Illumina (NASDAQ:ILMN) Releases FY24 Earnings Guidance

Illumina (NASDAQ:ILMN) updated its FY24 earnings guidance on Monday. The company provided earnings per share (EPS) guidance of $4.05 to $4.15 for the period, compared to the consensus estimate of $3.90. The company issued revenue guidance of -3% yr/yr or $4.369 billion, compared to the consensus revenue estimate of $4.35 billion. Illumina also updated its FY 2024 guidance to 4.050-4.150 EPS.

Analyst Ratings Changes

ILMN has been the topic of a number of research analyst reports. Scotiabank decreased their price objective on shares of Illumina from $176.00 to $164.00 and set a “sector outperform” rating on the stock in a report on Thursday, August 15th. Daiwa America raised Illumina to a “strong-buy” rating in a report on Friday, August 16th. Daiwa Capital Markets upgraded Illumina from a “neutral” rating to a “buy” rating and raised their price target for the company from $120.00 to $154.00 in a report on Friday, August 16th. Piper Sandler reduced their target price on shares of Illumina from $200.00 to $195.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 13th. Finally, Canaccord Genuity Group increased their price objective on shares of Illumina from $130.00 to $145.00 and gave the company a “hold” rating in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $162.18.

Illumina Trading Up 2.0 %

ILMN stock traded up $2.98 during mid-day trading on Thursday, reaching $154.81. The company’s stock had a trading volume of 844,389 shares, compared to its average volume of 2,002,162. The company has a market cap of $24.66 billion, a price-to-earnings ratio of -15.24 and a beta of 1.13. The business’s 50 day moving average price is $137.27 and its 200 day moving average price is $123.12. The company has a current ratio of 1.11, a quick ratio of 0.86 and a debt-to-equity ratio of 1.04. Illumina has a 12 month low of $89.00 and a 12 month high of $156.66.

Illumina (NASDAQ:ILMN) last issued its quarterly earnings data on Monday, November 4th. The life sciences company reported $1.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.26. The business had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.08 billion. Illumina had a negative net margin of 36.10% and a positive return on equity of 6.36%. The firm’s quarterly revenue was down 3.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.33 EPS. On average, equities research analysts predict that Illumina will post 3.62 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.