Illumina (NASDAQ:ILMN) Issues 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.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on ILMN shares. UBS Group increased their price objective on Illumina from $133.00 to $145.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. Robert W. Baird upped their price target on Illumina from $124.00 to $139.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 6th. Royal Bank of Canada raised their price objective on Illumina from $252.00 to $254.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. HSBC upgraded shares of Illumina from a “hold” rating to a “buy” rating and set a $180.00 price target for the company in a research note on Thursday, October 17th. Finally, Hsbc Global Res upgraded shares of Illumina from a “hold” rating to a “strong-buy” rating and set a $180.00 price objective on the stock in a report on Thursday, October 17th. Eight research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Illumina currently has a consensus rating of “Moderate Buy” and a consensus price target of $165.63.

Illumina Trading Down 3.6 %

Shares of NASDAQ:ILMN opened at $139.00 on Tuesday. The stock has a 50 day moving average of $140.92 and a 200 day moving average of $132.88. The company has a market cap of $22.05 billion, a PE ratio of -13.96 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 current ratio of 2.43, a quick ratio of 1.85 and a debt-to-equity ratio of 0.94.

Illumina (NASDAQ:ILMN) last released its earnings results on Monday, November 4th. The life sciences company reported $1.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.26. Illumina had a negative net margin of 36.10% and a positive return on equity of 7.29%. The company had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.08 billion. During the same quarter in the previous year, the company earned $0.33 EPS. Illumina’s revenue for the quarter was down 3.5% on a year-over-year basis. As a group, equities research analysts expect that Illumina will post 4.11 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.