale, the vice president now owns 65,211 shares of the company’s stock, valued at approximately $3,195,339. The disclosure for this sale can be found here. In the last three months, insiders sold 97,074 shares of company stock valued at $4,439,836. Insiders own 4.00% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Tower Research Capital LLC TRC acquired a new stake in shares of II-VI during the 2nd quarter worth about $128,000. Jaffetilchin Investment Partners LLC acquired a new stake in shares of II-VI during the 3rd quarter worth about $238,000. Janus Henderson Group PLC acquired a new stake in shares of II-VI during the 2nd quarter worth about $244,000. Gagnon Securities LLC acquired a new stake in shares of II-VI during the 2nd quarter worth about $254,000. Finally, Sheets Smith Wealth Management lifted its stake in shares of II-VI by 60.6% during the 2nd quarter. Sheets Smith Wealth Management now owns 8,391 shares of the scientific and technical instruments company’s stock worth $365,000 after buying an additional 3,166 shares during the last quarter. Institutional investors own 92.72% of the company’s stock.

About II-VI

II-VI Incorporated develops, manufactures, and markets engineered materials, and optoelectronic components and devices worldwide. The company operates in three segments: II-VI Laser Solutions, II-VI Photonics, and II-VI Performance Products. The II-VI Laser Solutions segment offers optical and electro-optical components and materials primarily used in high-power CO2 lasers; fiber-delivered beam delivery systems, and processing tools and direct diode lasers for industrial lasers; direct diode laser modules, sub-systems, and systems; super-hard materials processing laser systems; and compound semiconductor epitaxial and gallium arsenide wafers.

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