Illumina (NASDAQ:ILMN) Updates FY 2024 Earnings Guidance

Illumina (NASDAQ:ILMN - Get Free Report) 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.

Illumina Stock Performance

Shares of ILMN traded down $7.74 during mid-day trading on Tuesday, reaching $136.48. The company's stock had a trading volume of 2,938,683 shares, compared to its average volume of 1,793,472. Illumina has a 1-year low of $100.08 and a 1-year high of $156.66. The stock has a market cap of $21.65 billion, a P/E ratio of -13.70 and a beta of 1.11. The business has a 50-day simple moving average of $140.55 and a two-hundred day simple moving average of $133.10. The company has a current ratio of 2.43, a quick ratio of 1.85 and a debt-to-equity ratio of 0.94.

Illumina (NASDAQ:ILMN - Get Free Report) last released its quarterly earnings data on Monday, November 4th. The life sciences company reported $1.14 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.88 by $0.26. The company had revenue of $1.08 billion during the quarter, compared to analysts' expectations of $1.08 billion. Illumina had a positive return on equity of 7.29% and a negative net margin of 36.10%. The business's revenue was down 3.5% on a year-over-year basis. During the same period last year, the firm posted $0.33 earnings per share. As a group, equities research analysts anticipate that Illumina will post 4.11 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts recently weighed in on ILMN shares. Piper Sandler dropped their price target on Illumina from $195.00 to $185.00 and set an "overweight" rating for the company in a report on Monday, November 11th. Canaccord Genuity Group lifted their price target on Illumina from $130.00 to $145.00 and gave the stock a "hold" rating in a report on Tuesday, November 5th. TD Cowen lifted their price target on Illumina from $166.00 to $177.00 and gave the stock a "buy" rating in a report on Tuesday, November 5th. Barclays lifted their price target on Illumina from $135.00 to $145.00 and gave the stock an "equal weight" rating in a report on Tuesday, November 5th. Finally, Leerink Partners lifted 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. Eight research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average 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.