Wall Street analysts forecast that Illumina (ILMN) will report quarterly earnings of $0.96 per share in its upcoming release, pointing to a year-over-year increase of 966.7%. It is anticipated that revenues will amount to $1.04 billion, exhibiting a decline of 3.5% compared to the year-ago quarter.
The consensus EPS estimate for the quarter has undergone a downward revision of 0.6% in the past 30 days, bringing it to its present level. This represents how the covering analysts, as a whole, have reassessed their initial estimates during this timeframe.
Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance of a stock.
While investors usually depend on consensus earnings and revenue estimates to assess the business performance for the quarter, delving into analysts' forecasts for certain key metrics often provides a more comprehensive understanding.
Given this perspective, it's time to examine the average forecasts of specific Illumina metrics that are routinely monitored and predicted by Wall Street analysts.
Analysts expect 'Revenue- Product revenue- Consumable' to come in at $763.09 million. The estimate indicates a year-over-year change of +0.1%.
The consensus estimate for 'Revenue- Service and other revenue' stands at $170.12 million. The estimate suggests a change of -14.9% year over year.
Analysts predict that the 'Revenue- Product revenue' will reach $872.04 million. The estimate indicates a year-over-year change of -0.5%.
Based on the collective assessment of analysts, 'Revenues- Core Illumina- Service and other revenue' should arrive at $175.08 million. The estimate indicates a year-over-year change of +1.2%.
The consensus among analysts is that 'Revenues- Core Illumina- Total product revenue' will reach $869.69 million. The estimate suggests a change of -1.5% year over year.
The combined assessment of analysts suggests that 'Revenue- Product revenue- Instruments' will likely reach $108.95 million. The estimate indicates a change of -4.4% from the prior-year quarter.
Analysts' assessment points toward 'Revenues- Core Illumina- Consumables' reaching $748.87 million. The estimate indicates a change of -2.6% from the prior-year quarter.
According to the collective judgment of analysts, 'Revenue- Sequencing- Instruments' should come in at $108.51 million. The estimate points to a change of -1.4% from the year-ago quarter.
The collective assessment of analysts points to an estimated 'Revenue- Sequencing- Consumables' of $679.85 million. The estimate suggests a change of -2.6% year over year.
It is projected by analysts that the 'Revenue- Microarrays- Instruments' will reach $3.61 million. The estimate indicates a change of -9.9% from the prior-year quarter.
The average prediction of analysts places 'Revenue- Microarrays- Consumables' at $74.59 million. The estimate indicates a year-over-year change of +5.1%.
Analysts forecast 'Revenue- Core Illumina' to reach $1.03 billion. The estimate indicates a year-over-year change of -2.1%.
View all Key Company Metrics for Illumina here>>>
Shares of Illumina have demonstrated returns of +5% over the past month compared to the Zacks S&P 500 composite's +0.4% change. 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 >>>>
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Illumina, Inc. (ILMN): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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