II-VI, Inc. (IIVI) Expected to Announce Quarterly Sales of $277.76 Million

Equities analysts predict that II-VI, Inc. (NASDAQ:IIVI) will post sales of $277.76 million for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for II-VI’s earnings, with the lowest sales estimate coming in at $277.51 million and the highest estimate coming in at $278.00 million. II-VI posted sales of $244.99 million during the same quarter last year, which suggests a positive year-over-year growth rate of 13.4%. The company is scheduled to report its next quarterly earnings results on Tuesday, May 1st.

According to Zacks, analysts expect that II-VI will report full-year sales of $277.76 million for the current financial year, with estimates ranging from $1.11 billion to $1.13 billion. For the next financial year, analysts expect that the business will post sales of $1.27 billion per share, with estimates ranging from $1.25 billion to $1.30 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that cover II-VI.

II-VI (NASDAQ:IIVI) last announced its quarterly earnings results on Thursday, February 1st. The scientific and technical instruments company reported $0.39 EPS for the quarter, beating the Zacks’ consensus estimate of $0.37 by $0.02. II-VI had a return on equity of 11.10% and a net margin of 8.08%. The company had revenue of $281.50 million during the quarter, compared to analysts’ expectations of $277.16 million. During the same period in the prior year, the company earned $0.49 EPS. II-VI’s revenue was up 21.4% compared to the same quarter last year.

IIVI has been the subject of a number of research reports. Northland Securities cut II-VI from an “outperform” rating to a “market perform” rating in a research note on Monday, January 22nd. Needham & Company LLC increased their price target on II-VI from $50.00 to $56.00 and gave the company a “buy” rating in a research note on Monday, November 13th. BidaskClub upgraded II-VI from a “sell” rating to a “hold” rating in a research note on Tuesday, December 12th. raised their target price on II-VI from $50.00 to $56.00 and gave the stock a “buy” rating in a research report on Wednesday, November 15th. Finally, Zacks Investment Research lowered II-VI from a “buy” rating to a “hold” rating in a research report on Tuesday, November 7th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $52.17.

In related news, VP David G. Wagner sold 6,577 shares of the firm’s stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $47.63, for a total transaction of $313,262.51. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Howard H. Xia sold 4,135 shares of the firm’s stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $51.58, for a total value of $213,283.30. The disclosure for this sale can be found here. 3.80% of the stock is owned by company insiders.

Large investors have recently made changes to their positions in the stock. Stone Ridge Asset Management LLC bought a new position in II-VI during the 4th quarter worth $210,000. Suntrust Banks Inc. bought a new position in shares of II-VI in the 4th quarter worth about $212,000. US Bancorp DE raised its position in shares of II-VI by 43.3% in the 4th quarter. US Bancorp DE now owns 4,891 shares of the scientific and technical instruments company’s stock worth $229,000 after acquiring an additional 1,477 shares in the last quarter. Granite Point Capital Management L.P. bought a new position in shares of II-VI in the 4th quarter worth about $282,000. Finally, Affinity Investment Advisors LLC bought a new position in shares of II-VI in the 4th quarter worth about $302,000. 81.26% of the stock is owned by institutional investors and hedge funds.

II-VI (NASDAQ IIVI) opened at $39.45 on Thursday. II-VI has a 12 month low of $27.25 and a 12 month high of $53.08. The company has a market capitalization of $2,460.00 and a price-to-earnings ratio of 29.89. The company has a quick ratio of 2.71, a current ratio of 4.01 and a debt-to-equity ratio of 0.48.

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About II-VI

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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Earnings History and Estimates for II-VI (NASDAQ:IIVI)

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