The upcoming report from Illumina (ILMN) is expected to reveal quarterly earnings of $1.26 per share, indicating an increase of 46.5% compared to the year-ago period. Analysts forecast revenues of $1.16 billion, representing an increase of 4.6% year over year.
The consensus EPS estimate for the quarter has been revised 2.1% higher over the last 30 days to the current level. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this timeframe.
Ahead of a company's earnings disclosure, it is crucial to give due consideration to changes in earnings estimates. These revisions serve as a noteworthy factor in predicting potential investor reactions to the stock. Numerous empirical studies consistently demonstrate a strong relationship between trends in earnings estimate revision and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as a yardstick to evaluate the company's quarterly performance, scrutinizing analysts' projections for some of the company's key metrics can offer a more comprehensive perspective.
Bearing this in mind, let's now explore the average estimates of specific Illumina metrics that are commonly monitored and projected by Wall Street analysts.
Analysts predict that the 'Revenue- Product revenue- Consumable' will reach $808.85 million. The estimate suggests a change of +3.8% year over year.
Analysts expect 'Revenue- Service and other revenue' to come in at $168.60 million. The estimate points to a change of +2.2% from the year-ago quarter.
The collective assessment of analysts points to an estimated 'Revenue- Product revenue' of $946.06 million. The estimate indicates a year-over-year change of +0.8%.
It is projected by analysts that the 'Revenue- Product revenue- Instruments' will reach $150.15 million. The estimate indicates a change of -5.6% from the prior-year quarter.
According to the collective judgment of analysts, 'Revenue- Sequencing- Instruments' should come in at $136.15 million. The estimate suggests a change of -12.2% year over year.
The consensus among analysts is that 'Revenue- Sequencing- Consumables' will reach $720.30 million. The estimate indicates a change of +3.2% from the prior-year quarter.
The average prediction of analysts places 'Revenue- Microarrays- Instruments' at $5.57 million. The estimate suggests a change of +11.4% year over year.
Analysts' assessment points toward 'Revenue- Microarrays- Consumables' reaching $77.48 million. The estimate points to a change of -4.4% from the year-ago quarter.
The consensus estimate for 'Revenue by Source- Total product revenue- Sequencing' stands at $836.55 million. The estimate indicates a year-over-year change of -1.8%.
View all Key Company Metrics for Illumina here>>>
Shares of Illumina have experienced a change of -7.9% in the past month compared to the +0.9% move of the Zacks S&P 500 composite. With a Zacks Rank #3 (Hold), ILMN is expected to mirror the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Illumina, Inc. (ILMN): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
Zacks Investment Research
