II-VI, Inc. (IIVI) Releases Q1 Earnings Guidance
II-VI, Inc. (NASDAQ:IIVI) issued an update on its first quarter earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $0.14-0.20 for the period, compared to the Thomson Reuters consensus estimate of $0.20, American Banking News reports. The company issued revenue guidance of $170-185 million, compared to the consensus revenue estimate of $192.33 million.
Shares of II-VI, Inc. (NASDAQ:IIVI) traded up 3.71% during mid-day trading on Tuesday, hitting $14.26. The stock had a trading volume of 86,843 shares. II-VI, Inc. has a one year low of $12.63 and a one year 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 $883.3 million and a price-to-earnings ratio of 24.47.
II-VI (NASDAQ:IIVI) last released its earnings data on Tuesday, August 5th. The company reported $0.20 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.19 by $0.01. The company had revenue of $187.90 million for the quarter, compared to the consensus estimate of $183.90 million. During the same quarter last year, the company posted $0.16 earnings per share. II-VI’s revenue was up 21.9% compared to the same quarter last year. Analysts expect that II-VI, Inc. will post $0.72 EPS for the current fiscal year.
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 analysts have rated the stock with a hold rating and one has given a buy rating to the stock. II-VI has an average rating of Hold and an average target price of $16.14.
In other II-VI news, Director Carl J. Johnson sold 5,000 shares of the stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $13.75, for a total value of $68,750.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
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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