Illumina (NASDAQ:ILMN) Updates FY 2024 Earnings Guidance

Illumina (NASDAQ:ILMN) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share guidance of 4.120-4.140 for the period, compared to the consensus earnings per share estimate of 4.120. The company issued revenue guidance of $4.3 billion-$4.3 billion, compared to the consensus revenue estimate of $4.3 billion. Illumina also updated its FY 2025 guidance to EPS.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on ILMN shares. Stephens lifted their price objective on Illumina from $170.00 to $184.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 12th. Robert W. Baird upped their price target on Illumina from $124.00 to $139.00 and gave the stock a “neutral” rating in a report on Wednesday, November 6th. Royal Bank of Canada raised their price objective on shares of Illumina from $252.00 to $254.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 5th. Barclays upped their target price on shares of Illumina from $135.00 to $145.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 5th. Finally, Morgan Stanley cut their price objective on shares of Illumina from $156.00 to $150.00 and set an “equal weight” rating for the company in a research report on Monday. Eight research 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’s stock. According to data from MarketBeat, Illumina has a consensus rating of “Moderate Buy” and a consensus target price of $165.63.

Illumina Price Performance

Illumina stock opened at $136.48 on Wednesday. Illumina has a 52 week low of $100.08 and a 52 week high of $156.66. The firm has a market cap of $21.65 billion, a P/E ratio of -13.70 and a beta of 1.11. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.85 and a current ratio of 2.43. The business’s fifty day moving average is $140.55 and its two-hundred day moving average is $133.10.

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

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.