Illumina (NASDAQ:ILMN) Issues Q4 2024 Earnings Guidance

Illumina (NASDAQ:ILMN - Get Free Report) 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 Price Performance

ILMN stock traded down $7.74 during midday trading on Tuesday, reaching $136.48. 2,938,683 shares of the stock were exchanged, compared to its average volume of 1,793,472. The stock has a market capitalization of $21.65 billion, a PE ratio of -13.70 and a beta of 1.11. Illumina has a 52 week low of $100.08 and a 52 week high of $156.66. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.43 and a quick ratio of 1.85. The company has a fifty day moving average price of $140.55 and a 200 day moving average price of $133.10.

Illumina (NASDAQ:ILMN - Get Free Report) last issued its quarterly earnings data 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. The business had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.08 billion. Illumina had a positive return on equity of 7.29% and a negative net margin of 36.10%. Illumina's quarterly revenue was down 3.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.33 EPS. As a group, analysts expect that Illumina will post 4.11 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have commented on ILMN shares. Barclays lifted their target price on Illumina from $135.00 to $145.00 and gave the stock an "equal weight" rating in a report on Tuesday, November 5th. Piper Sandler cut their target price on Illumina from $195.00 to $185.00 and set an "overweight" rating on the stock in a report on Monday, November 11th. Morgan Stanley dropped their price objective on Illumina from $156.00 to $150.00 and set an "equal weight" rating on the stock in a research note on Monday. Citigroup downgraded Illumina from a "buy" rating to a "neutral" rating and dropped their price objective for the company from $190.00 to $165.00 in a research note on Wednesday, December 11th. Finally, TD Cowen boosted their price objective on Illumina from $166.00 to $177.00 and gave the company a "buy" rating in a research note on Tuesday, November 5th. Eight investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Illumina has a consensus rating of "Moderate Buy" and an average price target 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.