Illumina (NASDAQ:ILMN) Updates FY 2024 Earnings Guidance

Illumina (NASDAQ:ILMN) updated its FY 2024 earnings guidance on Monday. The company provided earnings per share guidance of 4.050-4.150 for the period, compared to the consensus earnings per share estimate of 3.820. The company issued revenue guidance of $4.3 billion-$4.3 billion, compared to the consensus revenue estimate of $4.4 billion. Illumina also updated its FY24 guidance to $4.05 to $4.15 EPS.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on ILMN shares. HSBC upgraded Illumina from a “hold” rating to a “buy” rating and set a $180.00 price target on the stock in a report on Thursday, October 17th. Argus raised Illumina from a “hold” rating to a “buy” rating and set a $150.00 price target for the company in a research note on Wednesday, August 28th. StockNews.com began coverage on shares of Illumina in a research report on Thursday, August 29th. They issued a “buy” rating on the stock. Citigroup raised their target price on shares of Illumina from $140.00 to $155.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. Finally, Robert W. Baird upped their price target on shares of Illumina from $119.00 to $124.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $155.50.

Illumina Trading Up 2.5 %

Illumina stock traded up $3.73 during trading on Monday, reaching $153.49. The company had a trading volume of 4,158,787 shares, compared to its average volume of 1,996,650. Illumina has a 12-month low of $89.00 and a 12-month high of $155.37. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.86 and a current ratio of 1.11. The stock’s 50 day moving average price is $135.93 and its two-hundred day moving average price is $122.39. The firm has a market capitalization of $24.45 billion, a price-to-earnings ratio of -7.82 and a beta of 1.13.

Illumina (NASDAQ:ILMN) last announced its quarterly earnings data on Tuesday, August 6th. The life sciences company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.24. The company had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.09 billion. Illumina had a negative net margin of 68.73% and a positive return on equity of 3.08%. The business’s quarterly revenue was down 5.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.32 EPS. As a group, equities analysts expect that Illumina will post 3.63 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.