Illumina (NASDAQ:ILMN) Issues Q4 Earnings Guidance

Illumina (NASDAQ:ILMN - Get Free Report) issued an update on its fourth quarter earnings guidance on Tuesday morning. The company provided earnings per share guidance of $0.91-$0.93 for the period, compared to the consensus earnings per share estimate of $0.92. The company issued revenue guidance of $1.10 billion, compared to the consensus revenue estimate of $1.07 billion. Illumina also updated its FY 2024 guidance to 4.120-4.140 EPS.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Barclays upped their price objective on Illumina from $135.00 to $145.00 and gave the stock an "equal weight" rating in a research report on Tuesday, November 5th. Leerink Partners lifted their price target on shares of Illumina from $160.00 to $200.00 and gave the stock an "outperform" rating in a research note on Thursday, October 17th. Royal Bank of Canada increased their price objective on shares of Illumina from $252.00 to $254.00 and gave the company an "outperform" rating in a research report on Tuesday, November 5th. Piper Sandler decreased their price objective on shares of Illumina from $195.00 to $185.00 and set an "overweight" rating for the company in a research report on Monday, November 11th. Finally, Citigroup lowered Illumina from a "buy" rating to a "neutral" rating and dropped their target price for the company from $190.00 to $165.00 in a report on Wednesday, December 11th. Eight 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 company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $165.63.

Illumina Stock Performance

Illumina stock traded down $7.74 during midday trading on Tuesday, hitting $136.48. 2,938,683 shares of the company's stock were exchanged, compared to its average volume of 1,793,472. 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 stock has a market cap of $21.65 billion, a price-to-earnings ratio of -13.70 and a beta of 1.11. Illumina has a 12-month low of $100.08 and a 12-month high of $156.66. The firm's 50 day simple moving average is $140.55 and its 200 day simple moving average is $133.10.

Illumina (NASDAQ:ILMN - Get Free Report) last issued its quarterly earnings results on Monday, November 4th. The life sciences company reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $1.08 billion for the quarter, compared to analysts' expectations of $1.08 billion. During the same quarter in the previous year, the firm posted $0.33 EPS. The firm's revenue for the quarter was down 3.5% on a year-over-year basis. Equities research analysts predict that Illumina will post 4.11 EPS for the current year.

About Illumina

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.