Illumina (ILMN) Stock Moves -1.64%: What You Should Know
Illumina (ILMN) closed the most recent trading day at $199.32, moving -1.64% from the previous trading session. This change was narrower than the S&P 500's 2.37% loss on the day. At the same time, the Dow lost 1.35%, and the tech-heavy Nasdaq lost 0.24%.
Heading into today, shares of the genetic testing tools company had gained 0.33% over the past month, outpacing the Medical sector's loss of 3.73% and the S&P 500's loss of 6.51% in that time.
Illumina will be looking to display strength as it nears its next earnings release, which is expected to be November 3, 2022. On that day, Illumina is projected to report earnings of $0.28 per share, which would represent a year-over-year decline of 80.69%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.1 billion, down 0.46% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $2.77 per share and revenue of $4.71 billion. These totals would mark changes of -53.05% and +3.98%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Illumina. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 1.25% lower. Illumina currently has a Zacks Rank of #5 (Strong Sell).
In terms of valuation, Illumina is currently trading at a Forward P/E ratio of 73.15. Its industry sports an average Forward P/E of 20.47, so we one might conclude that Illumina is trading at a premium comparatively.
The Medical - Biomedical and Genetics industry is part of the Medical sector. This group has a Zacks Industry Rank of 62, putting it in the top 25% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow ILMN in the coming trading sessions, be sure to utilize Zacks.com.
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