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.

TRADEMARK VIOLATION NOTICE: “II-VI Incorporated (IIVI) Issues Q1 Earnings Guidance” was published by Daily Political and is the property of of Daily Political. If you are viewing this article on another site, it was illegally copied and reposted in violation of international trademark and copyright law. The legal version of this article can be accessed at https://www.dailypolitical.com/2017/08/07/ii-vi-incorporated-iivi-issues-q1-earnings-guidance.html.

About II-VI

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.

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

Receive News & Ratings for II-VI Incorporated Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for II-VI Incorporated and related companies with MarketBeat.com's FREE daily email newsletter.