II-VI (IIVI) Posts Quarterly Results
II-VI (NASDAQ:IIVI) announced its earnings results on Tuesday. The company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.01, American Banking News reports. The company had revenue of $187.90 million for the quarter, compared to the consensus estimate of $183.90 million. During the same quarter in the previous year, the company posted $0.16 earnings per share. The company’s revenue for the quarter was up 21.9% on a year-over-year basis. II-VI updated its Q1 guidance to $0.14-0.20 EPS.
In other II-VI news, Director Carl J. Johnson sold 5,000 shares of II-VI stock on the open market in a transaction dated Friday, July 25th. The stock was sold at an average price of $13.75, for a total value of $68,750.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
Shares of II-VI (NASDAQ:IIVI) opened at 13.94 on Tuesday. II-VI has a 52-week low of $12.63 and a 52-week high of $20.80. The stock has a 50-day moving average of $14.10 and a 200-day moving average of $14.77. The company has a market cap of $863.4 million and a price-to-earnings ratio of 24.47.
On a related note, analysts at Zacks upgraded shares of II-VI from an “underperform” rating to a “neutral” rating in a research note on Monday, May 19th. They now have a $13.80 price target on the stock. Three research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $16.14.
II-VI Incorporated (NASDAQ:IIVI) develops, refines, manufactures and markets high-technology materials and derivative precision components and products for precision use in industrial, military, telecommunications, photovoltaic, medical and aerospace applications.
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