Illumina (NASDAQ:ILMN) Issues Q4 2024 Earnings Guidance

Illumina (NASDAQ:ILMN) issued an update on its fourth quarter 2024 earnings guidance on Tuesday morning. The company provided earnings per share guidance of 0.910-0.930 for the period, compared to the consensus earnings per share estimate of 0.920. The company issued revenue guidance of $1.1 billion-$1.1 billion, compared to the consensus revenue estimate of $1.1 billion. Illumina also updated its FY 2024 guidance to 4.120-4.140 EPS.

Illumina Stock Performance

ILMN stock traded up $4.78 during trading on Tuesday, reaching $149.00. 370,250 shares of the company’s stock were exchanged, compared to its average volume of 1,471,118. The company has a quick ratio of 1.85, a current ratio of 2.43 and a debt-to-equity ratio of 0.94. Illumina has a 1-year low of $100.08 and a 1-year high of $156.66. The company’s fifty day moving average price is $140.92 and its 200-day moving average price is $132.88. The firm has a market cap of $23.63 billion, a PE ratio of -14.96 and a beta of 1.11.

Illumina (NASDAQ:ILMN) last announced its quarterly earnings results on Monday, November 4th. The life sciences company reported $1.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.26. Illumina had a positive return on equity of 7.29% and a negative net margin of 36.10%. The company had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.08 billion. During the same quarter in the previous year, the firm posted $0.33 EPS. The firm’s quarterly revenue was down 3.5% on a year-over-year basis. On average, research analysts expect that Illumina will post 4.11 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

ILMN has been the subject of several research analyst reports. Citigroup lowered Illumina from a “buy” rating to a “neutral” rating and cut their price objective for the company from $190.00 to $165.00 in a report on Wednesday, December 11th. Piper Sandler cut their price objective on Illumina from $195.00 to $185.00 and set an “overweight” rating for the company in a report on Monday, November 11th. JPMorgan Chase & Co. upped their price objective on Illumina from $125.00 to $140.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. Leerink Partners upped their price objective on Illumina from $160.00 to $200.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Finally, HSBC raised Illumina from a “hold” rating to a “buy” rating and set a $180.00 target price for the company in a report on Thursday, October 17th. Eight analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Illumina currently has an average rating of “Moderate Buy” and a consensus target price of $165.63.

Illumina Company Profile

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.