Illumina (NASDAQ:ILMN) Issues FY 2024 Earnings Guidance

Illumina (NASDAQ:ILMN) updated its FY 2024 earnings guidance on Monday. The company provided EPS guidance of 4.050-4.150 for the period, compared to the consensus EPS 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 Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Daiwa America raised shares of Illumina to a “strong-buy” rating in a research note on Friday, August 16th. Canaccord Genuity Group upped their price target on Illumina from $130.00 to $145.00 and gave the company a “hold” rating in a research note on Tuesday. Argus raised shares of Illumina from a “hold” rating to a “buy” rating and set a $150.00 target price for the company in a research note on Wednesday, August 28th. Leerink Partners boosted their price target on shares of Illumina from $160.00 to $200.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Finally, Citigroup increased their price objective on shares of Illumina from $155.00 to $190.00 and gave the stock a “buy” rating in a research report on Tuesday. One analyst has rated the stock with a sell rating, eight have given a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $162.18.

Illumina Trading Up 1.9 %

Illumina stock traded up $2.84 during trading on Thursday, reaching $154.67. The company had a trading volume of 1,088,037 shares, compared to its average volume of 2,003,159. Illumina has a 12-month low of $89.00 and a 12-month high of $156.66. 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 $137.27 and its two-hundred day moving average price is $123.12. The firm has a market capitalization of $24.64 billion, a price-to-earnings ratio of -15.24 and a beta of 1.13.

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