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II-VI (IIVI) closed the most recent trading day at $77.85, moving -0.03% from the previous trading session. This move lagged the S&P 500's daily gain of 0.18%.
Prior to today's trading, shares of the Laser and optics manufacturer had gained 16.68% over the past month. This has outpaced the Industrial Products sector's gain of 5.15% and the S&P 500's gain of 6.99% in that time.
Investors will be hoping for strength from IIVI as it approaches its next earnings release. The company is expected to report EPS of $0.88, up 87.23% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $772.35 million, up 23.17% from the year-ago period.
IIVI's full-year Zacks Consensus Estimates are calling for earnings of $3.68 per share and revenue of $3.08 billion. These results would represent year-over-year changes of +29.12% and +29.36%, respectively.
Any recent changes to analyst estimates for IIVI should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 1.15% lower within the past month. IIVI is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that IIVI has a Forward P/E ratio of 21.18 right now. Its industry sports an average Forward P/E of 25.85, so we one might conclude that IIVI is trading at a discount comparatively.
We can also see that IIVI currently has a PEG ratio of 1.06. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Manufacturing - Electronics industry currently had an average PEG ratio of 2.14 as of yesterday's close.
The Manufacturing - Electronics industry is part of the Industrial Products sector. This industry currently has a Zacks Industry Rank of 109, which puts it in the top 43% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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IIVI Incorporated (IIVI) : Free Stock Analysis Report
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