Zacks: Analysts Anticipate II-VI Incorporated (IIVI) Will Announce Quarterly Sales of $255.05 Million
Equities research analysts expect that II-VI Incorporated (NASDAQ:IIVI) will report $255.05 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for II-VI’s earnings, with the highest sales estimate coming in at $255.09 million and the lowest estimate coming in at $255.00 million. II-VI posted sales of $221.52 million in the same quarter last year, which suggests a positive year-over-year growth rate of 15.1%. The business is expected to issue its next quarterly earnings results on Tuesday, October 24th.
On average, analysts expect that II-VI will report full-year sales of $255.05 million for the current fiscal year, with estimates ranging from $1.06 billion to $1.12 billion. For the next year, analysts anticipate that the firm will post sales of $1.24 billion per share, with estimates ranging from $1.17 billion to $1.30 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that that provide coverage for II-VI.
II-VI (NASDAQ:IIVI) last announced its quarterly earnings results on Monday, August 7th. The scientific and technical instruments company reported $0.50 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.33 by $0.17. II-VI had a net margin of 9.80% and a return on equity of 12.94%. The company had revenue of $273.70 million for the quarter, compared to analyst estimates of $249.90 million. During the same quarter in the prior year, the business posted $0.40 EPS. II-VI’s quarterly revenue was up 13.4% on a year-over-year basis.
IIVI has been the topic of a number of research reports. BidaskClub raised shares of II-VI from a “sell” rating to a “hold” rating in a research report on Thursday, June 15th. Needham & Company LLC boosted their price objective on shares of II-VI from $38.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, June 21st. Benchmark Co. reissued a “buy” rating on shares of II-VI in a research report on Sunday, June 25th. Northland Securities initiated coverage on shares of II-VI in a research report on Thursday, July 6th. They issued an “outperform” rating and a $45.00 price objective on the stock. Finally, Craig Hallum initiated coverage on shares of II-VI in a research report on Monday, July 24th. They issued a “buy” rating and a $50.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $44.92.
In other II-VI news, Director Francis J. Kramer sold 25,000 shares of the company’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $42.00, for a total transaction of $1,050,000.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 3.80% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of IIVI. BlackRock Inc. raised its position in II-VI by 55,200.0% during the first quarter. BlackRock Inc. now owns 6,752,130 shares of the scientific and technical instruments company’s stock worth $243,415,000 after acquiring an additional 6,739,920 shares in the last quarter. Vanguard Group Inc. raised its position in II-VI by 10.0% during the first quarter. Vanguard Group Inc. now owns 4,959,583 shares of the scientific and technical instruments company’s stock worth $178,793,000 after acquiring an additional 450,482 shares in the last quarter. Renaissance Technologies LLC raised its position in II-VI by 30.2% during the first quarter. Renaissance Technologies LLC now owns 1,090,591 shares of the scientific and technical instruments company’s stock worth $39,316,000 after acquiring an additional 252,891 shares in the last quarter. Thrivent Financial For Lutherans raised its position in II-VI by 569.6% during the first quarter. Thrivent Financial For Lutherans now owns 195,800 shares of the scientific and technical instruments company’s stock worth $7,059,000 after acquiring an additional 166,560 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in II-VI by 3.5% during the first quarter. Dimensional Fund Advisors LP now owns 3,563,076 shares of the scientific and technical instruments company’s stock worth $128,453,000 after acquiring an additional 121,261 shares in the last quarter. 78.25% of the stock is currently owned by hedge funds and other institutional investors.
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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