Illumina Inc. (ILMN), a leading developer of next-generation tools for the large-scale analysis of genetic variation and function, is a company that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.
These positive earnings estimate revisions suggest that analysts are becoming more optimistic on ILMN’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Illumina Inc. could be a solid choice for investors.
Current Quarter Estimates for ILMN
In the past 30 days, 12 estimates have gone higher for Illumina Inc. with no downward revision in the same time period. The trend has been pretty favorable too, with estimates increasing from 64 cents per share 30 days ago, to 78 cents a share today, a move of 21.9%.
Current Year Estimates for ILMN
Meanwhile, Illumina Inc.’s current year figures have seen 14 estimates moving higher in the past month, compared to no downward revision. The consensus estimate trend has also seen a boost for this time frame, increasing from $2.29 per share 30 days ago to $2.64 per share today, an increase of 15.3%.
Bottom Line
The stock has also started to move higher lately, adding 15.4% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #1 (Strong Buy) stock to profit in the near future.
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