Illumina Updates Q4 2024 Earnings Guidance

Illumina (NASDAQ:ILMN) has revised its earnings guidance for the fourth quarter of 2024, providing important updates for investors and analysts. The company has forecasted an earnings per share (EPS) in the range of 0.910 to 0.930. This projected EPS is slightly lower than the consensus estimate of 0.920, indicating a cautious outlook. In addition to the EPS guidance, Illumina has also shared revenue expectations for the same period, estimating revenues between $1.1 billion and $1.1 billion, aligning with the consensus estimate.

Overall FY 2024 Guidance Update

Furthermore, Illumina has updated its full-year 2024 guidance, now projecting an EPS range between 4.120 and 4.140. This broader perspective reflects the company's overall performance expectations as it moves through the remainder of the fiscal year.

Recent Analyst Ratings Changes

Illumina has been the focus of several research reports recently, which offer a range of opinions on the stock. For instance, JPMorgan Chase & Co. raised their price target for Illumina from $125.00 to $140.00, rating it as "neutral" in a report released on November 5th. Similarly, Robert W. Baird increased their price objective from $124.00 to $139.00, maintaining a "neutral" rating. On the other hand, Royal Bank of Canada increased their target price from $252.00 to $254.00, offering a more positive outlook with an "outperform" rating. In contrast, Piper Sandler lowered their target from $195.00 to $185.00, yet kept an "overweight" rating. Additionally, Canaccord Genuity Group also raised their price target on Illumina from $130.00 to $145.00, giving it a "hold" rating. An analysis suggests that the average rating for Illumina's shares is a "Moderate Buy," with a consensus price target of $165.63.

Recent Stock Performance

On the trading front, Illumina's stock opened at $139.00 recently, reflecting a 3.6% drop. The company's current ratio stands at 2.43, while the quick ratio is 1.85, and it maintains a debt-to-equity ratio of 0.94. As of now, Illumina's market capitalization is approximately $22.05 billion, with a price-to-earnings ratio of -13.96 and a beta of 1.11. The stock's one-year range has shown volatility, with a low of $100.08 and a high of $156.66.

Quarterly Earnings Overview

Illumina last reported its quarterly earnings on November 4th, revealing an EPS of $1.14 for the quarter, surpassing analysts' consensus estimates of $0.88 by a fitting margin. The company's revenue for the quarter was $1.08 billion, meeting expectations closely. Despite the positive EPS results, year-over-year revenue showed a decline of 3.5%. In the previous year during the same period, Illumina had reported an EPS of $0.33. Analysts predict that Illumina is likely to record an EPS of 4.11 for the current fiscal year.

About Illumina

Illumina, Inc specializes in offering solutions for genetic and genomic analysis globally, operating primarily through its Core Illumina and GRAIL segments. The company provides an array of sequencing and array-based instruments, including reagents, flow cells, and library preparation kits. Their product offerings also extend to whole-genome sequencing kits and targeted resequencing kits, catering to various genomic analysis needs.

Illumina, Earnings, Stocks