Zacks: Analysts Expect II-VI Incorporated (IIVI) Will Post Earnings of $0.36 Per Share
Brokerages expect II-VI Incorporated (NASDAQ:IIVI) to announce earnings of $0.36 per share for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for II-VI’s earnings. The highest EPS estimate is $0.37 and the lowest is $0.34. II-VI reported earnings per share of $0.35 in the same quarter last year, which would suggest a positive year over year growth rate of 2.9%. The company is scheduled to issue its next quarterly earnings results before the market opens on Tuesday, October 31st.
According to Zacks, analysts expect that II-VI will report full year earnings of $1.92 per share for the current fiscal year, with EPS estimates ranging from $1.56 to $2.28. For the next fiscal year, analysts anticipate that the firm will report earnings of $2.57 per share, with EPS estimates ranging from $2.14 to $3.00. Zacks’ EPS averages are a mean average based on a survey of research firms that cover II-VI.
II-VI (NASDAQ:IIVI) last released its quarterly earnings results on Monday, August 7th. The scientific and technical instruments company reported $0.50 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.33 by $0.17. The firm had revenue of $273.70 million during the quarter, compared to the consensus estimate of $249.90 million. II-VI had a net margin of 9.80% and a return on equity of 12.94%. The company’s revenue for the quarter was up 13.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.40 earnings per share.
A number of brokerages have recently issued reports on IIVI. Zacks Investment Research downgraded shares of II-VI from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 11th. B. Riley cut shares of II-VI from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $35.75 to $39.50 in a research note on Wednesday, July 26th. Craig Hallum assumed coverage on shares of II-VI in a research note on Monday, July 24th. They issued a “buy” rating and a $50.00 price objective on the stock. Benchmark Co. raised their target price on shares of II-VI from $40.00 to $44.00 and gave the stock a “buy” rating in a research note on Tuesday, August 8th. Finally, BidaskClub cut shares of II-VI from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $44.92.
In other news, Director Francis J. Kramer sold 25,000 shares of the business’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $42.00, for a total transaction of $1,050,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 3.80% of the company’s stock.
Several hedge funds have recently modified their holdings of the company. UBS Asset Management Americas Inc. boosted its position in II-VI by 94.5% in the first quarter. UBS Asset Management Americas Inc. now owns 34,030 shares of the scientific and technical instruments company’s stock valued at $1,227,000 after buying an additional 16,532 shares during the last quarter. Alliancebernstein L.P. boosted its position in II-VI by 6.0% in the 1st quarter. Alliancebernstein L.P. now owns 85,938 shares of the scientific and technical instruments company’s stock worth $3,098,000 after purchasing an additional 4,900 shares in the last quarter. OppenheimerFunds Inc. boosted its position in II-VI by 22.6% in the 1st quarter. OppenheimerFunds Inc. now owns 21,405 shares of the scientific and technical instruments company’s stock worth $771,000 after purchasing an additional 3,948 shares in the last quarter. Teachers Advisors LLC boosted its position in II-VI by 0.7% in the 1st quarter. Teachers Advisors LLC now owns 384,608 shares of the scientific and technical instruments company’s stock worth $13,865,000 after purchasing an additional 2,857 shares in the last quarter. Finally, Legal & General Group Plc boosted its position in II-VI by 0.7% in the 1st quarter. Legal & General Group Plc now owns 97,851 shares of the scientific and technical instruments company’s stock worth $3,528,000 after purchasing an additional 663 shares in the last quarter. Institutional investors and hedge funds own 78.17% of the company’s stock.
II-VI (NASDAQ IIVI) opened at 44.55 on Monday. The firm has a market capitalization of $2.82 billion, a PE ratio of 30.10 and a beta of 0.09. II-VI has a one year low of $26.50 and a one year high of $44.62. The stock’s 50 day moving average is $40.92 and its 200-day moving average is $35.93.
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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