Zacks: Analysts Expect II-VI, Inc. (IIVI) Will Announce Quarterly Sales of $310.11 Million

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Equities research analysts predict that II-VI, Inc. (NASDAQ:IIVI) will report sales of $310.11 million for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for II-VI’s earnings. The highest sales estimate is $310.42 million and the lowest is $310.00 million. II-VI reported sales of $261.50 million during the same quarter last year, which would suggest a positive year over year growth rate of 18.6%. The firm is scheduled to announce its next earnings report on Tuesday, October 30th.

According to Zacks, analysts expect that II-VI will report full-year sales of $1.32 billion for the current year, with estimates ranging from $1.28 billion to $1.34 billion. For the next year, analysts anticipate that the business will report sales of $1.47 billion per share, with estimates ranging from $1.42 billion to $1.55 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow II-VI.

II-VI (NASDAQ:IIVI) last announced its earnings results on Tuesday, August 7th. The scientific and technical instruments company reported $0.52 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.39 by $0.13. The firm had revenue of $321.10 million during the quarter, compared to analyst estimates of $301.45 million. II-VI had a net margin of 7.59% and a return on equity of 10.09%. II-VI’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 EPS.

IIVI has been the subject of a number of recent analyst reports. ValuEngine lowered shares of II-VI from a “buy” rating to a “hold” rating in a research report on Thursday, April 26th. Needham & Company LLC increased their target price on shares of II-VI from $50.00 to $53.00 and gave the company a “buy” rating in a research report on Wednesday. Zacks Investment Research lowered shares of II-VI from a “buy” rating to a “sell” rating in a research report on Friday, May 4th. BidaskClub lowered shares of II-VI from a “hold” rating to a “sell” rating in a research report on Saturday, April 28th. Finally, B. Riley decreased their target price on shares of II-VI from $54.00 to $49.00 and set a “buy” rating for the company in a research report on Thursday, August 2nd. 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. The stock presently has a consensus rating of “Buy” and a consensus target price of $53.54.

In other news, VP David G. Wagner sold 6,579 shares of the firm’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 transaction, the vice president now owns 53,248 shares in the company, valued at approximately $2,347,704.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Mary Jane Raymond sold 4,000 shares of the firm’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 transaction, the chief financial officer now 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 90 days, insiders have sold 20,029 shares of company stock valued at $845,604. Insiders own 3.80% of the company’s stock.

Several large investors have recently bought and sold shares of the company. BlackRock Inc. boosted its holdings in shares of II-VI by 9.3% in the second quarter. BlackRock Inc. now owns 8,651,418 shares of the scientific and technical instruments company’s stock worth $375,905,000 after buying an additional 739,662 shares during the period. Rice Hall James & Associates LLC acquired a new position in shares of II-VI in the second quarter worth about $9,705,000. Robecosam AG boosted its holdings in shares of II-VI by 30.3% in the second quarter. Robecosam AG now owns 860,100 shares of the scientific and technical instruments company’s stock worth $37,457,000 after buying an additional 200,100 shares during the period. Carillon Tower Advisers Inc. acquired a new position in shares of II-VI in the first quarter worth about $7,064,000. Finally, Emerald Mutual Fund Advisers Trust boosted its holdings in shares of II-VI by 25.9% in the second quarter. Emerald Mutual Fund Advisers Trust now owns 382,540 shares of the scientific and technical instruments company’s stock worth $16,621,000 after buying an additional 78,580 shares during the period. Institutional investors own 95.72% of the company’s stock.

II-VI traded up $0.45, reaching $45.25, on Tuesday, according to MarketBeat Ratings. The company had a trading volume of 533,840 shares, compared to its average volume of 647,015. The firm has a market capitalization of $2.80 billion, a PE ratio of 26.31, a P/E/G ratio of 1.29 and a beta of 0.02. The company has a quick ratio of 2.45, a current ratio of 3.22 and a debt-to-equity ratio of 0.43. II-VI has a one year low of $34.05 and a one year high of $53.08.

II-VI Company Profile

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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