Illumina (NASDAQ:ILMN) Updates Q4 Earnings Guidance

Illumina (NASDAQ:ILMN) updated its fourth quarter earnings guidance on Tuesday. The company provided EPS guidance of $0.91-$0.93 for the period, compared to the consensus EPS 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.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on ILMN shares. HSBC raised shares of Illumina from a “hold” rating to a “buy” rating and set a $180.00 price objective for the company in a research report on Thursday, October 17th. Barclays increased their price target on Illumina from $135.00 to $145.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 5th. Hsbc Global Res upgraded Illumina from a “hold” rating to a “strong-buy” rating and set a $180.00 target price for the company in a research note on Thursday, October 17th. UBS Group raised their price target on Illumina from $133.00 to $145.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 5th. Finally, Piper Sandler dropped their price objective on shares of Illumina from $195.00 to $185.00 and set an “overweight” rating for the company in a research note on Monday, November 11th. Eight investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Illumina presently has an average rating of “Moderate Buy” and a consensus price target of $165.63.

Illumina Price Performance

Shares of ILMN opened at $136.19 on Thursday. Illumina has a 52-week low of $100.08 and a 52-week high of $156.66. The company has a quick ratio of 1.85, a current ratio of 2.43 and a debt-to-equity ratio of 0.94. The business’s 50 day moving average is $140.55 and its two-hundred day moving average is $133.10.

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