Brokerages Expect II-VI, Inc. (IIVI) Will Announce Earnings of $0.67 Per Share

Analysts expect that II-VI, Inc. (NASDAQ:IIVI) will post $0.67 earnings per share (EPS) for the current quarter, Zacks reports. Five analysts have provided estimates for II-VI’s earnings, with the highest EPS estimate coming in at $0.68 and the lowest estimate coming in at $0.65. II-VI posted earnings of $0.39 per share during the same quarter last year, which suggests a positive year-over-year growth rate of 71.8%. The business is expected to issue its next quarterly earnings results on Thursday, February 7th.

On average, analysts expect that II-VI will report full-year earnings of $2.56 per share for the current fiscal year, with EPS estimates ranging from $2.44 to $2.70. For the next fiscal year, analysts forecast that the business will report earnings of $3.01 per share, with EPS estimates ranging from $2.48 to $3.39. Zacks’ earnings per share calculations are a mean average based on a survey of analysts that follow II-VI.

II-VI (NASDAQ:IIVI) last released its earnings results on Thursday, November 1st. The scientific and technical instruments company reported $0.56 earnings per share for the quarter, meeting the consensus estimate of $0.56. II-VI had a net margin of 7.68% and a return on equity of 10.89%. The business had revenue of $314.40 million during the quarter, compared to analysts’ expectations of $310.92 million. During the same period last year, the business earned $0.32 earnings per share. The firm’s revenue was up 20.2% on a year-over-year basis.

Several equities research analysts have issued reports on IIVI shares. BidaskClub raised II-VI from a “sell” rating to a “hold” rating in a report on Tuesday, October 16th. Needham & Company LLC raised their price target on II-VI from $50.00 to $53.00 and gave the company a “buy” rating in a report on Wednesday, August 8th. ValuEngine raised II-VI from a “hold” rating to a “buy” rating in a report on Thursday, November 1st. Loop Capital cut their price target on II-VI to $43.00 and set a “reduce” rating for the company in a report on Tuesday, November 13th. Finally, Benchmark raised their price target on II-VI from $48.00 to $52.00 and gave the company a “buy” rating in a report on Wednesday, August 8th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company’s stock. II-VI currently has a consensus rating of “Hold” and an average target price of $50.92.

Shares of NASDAQ:IIVI traded up $0.08 during midday trading on Wednesday, hitting $37.50. The stock had a trading volume of 67,978 shares, compared to its average volume of 1,537,053. II-VI has a 12 month low of $31.92 and a 12 month high of $53.08. The company has a current ratio of 3.63, a quick ratio of 2.45 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $2.38 billion, a PE ratio of 21.75, a P/E/G ratio of 1.23 and a beta of 0.68.

In other news, VP David G. Wagner sold 4,833 shares of II-VI stock in a transaction on Tuesday, September 25th. The stock was sold at an average price of $49.00, for a total transaction of $236,817.00. Following the completion of the sale, the vice president now owns 65,211 shares of the company’s stock, valued at $3,195,339. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP David G. Wagner sold 33,076 shares of II-VI stock in a transaction on Tuesday, September 4th. The stock was sold at an average price of $48.01, for a total value of $1,587,978.76. Following the sale, the vice president now directly owns 71,578 shares of the company’s stock, valued at approximately $3,436,459.78. The disclosure for this sale can be found here. Insiders have sold a total of 38,109 shares of company stock valued at $1,834,596 in the last ninety days. Insiders own 4.00% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of II-VI by 4.5% during the third quarter. Vanguard Group Inc. now owns 5,867,148 shares of the scientific and technical instruments company’s stock worth $277,516,000 after buying an additional 253,898 shares in the last quarter. Legal & General Group Plc raised its stake in II-VI by 15.4% in the third quarter. Legal & General Group Plc now owns 139,516 shares of the scientific and technical instruments company’s stock valued at $6,579,000 after purchasing an additional 18,651 shares in the last quarter. Teachers Advisors LLC raised its stake in II-VI by 12.9% in the third quarter. Teachers Advisors LLC now owns 131,059 shares of the scientific and technical instruments company’s stock valued at $6,199,000 after purchasing an additional 14,991 shares in the last quarter. Macquarie Group Ltd. raised its stake in II-VI by 24.4% in the third quarter. Macquarie Group Ltd. now owns 1,293,301 shares of the scientific and technical instruments company’s stock valued at $61,173,000 after purchasing an additional 253,776 shares in the last quarter. Finally, Thrivent Financial for Lutherans raised its stake in II-VI by 6.2% in the third quarter. Thrivent Financial for Lutherans now owns 40,106 shares of the scientific and technical instruments company’s stock valued at $1,897,000 after purchasing an additional 2,349 shares in the last quarter. 89.60% of the stock is owned by institutional investors.

About II-VI

II-VI Incorporated develops, manufactures, and markets engineered materials, and optoelectronic components and devices worldwide. The company operates in three segments: II-VI Laser Solutions, II-VI Photonics, and II-VI Performance Products. The II-VI Laser Solutions segment offers optical and electro-optical components and materials primarily used in high-power CO2 lasers; fiber-delivered beam delivery systems, and processing tools and direct diode lasers for industrial lasers; direct diode laser modules, sub-systems, and systems; super-hard materials processing laser systems; and compound semiconductor epitaxial and gallium arsenide wafers.

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