Illumina (NASDAQ:ILMN) Releases FY 2024 Earnings Guidance

by · The Markets Daily

Illumina (NASDAQ:ILMN – Get Free Report) issued an update on its FY 2024 earnings guidance on Monday morning. The company provided EPS guidance of 4.050-4.150 for the period, compared to the consensus EPS 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 Trading Up 2.5 %

ILMN stock traded up $3.73 during trading on Monday, hitting $153.49. The company had a trading volume of 4,100,941 shares, compared to its average volume of 1,996,650. The stock has a market cap of $24.45 billion, a price-to-earnings ratio of -8.02 and a beta of 1.13. The company has a quick ratio of 0.86, a current ratio of 1.11 and a debt-to-equity ratio of 1.04. The firm has a 50-day moving average price of $136.39 and a 200-day moving average price of $122.65. Illumina has a 12 month low of $89.00 and a 12 month high of $155.37.

Illumina (NASDAQ:ILMN – Get Free Report) last posted its quarterly earnings results on Tuesday, August 6th. The life sciences company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.24. The business had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.09 billion. Illumina had a positive return on equity of 3.08% and a negative net margin of 68.73%. The firm’s quarterly revenue was down 5.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.32 earnings per share. As a group, analysts predict that Illumina will post 3.63 earnings per share for the current year.

Analyst Ratings Changes

ILMN has been the subject of several recent research reports. Royal Bank of Canada reiterated an “outperform” rating and set a $252.00 target price on shares of Illumina in a research report on Thursday, October 10th. UBS Group increased their target price on Illumina from $131.00 to $133.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Daiwa Capital Markets upgraded Illumina from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $120.00 to $154.00 in a research report on Friday, August 16th. Scotiabank reduced their price objective on shares of Illumina from $176.00 to $164.00 and set a “sector outperform” rating on the stock in a research note on Thursday, August 15th. Finally, Piper Sandler lowered their target price on shares of Illumina from $200.00 to $195.00 and set an “overweight” rating for the company in a research note on Tuesday, August 13th. One investment 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 company. Based on data from MarketBeat, Illumina currently has an average rating of “Moderate Buy” and a consensus price target of $155.50.

Check Out Our Latest Stock Analysis on ILMN

Illumina Company Profile

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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.

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