Wall Street brokerages expect II-VI, Inc. (NASDAQ:IIVI) to post earnings per share of $0.56 for the current quarter, according to Zacks Investment Research. Five analysts have issued estimates for II-VI’s earnings, with estimates ranging from $0.54 to $0.57. II-VI reported earnings of $0.32 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 75%. The company is scheduled to announce its next quarterly earnings report on Tuesday, October 30th.

According to Zacks, analysts expect that II-VI will report full-year earnings of $2.49 per share for the current fiscal year, with EPS estimates ranging from $2.31 to $2.80. For the next year, analysts forecast that the business will report earnings of $2.88 per share, with EPS estimates ranging from $2.43 to $3.07. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for II-VI.

II-VI (NASDAQ:IIVI) last issued its quarterly earnings results on Tuesday, August 7th. The scientific and technical instruments company reported $0.52 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.39 by $0.13. II-VI had a net margin of 7.59% and a return on equity of 10.09%. The company had revenue of $321.10 million during the quarter, compared to the consensus estimate of $301.45 million. During the same quarter in the prior year, the firm posted $0.50 EPS. The firm’s quarterly revenue was up 17.3% on a year-over-year basis.

A number of brokerages have recently weighed in on IIVI. ValuEngine raised shares of II-VI from a “hold” rating to a “buy” rating in a report on Wednesday, August 8th. B. Riley upped their price target on shares of II-VI from $49.00 to $54.00 and gave the stock a “buy” rating in a report on Wednesday, August 8th. Needham & Company LLC upped their price target on shares of II-VI from $50.00 to $53.00 and gave the stock a “buy” rating in a report on Wednesday, August 8th. Cowen reaffirmed a “buy” rating and set a $64.00 price target on shares of II-VI in a report on Wednesday, August 8th. Finally, Zacks Investment Research downgraded shares of II-VI from a “strong-buy” rating to a “hold” rating in a report on Friday, August 3rd. Five investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. II-VI presently has a consensus rating of “Buy” and an average price target of $53.69.

In related news, VP David G. Wagner sold 33,076 shares of the company’s stock in a transaction that occurred on Tuesday, September 4th. The shares were sold at an average price of $48.01, for a total transaction of $1,587,978.76. Following the completion of the transaction, the vice president now directly owns 71,578 shares in the company, valued at approximately $3,436,459.78. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Francis J. Kramer sold 910 shares of the company’s stock in a transaction that occurred on Wednesday, August 29th. The stock was sold at an average price of $50.00, for a total transaction of $45,500.00. Following the transaction, the director now owns 225,790 shares of the company’s stock, valued at $11,289,500. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 92,041 shares of company stock valued at $4,193,219. 3.80% of the stock is owned by corporate insiders.

Hedge funds have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. increased its position in II-VI by 6.6% during the 1st quarter. Russell Investments Group Ltd. now owns 19,129 shares of the scientific and technical instruments company’s stock worth $782,000 after purchasing an additional 1,185 shares in the last quarter. Fort Pitt Capital Group LLC increased its position in II-VI by 1.7% in the 2nd quarter. Fort Pitt Capital Group LLC now owns 1,015,990 shares of the scientific and technical instruments company’s stock valued at $44,145,000 after acquiring an additional 17,125 shares during the period. Amalgamated Bank increased its position in II-VI by 17.2% in the 2nd quarter. Amalgamated Bank now owns 9,995 shares of the scientific and technical instruments company’s stock valued at $434,000 after acquiring an additional 1,470 shares during the period. Rice Hall James & Associates LLC acquired a new position in II-VI in the 2nd quarter valued at approximately $9,705,000. Finally, Bank of New York Mellon Corp increased its position in II-VI by 0.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,451,393 shares of the scientific and technical instruments company’s stock valued at $63,063,000 after acquiring an additional 13,409 shares during the period. Institutional investors and hedge funds own 94.52% of the company’s stock.

Shares of II-VI stock opened at $47.00 on Friday. II-VI has a 1-year low of $36.20 and a 1-year high of $53.08. The company has a quick ratio of 2.17, a current ratio of 3.22 and a debt-to-equity ratio of 0.41. The company has a market cap of $3.00 billion, a PE ratio of 27.33, a PEG ratio of 1.52 and a beta of 0.20.

II-VI Company Profile

II-VI Incorporated develops, manufactures, and markets engineered materials, and optoelectronic components and devices worldwide. The company operates in three segments: II-VI Laser Solutions, II-VI Photonics, and II-VI Performance Products. The II-VI Laser Solutions segment offers optical and electro-optical components and materials primarily used in high-power CO2 lasers; fiber-delivered beam delivery systems, and processing tools and direct diode lasers for industrial lasers; direct diode laser modules, sub-systems, and systems; super-hard materials processing laser systems; and compound semiconductor epitaxial and gallium arsenide wafers.

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

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