Illumina (NASDAQ:ILMN) Releases FY 2024 Earnings Guidance

by · The Cerbat Gem

Illumina (NASDAQ:ILMN – Get Free Report) issued an update on its FY 2024 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of 4.050-4.150 for the period, compared to the consensus estimate of 3.820. The company issued revenue guidance of $4.3 billion-$4.3 billion, compared to the consensus revenue estimate of $4.4 billion. Illumina also updated its FY24 guidance to $4.05 to $4.15 EPS.

Illumina Stock Performance

Illumina stock traded down $4.86 during mid-day trading on Wednesday, hitting $150.10. 1,632,194 shares of the company’s stock traded hands, compared to its average volume of 2,001,705. The firm has a 50 day simple moving average of $136.87 and a two-hundred day simple moving average of $122.92. Illumina has a fifty-two week low of $89.00 and a fifty-two week high of $156.66. The stock has a market cap of $23.91 billion, a price-to-earnings ratio of -15.56 and a beta of 1.13. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.11 and a quick ratio of 0.86.

Illumina (NASDAQ:ILMN – Get Free Report) last posted its earnings results on Monday, November 4th. The life sciences company reported $1.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.26. Illumina had a positive return on equity of 3.08% and a negative net margin of 68.73%. The company had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter last year, the firm earned $0.33 earnings per share. The company’s revenue was down 3.5% on a year-over-year basis. On average, research analysts expect that Illumina will post 3.62 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on ILMN shares. Scotiabank dropped their target price on Illumina from $176.00 to $164.00 and set a “sector outperform” rating for the company in a report on Thursday, August 15th. Stephens restated an “overweight” rating and issued a $170.00 price target on shares of Illumina in a research report on Wednesday, July 10th. HSBC upgraded Illumina from a “hold” rating to a “buy” rating and set a $180.00 price target on the stock in a research report on Thursday, October 17th. Citigroup lifted their target price on Illumina from $155.00 to $190.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, Hsbc Global Res raised Illumina from a “hold” rating to a “strong-buy” rating and set a $180.00 price objective on the stock in a research note on Thursday, October 17th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $162.18.

Check Out Our Latest Stock Report on ILMN

Illumina Company Profile

(Get Free Report)

Illumina, Inc offers sequencing- and array-based solutions for genetic and genomic analysis in the United States, Singapore, the United Kingdom, and internationally. It operates through Core Illumina and GRAIL segments. The company offers sequencing and array-based instruments and consumables, which include reagents, flow cells, and library preparation; whole-genome sequencing kits, which sequence entire genomes of various size and complexity; and targeted resequencing kits, which sequence exomes, specific genes, and RNA or other genomic regions of interest.

Read More