Illumina (NASDAQ:ILMN) Updates FY 2024 Earnings Guidance

Illumina (NASDAQ:ILMN) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided EPS guidance of 4.120-4.140 for the period, compared to the consensus EPS 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.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Canaccord Genuity Group increased their price objective on shares of Illumina from $130.00 to $145.00 and gave the company a “hold” rating in a research report on Tuesday, November 5th. Hsbc Global Res upgraded Illumina from a “hold” rating to a “strong-buy” rating and set a $180.00 price objective on the stock in a research report on Thursday, October 17th. Citigroup downgraded Illumina from a “buy” rating to a “neutral” rating and cut their target price for the company from $190.00 to $165.00 in a research report on Wednesday, December 11th. JPMorgan Chase & Co. boosted their price objective on shares of Illumina from $125.00 to $140.00 and gave the company a “neutral” rating in a research report on Tuesday, November 5th. Finally, UBS Group increased their price objective on shares of Illumina from $133.00 to $145.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 5th. Eight 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, the company has a consensus rating of “Moderate Buy” and a consensus price target of $165.63.

Illumina Stock Down 3.6 %

NASDAQ:ILMN opened at $139.00 on Tuesday. The stock has a market capitalization of $22.05 billion, a P/E ratio of -13.96 and a beta of 1.11. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.85 and a current ratio of 2.43. The company’s 50-day simple moving average is $140.92 and its 200-day simple moving average is $132.88. Illumina has a fifty-two week low of $100.08 and a fifty-two week high of $156.66.

Illumina (NASDAQ:ILMN) last announced its quarterly earnings data on Monday, November 4th. The life sciences company reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.26. The firm had revenue of $1.08 billion during the quarter, compared to analysts’ expectations 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 for the quarter was down 3.5% compared to the same quarter last year. During the same period last year, the business posted $0.33 earnings per share. On average, equities analysts anticipate that Illumina will post 4.11 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.