II-VI Incorporated (IIVI) Issues Q1 Earnings Guidance
II-VI Incorporated (NASDAQ:IIVI) updated its first quarter earnings guidance on Monday. The company provided EPS guidance of $0.37-0.41 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.34. The company issued revenue guidance of $250-260 million, compared to the consensus revenue estimate of $243.56 million.
Several brokerages have recently issued reports on IIVI. Needham & Company LLC raised their price objective on II-VI from $38.00 to $40.00 and gave the stock a buy rating in a research note on Wednesday, June 21st. B. Riley reiterated a buy rating and set a $35.75 price target on shares of II-VI in a research report on Monday, May 8th. Northland Securities started coverage on II-VI in a research report on Thursday, July 6th. They set an outperform rating and a $45.00 price target for the company. BidaskClub cut II-VI from a buy rating to a hold rating in a research report on Monday, July 31st. Finally, Craig Hallum started coverage on II-VI in a research report on Monday, July 24th. They set a buy rating and a $50.00 price target for the company. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company presently has an average rating of Buy and a consensus price target of $42.75.
II-VI Incorporated (NASDAQ:IIVI) opened at 35.35 on Monday. II-VI Incorporated has a 12 month low of $20.29 and a 12 month high of $41.10. The company’s 50-day moving average price is $35.92 and its 200 day moving average price is $34.63. The stock has a market capitalization of $2.23 billion, a PE ratio of 29.43 and a beta of 0.07.
II-VI (NASDAQ:IIVI) last posted its quarterly earnings data on Monday, August 7th. The scientific and technical instruments company reported $0.50 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.35 by $0.15. The firm had revenue of $273.70 million during the quarter, compared to the consensus estimate of $249.90 million. II-VI had a return on equity of 12.49% and a net margin of 8.19%. The firm’s revenue was up 13.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.40 EPS. On average, analysts forecast that II-VI Incorporated will post $1.32 earnings per share for the current fiscal year.
In other II-VI news, Director Francis J. Kramer sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, July 24th. The stock was sold at an average price of $40.00, for a total transaction of $800,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP David G. Wagner sold 4,444 shares of the company’s stock in a transaction that occurred on Monday, July 10th. The shares were sold at an average price of $36.00, for a total value of $159,984.00. Following the sale, the vice president now directly owns 45,284 shares of the company’s stock, valued at $1,630,224. The disclosure for this sale can be found here. 6.80% of the stock is owned by corporate insiders.
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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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