Illumina (NASDAQ:ILMN) Issues FY24 Earnings Guidance

Illumina (NASDAQ:ILMN) issued an update on its FY24 earnings guidance on Monday morning. The company provided EPS guidance of $4.05 to $4.15 for the period, compared to the consensus EPS estimate of $3.90. The company issued revenue guidance of -3% yr/yr or $4.369 billion, compared to the consensus revenue estimate of $4.35 billion. Illumina also updated its FY 2024 guidance to 4.050-4.150 EPS.

Illumina Stock Down 2.7 %

Shares of Illumina stock traded down $4.12 during trading on Wednesday, hitting $150.84. The company’s stock had a trading volume of 1,335,335 shares, compared to its average volume of 2,000,575. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.86 and a current ratio of 1.11. The company has a fifty day simple moving average of $136.87 and a two-hundred day simple moving average of $122.92. The company has a market capitalization of $24.03 billion, a PE ratio of -15.56 and a beta of 1.13. Illumina has a 52 week low of $89.00 and a 52 week high of $156.66.

Illumina (NASDAQ:ILMN) last issued its quarterly earnings results 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 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 68.73% and a positive return on equity of 3.08%. Illumina’s quarterly revenue was down 3.5% compared to the same quarter last year. During the same period last year, the business earned $0.33 EPS. Equities research analysts predict that Illumina will post 3.62 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on ILMN shares. Barclays increased their price target on shares of Illumina from $135.00 to $145.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Argus upgraded shares of Illumina from a “hold” rating to a “buy” rating and set a $150.00 price objective for the company in a research note on Wednesday, August 28th. StockNews.com assumed coverage on shares of Illumina in a research note on Thursday, August 29th. They set a “buy” rating for the company. Robert W. Baird raised their price objective on shares of Illumina from $124.00 to $139.00 and gave the company a “neutral” rating in a research note on Wednesday. Finally, Stephens restated an “overweight” rating and set a $170.00 price objective on shares of Illumina in a research note on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company presently 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.