Illumina (NASDAQ:ILMN) Releases Q4 2024 Earnings Guidance

Illumina (NASDAQ:ILMN) issued an update on its fourth quarter 2024 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of 0.910-0.930 for the period, compared to the consensus estimate of 0.920. The company issued revenue guidance of $1.1 billion-$1.1 billion, compared to the consensus revenue estimate of $1.1 billion. Illumina also updated its FY 2024 guidance to 4.120-4.140 EPS.

Illumina Trading Up 3.3 %

Shares of NASDAQ ILMN traded up $4.78 during midday trading on Tuesday, hitting $149.00. The stock had a trading volume of 370,250 shares, compared to its average volume of 1,471,118. The company has a market capitalization of $23.63 billion, a price-to-earnings ratio of -14.96 and a beta of 1.11. Illumina has a 1-year low of $100.08 and a 1-year high of $156.66. 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 company has a fifty day moving average price of $140.92 and a 200 day moving average price of $132.88.

Illumina (NASDAQ:ILMN) last released its quarterly earnings data on Monday, November 4th. The life sciences company reported $1.14 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.26. The business had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.08 billion. Illumina had a positive return on equity of 7.29% and a negative net margin of 36.10%. The company’s revenue was down 3.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.33 EPS. On average, analysts predict that Illumina will post 4.11 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on ILMN shares. Morgan Stanley reduced their price target on Illumina from $156.00 to $150.00 and set an “equal weight” rating on the stock in a research report on Monday. Barclays boosted their price target on Illumina from $135.00 to $145.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 5th. UBS Group boosted their price target on Illumina from $133.00 to $145.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 5th. Canaccord Genuity Group boosted their price target on Illumina from $130.00 to $145.00 and gave the stock a “hold” rating in a research report on Tuesday, November 5th. Finally, Royal Bank of Canada lifted their price objective on Illumina from $252.00 to $254.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. Eight equities research 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. According to data from MarketBeat, Illumina currently has a consensus rating of “Moderate Buy” and an average target price of $165.63.

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.