Brokerages expect II-VI Incorporated (NASDAQ:IIVI) to report quarterly sales of $805.07 million
Analysts predict II-VI Incorporated (NASDAQ:IIVI – Get Rating) will post revenue of $805.07 million for the current fiscal quarter, according to Zacks. Seven analysts made earnings estimates for II-VI, with estimates ranging from $798.59 million to $808.50 million. II-VI recorded sales of $783.23 million in the same quarter last year, suggesting a positive year-over-year growth rate of 2.8%. The company is expected to release its next quarterly earnings report on Thursday, May 5.
On average, analysts expect II-VI to bring in annual sales of $3.25 billion in the current fiscal year, with estimates ranging from $3.24 billion to $3.27 billion. . For the next fiscal year, analysts expect the company to register sales of $3.63 billion, with estimates ranging from $3.57 billion to $3.71 billion. Zacks Investment Research sales calculations are an average based on a survey of analysts who cover II-VI.
II-VI (NASDAQ:IIVI – Get Rating) last announced its results on Wednesday, February 9. The scientific and engineering instruments company reported EPS of $0.92 for the quarter, beating consensus analyst estimates of $0.74 by $0.18. II-VI had a return on equity of 13.66% and a net margin of 9.57%. In the same quarter a year earlier, the company posted earnings of $0.89 per share.
The IIVI has been the subject of a number of reports by research analysts. Morgan Stanley upgraded II-VI from an “equal weight” rating to an “overweight” rating and raised its target price for the company from $80.00 to $82.00 in a Wednesday, Dec. 15 report . KeyCorp reduced II-VI to a “hold” rating in a Friday, January 14 report. B. Riley raised his price target on II-VI from $87.00 to $88.00 and gave the company a “buy” rating in a Thursday, February 10 research note. Citigroup raised its price target on II-VI from $68.00 to $75.00 and gave the company a “neutral” rating in a Thursday, Feb. 10 research note. Finally, Canaccord Genuity Group reduced its price target on II-VI from $104.00 to $88.00 and set a “buy” rating for the company in a research note on Friday, February 11. One equity research analyst gave the stock a sell rating, five gave the company a hold rating and nine gave the company a buy rating. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $81.31.
In other II-VI news, Chairman Walter Robert Bashaw II sold 350 II-VI shares in a trade that took place on Wednesday, January 5. The stock was sold at an average price of $73.90, for a total transaction of $25,865.00. The transaction was disclosed in a filing with the SEC, which is available on the SEC’s website. Additionally, CEO Vincent D. Mattera, Jr. sold 8,000 II-VI shares in a trade that took place on Wednesday, December 15. The stock was sold at an average price of $70.00, for a total value of $560,000.00. The disclosure of this sale can be found here. Insiders have sold a total of 16,600 shares of the company worth $1,163,270 over the past three months. Company insiders own 2.50% of the company’s shares.
Institutional investors and hedge funds have recently increased or reduced their stakes in the company. First Horizon Advisors Inc. increased its position in II-VI by 276.0% during the fourth quarter. First Horizon Advisors Inc. now owns 485 shares of the scientific and technical instruments company worth $33,000 after purchasing an additional 356 shares during the period. Lindbrook Capital LLC bought a new position in II-VI stocks in Q4 valued at around $140,000. IFP Advisors Inc increased its holding in II-VI shares by 12.4% in the 3rd quarter. IFP Advisors Inc now owns 2,500 shares of the scientific and technical instruments company valued at $148,000 after buying an additional 275 shares in the last quarter. Crestwood Advisors Group LLC bought a new position in shares of II-VI in Q4 valued at around $284,000. Finally, Busey Wealth Management bought a new position in II-VI stocks in Q3 valued at around $303,000. 99.48% of the shares are currently held by institutional investors.
Shares of stocks II-VI opened at $70.67 on Friday. The company has a 50-day moving average of $67.88 and a 200-day moving average of $63.97. II-VI has a 12-month low of $54.35 and a 12-month high of $88.11. The stock has a market capitalization of $7.51 billion, a price-to-earnings ratio of 32.27, a growth price-to-earnings ratio of 1.67 and a beta of 1.48. The company has a debt ratio of 0.30, a current ratio of 2.00 and a quick ratio of 1.61.
About II-VI (Get a rating)
II-VI, Inc. engages in the development, refinement, manufacture and marketing of engineering materials and precision optoelectronic components and devices in the field of industrial materials processing, optical communications, aerospace and defense, consumer electronics, semiconductor equipment, life sciences, automotive applications and markets.
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