Illumina (ILMN - Free Report) closed at $339.15 in the latest trading session, marking a +0.97% move from the prior day. This change outpaced the S&P 500's 0.2% loss on the day. Meanwhile, the Dow lost 0.17%, and the Nasdaq, a tech-heavy index, lost 0.38%.
Prior to today's trading, shares of the genetic testing tools company had gained 10.29% over the past month. This has outpaced the Medical sector's gain of 1.65% and the S&P 500's gain of 0.33% in that time.
Wall Street will be looking for positivity from ILMN as it approaches its next earnings report date. In that report, analysts expect ILMN to post earnings of $1.40 per share. This would mark a year-over-year decline of 2.1%. Our most recent consensus estimate is calling for quarterly revenue of $886.93 million, up 6.86% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $6.68 per share and revenue of $3.76 billion. These totals would mark changes of +16.78% and +12.84%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for ILMN. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. ILMN is currently a Zacks Rank #2 (Buy).
Investors should also note ILMN's current valuation metrics, including its Forward P/E ratio of 50.28. This valuation marks a premium compared to its industry's average Forward P/E of 22.88.
Also, we should mention that ILMN has a PEG ratio of 2.34. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. ILMN's industry had an average PEG ratio of 1.74 as of yesterday's close.
The Medical - Biomedical and Genetics industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 77, which puts it in the top 31% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.