II-VI Incorporated (NASDAQ:IIVI) Releases Q1 Earnings Guidance
II-VI Incorporated (NASDAQ:IIVI) updated its first quarter earnings guidance on Monday. The company provided earnings per share (EPS) guidance of $0.37-0.41 for the period, compared to the Thomson Reuters consensus estimate of $0.34. The company issued revenue guidance of $250-260 million, compared to the consensus revenue estimate of $243.56 million.
Several research firms have recently issued reports on IIVI. BidaskClub raised II-VI from a sell rating to a hold rating in a research report on Thursday, June 15th. Needham & Company LLC boosted their target price on II-VI from $38.00 to $40.00 and gave the stock a buy rating in a research report on Wednesday, June 21st. B. Riley lowered II-VI from a buy rating to a neutral rating and boosted their target price for the stock from $35.75 to $39.50 in a research report on Wednesday, July 26th. Craig Hallum assumed coverage on II-VI in a research report on Monday, July 24th. They issued a buy rating and a $50.00 target price for the company. Finally, Benchmark Co. reissued a buy rating on shares of II-VI in a research report on Sunday, June 25th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus target price of $42.75.
Shares of II-VI Incorporated (NASDAQ:IIVI) opened at 35.35 on Monday. II-VI Incorporated has a 1-year low of $20.29 and a 1-year high of $41.10. The company has a market capitalization of $2.23 billion, a P/E ratio of 29.43 and a beta of 0.07. The firm’s 50 day moving average price is $35.92 and its 200-day moving average price is $34.63.
II-VI (NASDAQ:IIVI) last released its quarterly earnings results on Monday, August 7th. The scientific and technical instruments company reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.15. II-VI had a return on equity of 12.49% and a net margin of 8.19%. The company had revenue of $273.70 million during the quarter, compared to analysts’ expectations of $249.90 million. During the same period last year, the business posted $0.40 earnings per share. The firm’s revenue was up 13.4% compared to the same quarter last year. Analysts expect that II-VI Incorporated will post $1.32 EPS for the current year.
In other news, VP David G. Wagner sold 4,444 shares of the firm’s stock in a transaction dated Monday, July 10th. The stock was sold at an average price of $36.00, for a total value of $159,984.00. Following the completion of the transaction, the vice president now directly owns 45,284 shares in the company, valued at $1,630,224. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Francis J. Kramer sold 20,000 shares of the firm’s stock in a transaction dated Monday, July 24th. The stock was sold at an average price of $40.00, for a total value of $800,000.00. The disclosure for this sale can be found here. Company insiders own 6.80% of the company’s stock.
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II-VI Company Profile
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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