II-VI (NASDAQ:IIVI) Releases Q2 2022 Earnings Guidance

II-VI (NASDAQ:IIVI) updated its second quarter 2022 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $0.750-$0.950 for the period, compared to the Thomson Reuters consensus estimate of $0.930. The company issued revenue guidance of $790 million-$840 million, compared to the consensus revenue estimate of $844.64 million.

Several research firms have issued reports on IIVI. Citigroup decreased their price objective on shares of II-VI from $75.00 to $68.00 and set a neutral rating on the stock in a report on Friday, August 20th. Zacks Investment Research downgraded shares of II-VI from a hold rating to a sell rating in a report on Tuesday, November 16th. Deutsche Bank Aktiengesellschaft downgraded shares of II-VI from a buy rating to a hold rating and set a $75.00 price objective on the stock. in a report on Wednesday, September 1st. TheStreet downgraded shares of II-VI from a b rating to a c+ rating in a research note on Wednesday, September 8th. Finally, Benchmark decreased their price target on shares of II-VI from $105.00 to $90.00 and set a buy rating on the stock in a research note on Wednesday, August 11th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of Buy and a consensus target price of $90.93.

Shares of NASDAQ:IIVI traded up $0.19 on Thursday, reaching $64.37. 1,067,214 shares of the company were exchanged, compared to its average volume of 1,591,863. The company has a current ratio of 2.97, a quick ratio of 2.24 and a debt-to-equity ratio of 0.32. II-VI has a 1-year low of $54.35 and a 1-year high of $100.44. The firm has a market cap of $6.83 billion, a price-to-earnings ratio of 25.96, a price-to-earnings-growth ratio of 1.42 and a beta of 1.50. The company has a 50-day moving average of $60.75 and a 200-day moving average of $64.79.

II-VI (NASDAQ:IIVI) last issued its quarterly earnings data on Tuesday, November 9th. The scientific and technical instruments company reported $0.87 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.83 by $0.04. II-VI had a net margin of 10.27% and a return on equity of 14.00%. The company had revenue of $795.10 million during the quarter, compared to the consensus estimate of $809.79 million. During the same quarter last year, the company earned $0.38 earnings per share. II-VI’s revenue for the quarter was up 9.2% on a year-over-year basis. As a group, analysts forecast that II-VI will post 3.1 earnings per share for the current year.

In other news, Director Joseph J. Corasanti sold 8,620 shares of the stock in a transaction that occurred on Friday, November 12th. The stock was sold at an average price of $64.76, for a total transaction of $558,231.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 2.50% of the company’s stock.

About II-VI

II-VI, Inc engages in the development, refinement, manufacturing, and marketing of engineered materials and opto-electronic components and devices for precision in the field of industrial materials processing, optical communications, aerospace and defense, consumer electronics, semiconductor capital equipment, life sciences, and automotive applications and markets.

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

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