II-VI, Inc. (IIVI) Expected to Post Quarterly Sales of $310.11 Million

Brokerages expect that II-VI, Inc. (NASDAQ:IIVI) will post sales of $310.11 million for the current quarter, Zacks reports. Four analysts have provided estimates for II-VI’s earnings, with estimates ranging from $310.00 million to $310.42 million. II-VI posted sales of $261.50 million during the same quarter last year, which suggests a positive year over year growth rate of 18.6%. The firm is scheduled to announce its next quarterly earnings results on Tuesday, October 30th.

According to Zacks, analysts expect that II-VI will report full year sales of $1.32 billion for the current financial year, with estimates ranging from $1.28 billion to $1.34 billion. For the next fiscal year, analysts anticipate that the firm will report sales of $1.47 billion per share, with estimates ranging from $1.42 billion to $1.55 billion. Zacks’ sales calculations are an average based on a survey of research firms that cover II-VI.

II-VI (NASDAQ:IIVI) last issued its quarterly earnings data on Tuesday, August 7th. The scientific and technical instruments company reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.13. The business had revenue of $321.10 million during the quarter, compared to the consensus estimate of $301.45 million. II-VI had a net margin of 7.59% and a return on equity of 10.09%. The company’s revenue was up 17.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.50 earnings per share.

A number of brokerages have weighed in on IIVI. Needham & Company LLC decreased their price objective on shares of II-VI from $56.00 to $50.00 and set a “buy” rating for the company in a research report on Wednesday, May 2nd. ValuEngine upgraded shares of II-VI from a “hold” rating to a “buy” rating in a research report on Wednesday. B. Riley upped their price target on shares of II-VI from $49.00 to $54.00 and gave the stock a “buy” rating in a research report on Wednesday. Zacks Investment Research downgraded shares of II-VI from a “buy” rating to a “sell” rating in a research report on Friday, May 4th. Finally, Cowen restated a “buy” rating and set a $64.00 price target on shares of II-VI in a research report on Wednesday. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $53.54.

In related news, VP David G. Wagner sold 6,579 shares of the company’s stock in a transaction dated Thursday, May 31st. The shares were sold at an average price of $44.09, for a total transaction of $290,068.11. Following the completion of the sale, the vice president now owns 53,248 shares of the company’s stock, valued at approximately $2,347,704.32. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Mary Jane Raymond sold 4,000 shares of the company’s stock in a transaction dated Friday, August 10th. The shares were sold at an average price of $44.88, for a total transaction of $179,520.00. Following the sale, the chief financial officer now directly owns 47,368 shares of the company’s stock, valued at approximately $2,125,875.84. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 20,029 shares of company stock valued at $845,604. 3.80% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in IIVI. Janus Henderson Group PLC purchased a new stake in shares of II-VI in the 2nd quarter valued at approximately $244,000. Gagnon Securities LLC purchased a new stake in shares of II-VI in the 2nd quarter valued at approximately $254,000. Affinity Investment Advisors LLC grew its stake in shares of II-VI by 23.4% in the 1st quarter. Affinity Investment Advisors LLC now owns 7,926 shares of the scientific and technical instruments company’s stock valued at $324,000 after buying an additional 1,504 shares during the period. Sheets Smith Wealth Management grew its stake in shares of II-VI by 60.6% in the 2nd quarter. Sheets Smith Wealth Management now owns 8,391 shares of the scientific and technical instruments company’s stock valued at $365,000 after buying an additional 3,166 shares during the period. Finally, Ontario Teachers Pension Plan Board purchased a new stake in shares of II-VI in the 2nd quarter valued at approximately $384,000. 95.72% of the stock is owned by institutional investors.

Shares of II-VI stock traded up $0.45 during trading hours on Tuesday, reaching $45.25. The stock had a trading volume of 533,840 shares, compared to its average volume of 647,015. The company has a market cap of $2.80 billion, a P/E ratio of 26.31, a price-to-earnings-growth ratio of 1.29 and a beta of 0.02. II-VI has a twelve month low of $34.05 and a twelve month high of $53.08. The company has a debt-to-equity ratio of 0.43, a quick ratio of 2.45 and a current ratio of 3.22.

About II-VI

II-VI Incorporated provides engineered materials and optoelectronic components worldwide. The company is a vertically integrated manufacturing company that develops innovative products for various applications in the industrial, optical communications, military, life sciences, semiconductor equipment, and consumer markets.

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