Illumina (NASDAQ:ILMN) Updates FY 2024 Earnings Guidance

Illumina (NASDAQ:ILMN) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of 4.120-4.140 for the period, compared to the consensus 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.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on ILMN. TD Cowen upped their target price on Illumina from $166.00 to $177.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. JPMorgan Chase & Co. boosted their price target on shares of Illumina from $125.00 to $140.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. Barclays upped their price target on shares of Illumina from $135.00 to $145.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 5th. Piper Sandler lowered their price objective on shares of Illumina from $195.00 to $185.00 and set an “overweight” rating on the stock in a research report on Monday, November 11th. Finally, Citigroup lowered Illumina from a “buy” rating to a “neutral” rating and reduced 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 assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $165.63.

Illumina Price Performance

NASDAQ ILMN opened at $136.48 on Wednesday. The company has a quick ratio of 1.85, a current ratio of 2.43 and a debt-to-equity ratio of 0.94. 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 12-month low of $100.08 and a 12-month high of $156.66. The company has a 50 day moving average price of $140.55 and a two-hundred day moving average price of $133.10.

Illumina (NASDAQ:ILMN) 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 the consensus estimate of $0.88 by $0.26. The business had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.08 billion. Illumina had a negative net margin of 36.10% and a positive return on equity of 7.29%. During the same quarter in the previous year, the business earned $0.33 EPS. Illumina’s quarterly revenue was down 3.5% compared to the same quarter last year. As a group, equities analysts predict that Illumina will post 4.11 earnings per share for the current fiscal 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.