II-VI (NASDAQ:IIVI) updated its first quarter earnings guidance on Tuesday. The company provided EPS guidance of $0.55-0.65 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.65. The company issued revenue guidance of $320-345 million, compared to the consensus revenue estimate of $348.16 million.II-VI also updated its Q1 2020 guidance to $0.55-0.65 EPS.
IIVI stock opened at $36.97 on Thursday. The firm has a market cap of $2.42 billion, a P/E ratio of 22.68, a price-to-earnings-growth ratio of 1.13 and a beta of 1.09. The company has a current ratio of 3.41, a quick ratio of 2.15 and a debt-to-equity ratio of 0.44. The business’s fifty day moving average price is $37.69. II-VI has a 52 week low of $29.31 and a 52 week high of $50.75.
II-VI (NASDAQ:IIVI) last announced its earnings results on Tuesday, August 13th. The scientific and technical instruments company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.29. II-VI had a return on equity of 10.77% and a net margin of 8.07%. The company had revenue of $362.70 million during the quarter, compared to the consensus estimate of $348.02 million. During the same period last year, the firm earned $0.52 earnings per share. The company’s revenue was up 13.0% on a year-over-year basis. As a group, equities analysts forecast that II-VI will post 1.98 earnings per share for the current year.
Several research firms have issued reports on IIVI. JPMorgan Chase & Co. started coverage on shares of II-VI in a research report on Monday, July 29th. They issued an overweight rating and a $50.00 price target on the stock. BidaskClub raised shares of II-VI from a hold rating to a buy rating in a research note on Friday, July 26th. ValuEngine upgraded shares of II-VI from a sell rating to a hold rating in a report on Tuesday, June 18th. Benchmark restated a buy rating and set a $53.00 price objective on shares of II-VI in a report on Wednesday. Finally, Zacks Investment Research downgraded shares of II-VI from a hold rating to a strong sell rating in a report on Friday, August 2nd. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and ten have assigned a buy rating to the company. The company currently has a consensus rating of Buy and a consensus price target of $45.42.
In other II-VI news, Director Joseph J. Corasanti acquired 3,200 shares of the company’s stock in a transaction on Thursday, May 30th. The shares were acquired at an average cost of $32.34 per share, with a total value of $103,488.00. Following the completion of the acquisition, the director now directly owns 54,834 shares in the company, valued at $1,773,331.56. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Shaker Sadasivam acquired 14,250 shares of the company’s stock in a transaction on Tuesday, May 21st. The shares were acquired at an average cost of $34.63 per share, for a total transaction of $493,477.50. Following the completion of the acquisition, the director now owns 21,834 shares of the company’s stock, valued at $756,111.42. The disclosure for this purchase can be found here. Insiders own 4.00% of the company’s stock.
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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