Zacks: Analysts Anticipate II-VI, Inc. (NASDAQ:IIVI) Will Post Earnings of $0.60 Per Share

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Brokerages expect II-VI, Inc. (NASDAQ:IIVI) to post earnings per share of $0.60 for the current fiscal quarter, according to Zacks Investment Research. Five analysts have provided estimates for II-VI’s earnings, with estimates ranging from $0.58 to $0.62. II-VI reported earnings of $0.56 per share during the same quarter last year, which indicates a positive year over year growth rate of 7.1%. The company is scheduled to issue its next earnings results on Thursday, November 7th.

On average, analysts expect that II-VI will report full year earnings of $2.84 per share for the current financial year, with EPS estimates ranging from $2.66 to $3.02. For the next year, analysts forecast that the business will post earnings of $3.10 per share, with EPS estimates ranging from $2.15 to $3.60. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research firms that that provide coverage for II-VI.

II-VI (NASDAQ:IIVI) last posted its earnings results on Tuesday, August 13th. The scientific and technical instruments company reported $0.67 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.38 by $0.29. II-VI had a net margin of 7.89% and a return on equity of 10.37%. The firm had revenue of $362.70 million during the quarter, compared to the consensus estimate of $348.02 million. During the same period last year, the firm posted $0.52 EPS. The firm’s revenue for the quarter was up 13.0% on a year-over-year basis.

Several equities analysts have weighed in on IIVI shares. Morgan Stanley dropped their target price on shares of II-VI from $44.00 to $42.00 and set an “equal weight” rating for the company in a report on Monday, October 7th. Needham & Company LLC restated a “buy” rating and set a $46.00 target price on shares of II-VI in a report on Thursday, September 26th. BTIG Research set a $31.00 target price on shares of II-VI and gave the company a “buy” rating in a report on Friday, August 9th. B. Riley dropped their target price on shares of II-VI from $41.00 to $39.00 and set a “neutral” rating for the company in a report on Wednesday, August 14th. Finally, BidaskClub downgraded shares of II-VI from a “hold” rating to a “sell” rating in a report on Thursday, October 10th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $43.91.

In other news, CFO Mary Jane Raymond sold 16,000 shares of II-VI stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $39.25, for a total transaction of $628,000.00. Following the completion of the sale, the chief financial officer now directly owns 48,427 shares in the company, valued at $1,900,759.75. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Marc Y. E. Pelaez sold 1,000 shares of II-VI stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $40.72, for a total transaction of $40,720.00. Following the sale, the director now owns 64,082 shares of the company’s stock, valued at $2,609,419.04. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 17,500 shares of company stock valued at $687,300. Insiders own 4.20% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. Parametric Portfolio Associates LLC boosted its position in shares of II-VI by 49.3% in the second quarter. Parametric Portfolio Associates LLC now owns 160,143 shares of the scientific and technical instruments company’s stock worth $5,855,000 after acquiring an additional 52,857 shares during the last quarter. Divisar Capital Management LLC boosted its position in shares of II-VI by 10.3% in the second quarter. Divisar Capital Management LLC now owns 214,526 shares of the scientific and technical instruments company’s stock worth $7,843,000 after acquiring an additional 20,000 shares during the last quarter. Bridge City Capital LLC boosted its position in shares of II-VI by 0.5% in the second quarter. Bridge City Capital LLC now owns 56,491 shares of the scientific and technical instruments company’s stock worth $2,065,000 after acquiring an additional 280 shares during the last quarter. Doyle Wealth Management acquired a new stake in shares of II-VI in the second quarter worth approximately $55,000. Finally, Congress Asset Management Co. MA boosted its position in shares of II-VI by 17.8% in the second quarter. Congress Asset Management Co. MA now owns 110,260 shares of the scientific and technical instruments company’s stock worth $4,031,000 after acquiring an additional 16,680 shares during the last quarter. Institutional investors and hedge funds own 92.72% of the company’s stock.

NASDAQ:IIVI traded up $0.37 during mid-day trading on Tuesday, hitting $32.61. 1,114,123 shares of the company’s stock traded hands, compared to its average volume of 912,411. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.91 and a current ratio of 3.00. The firm’s 50 day simple moving average is $35.85 and its 200 day simple moving average is $36.71. II-VI has a 1 year low of $29.31 and a 1 year high of $47.53. The company has a market cap of $2.09 billion, a PE ratio of 20.01 and a beta of 1.06.

II-VI Company Profile

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.

Further Reading: Equal Weight Rating

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

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