Illumina (NASDAQ:ILMN) Updates Q4 Earnings Guidance

Illumina (NASDAQ:ILMN) issued an update on its fourth quarter earnings guidance on Tuesday morning. The company provided earnings per share guidance of $0.91-$0.93 for the period, compared to the consensus earnings per share estimate of $0.92. The company issued revenue guidance of $1.10 billion, compared to the consensus revenue estimate of $1.07 billion. Illumina also updated its FY 2024 guidance to 4.120-4.140 EPS.

Illumina Stock Performance

Shares of ILMN stock opened at $136.48 on Wednesday. The company has a current ratio of 2.43, a quick ratio of 1.85 and a debt-to-equity ratio of 0.94. The company has a market cap of $21.65 billion, a PE ratio of -13.70 and a beta of 1.11. The company’s fifty day simple moving average is $140.55 and its 200-day simple moving average is $133.10. Illumina has a 52 week low of $100.08 and a 52 week high of $156.66.

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

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. TD Cowen increased their price objective on shares of Illumina from $166.00 to $177.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Robert W. Baird raised their price target on shares of Illumina from $124.00 to $139.00 and gave the company a “neutral” rating in a report on Wednesday, November 6th. Canaccord Genuity Group boosted their price objective on shares of Illumina from $130.00 to $145.00 and gave the stock a “hold” rating in a report on Tuesday, November 5th. Barclays raised their target price on Illumina from $135.00 to $145.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 5th. Finally, Morgan Stanley cut their price target on Illumina from $156.00 to $150.00 and set an “equal weight” rating on the stock in a research note on Monday. Eight equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Illumina presently has a consensus 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.