II-VI, Inc. (IIVI) Expected to Announce Quarterly Sales of $276.36 Million

Equities analysts predict that II-VI, Inc. (NASDAQ:IIVI) will post $276.36 million in sales for the current quarter, Zacks reports. Four analysts have issued estimates for II-VI’s earnings, with estimates ranging from $275.00 million to $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 12.8%. The firm is scheduled to announce its next earnings results on Tuesday, May 1st.

On average, analysts expect that II-VI will report full-year sales of $276.36 million for the current year, with estimates ranging from $1.11 billion to $1.13 billion. For the next year, analysts forecast that the firm will report 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 analysts that cover II-VI.

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

IIVI has been the topic of several analyst reports. BidaskClub raised II-VI from a “sell” rating to a “hold” rating in a research report on Tuesday, December 12th. Northland Securities cut II-VI from an “outperform” rating to a “market perform” rating in a research report on Monday, January 22nd. Loop Capital initiated coverage on II-VI in a research report on Monday, January 29th. They issued a “buy” rating and a $70.00 price objective on the stock. Craig Hallum lowered their price objective on II-VI to $53.00 and set a “buy” rating on the stock in a research report on Friday, February 2nd. Finally, Piper Jaffray initiated coverage on II-VI in a research report on Tuesday, February 13th. They issued an “overweight” rating and a $50.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $53.50.

IIVI stock opened at $40.80 on Friday. The company has a market capitalization of $2,593.19, a P/E ratio of 27.57, a price-to-earnings-growth ratio of 1.58 and a beta of 0.10. II-VI has a 12-month low of $27.25 and a 12-month high of $53.08. The company has a current ratio of 4.01, a quick ratio of 2.71 and a debt-to-equity ratio of 0.48.

In other news, CEO Vincent D. Mattera, Jr. sold 8,000 shares of the stock in a transaction on Tuesday, March 20th. The stock was sold at an average price of $47.34, for a total transaction of $378,720.00. Following the transaction, the chief executive officer now directly owns 260,335 shares of the company’s stock, valued at approximately $12,324,258.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 3.80% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp lifted its holdings in shares of II-VI by 7.3% during the 4th quarter. Bank of New York Mellon Corp now owns 1,341,583 shares of the scientific and technical instruments company’s stock valued at $62,987,000 after buying an additional 91,739 shares during the period. Arizona State Retirement System lifted its holdings in shares of II-VI by 219.8% during the 4th quarter. Arizona State Retirement System now owns 92,246 shares of the scientific and technical instruments company’s stock valued at $4,331,000 after buying an additional 63,398 shares during the period. Argent Capital Management LLC lifted its holdings in shares of II-VI by 23.0% during the 3rd quarter. Argent Capital Management LLC now owns 57,710 shares of the scientific and technical instruments company’s stock valued at $2,375,000 after buying an additional 10,785 shares during the period. Rhumbline Advisers lifted its holdings in shares of II-VI by 12.3% during the 4th quarter. Rhumbline Advisers now owns 150,550 shares of the scientific and technical instruments company’s stock valued at $7,068,000 after buying an additional 16,542 shares during the period. Finally, Columbia Partners L L C Investment Management bought a new position in shares of II-VI during the 4th quarter valued at $1,550,000. 89.12% of the stock is currently owned by hedge funds and other institutional investors.

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

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