Wall Street analysts forecast that Illumina (ILMN) will report quarterly earnings of $0.87 per share in its upcoming release, pointing to a year-over-year increase of 163.6%. It is anticipated that revenues will amount to $1.08 billion, exhibiting a decline of 3.6% compared to the year-ago quarter.
The consensus EPS estimate for the quarter has undergone an upward revision of 0.8% 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.
Before a company reveals its earnings, it is vital to take into account any changes in earnings projections. These revisions play a pivotal role in predicting the possible reactions of investors toward the stock. Multiple empirical studies have consistently shown a strong association between trends in earnings estimates and the short-term price movements of a stock.
While it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield valuable insights.
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 forecast 'Revenue- Core Illumina' to reach $1.08 billion. The estimate points to a change of -2.4% from the year-ago quarter.
It is projected by analysts that the 'Revenue- Microarrays- Consumables' will reach $77.72 million. The estimate indicates a change of +9.5% from the prior-year quarter.
Analysts' assessment points toward 'Revenue- Microarrays- Instruments' reaching $3.65 million. The estimate suggests a change of +21.5% year over year.
The consensus among analysts is that 'Revenue- Microarrays- Total' will reach $81.37 million. The estimate suggests a change of -9.6% year over year.
According to the collective judgment of analysts, 'Revenue- Sequencing- Consumables' should come in at $725.35 million. The estimate indicates a year-over-year change of +4.4%.
The collective assessment of analysts points to an estimated 'Revenue- Sequencing- Instruments' of $107.52 million. The estimate indicates a year-over-year change of -39.9%.
The combined assessment of analysts suggests that 'Revenue- Product revenue- Instruments' will likely reach $111.17 million. The estimate points to a change of -38.9% from the year-ago quarter.
Based on the collective assessment of analysts, 'Revenue- Product revenue' should arrive at $914.24 million. The estimate indicates a change of -2.8% from the prior-year quarter.
Analysts expect 'Revenue- Service and other revenue' to come in at $167.46 million. The estimate suggests a change of -5.9% year over year.
The average prediction of analysts places 'Revenue- Product revenue- Consumable' at $803.07 million. The estimate indicates a year-over-year change of +4.8%.
Analysts predict that the 'Revenue by Source- Total product revenue- Sequencing' will reach $832.87 million. The estimate suggests a change of -18% year over year.
View all Key Company Metrics for Illumina here>>>
Over the past month, shares of Illumina have returned +13.2% versus the Zacks S&P 500 composite's +1.8% change. Currently, ILMN carries a Zacks Rank #3 (Hold), suggesting that its performance may align with the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
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