Illumina (NASDAQ:ILMN) Releases 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.

Illumina Stock Up 1.9 %

ILMN traded up $2.84 during trading on Thursday, hitting $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 1-year low of $89.00 and a 1-year high of $156.66. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.11 and a quick ratio of 0.86. The company has a market cap of $24.64 billion, a PE ratio of -15.24 and a beta of 1.13. The business has a 50-day moving average of $137.27 and a 200-day moving average of $123.12.

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 business had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.08 billion. Illumina had a negative net margin of 36.10% and a positive return on equity of 6.36%. The company’s quarterly revenue was down 3.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.33 earnings per share. As a group, analysts forecast that Illumina will post 3.62 earnings per share for the current year.

Analysts Set New Price Targets

ILMN has been the topic of a number of research reports. Canaccord Genuity Group increased their target price on shares of Illumina from $130.00 to $145.00 and gave the stock a “hold” rating in a report on Tuesday. StockNews.com started coverage on shares of Illumina in a report on Thursday, August 29th. They issued a “buy” rating on the stock. Scotiabank lowered their target price on Illumina from $176.00 to $164.00 and set a “sector outperform” rating for the company in a report on Thursday, August 15th. Royal Bank of Canada increased their price target on Illumina from $252.00 to $254.00 and gave the stock an “outperform” rating in a research report on Tuesday. Finally, Stephens restated an “overweight” rating and set a $170.00 price objective on shares of Illumina in a research report on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Illumina has an average rating of “Moderate Buy” and a consensus price target of $162.18.

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.