Illumina (NASDAQ:ILMN) Releases FY 2024 Earnings Guidance

Illumina (NASDAQ:ILMN) updated its FY 2024 earnings guidance on Tuesday. 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.

Illumina Price Performance

NASDAQ ILMN traded up $4.78 on Tuesday, hitting $149.00. The company 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 PE ratio of -14.96 and a beta of 1.11. The company’s fifty day moving average price is $140.92 and its 200-day moving average price is $132.88. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.43 and a quick ratio of 1.85. Illumina has a 12-month low of $100.08 and a 12-month high of $156.66.

Illumina (NASDAQ:ILMN) last issued its quarterly earnings results on Monday, November 4th. The life sciences company reported $1.14 EPS for the quarter, topping the consensus estimate of $0.88 by $0.26. The company 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%. The firm’s revenue was down 3.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.33 EPS. As a group, analysts predict that Illumina will post 4.11 earnings per share for the current year.

Analysts Set New Price Targets

ILMN has been the subject of several recent analyst reports. Hsbc Global Res raised shares of Illumina from a “hold” rating to a “strong-buy” rating and set a $180.00 price target for the company in a report on Thursday, October 17th. Piper Sandler dropped their target price on shares of Illumina from $195.00 to $185.00 and set an “overweight” rating for the company in a report on Monday, November 11th. UBS Group upped their target price on shares of Illumina from $133.00 to $145.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. JPMorgan Chase & Co. upped their target price on shares of Illumina from $125.00 to $140.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. Finally, Royal Bank of Canada upped their target price on shares of Illumina from $252.00 to $254.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. Eight research 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 stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target 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.