Archer-Daniels-Midland (NYSE:ADM) Updates FY24 Earnings Guidance

Archer-Daniels-Midland (NYSE:ADM) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided EPS guidance of $5.25-$6.25 for the period, compared to the consensus EPS estimate of $5.49. Archer-Daniels-Midland also updated its FY 2024 guidance to 5.250-6.250 EPS.

Analysts Set New Price Targets

Several research firms have recently issued reports on ADM. Citigroup dropped their price objective on shares of Archer-Daniels-Midland from $64.00 to $63.00 and set a neutral rating for the company in a research report on Monday, July 15th. JPMorgan Chase & Co. increased their target price on Archer-Daniels-Midland from $65.00 to $66.00 and gave the company a neutral rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating and fifteen have issued a hold rating to the company’s stock. Based on data from MarketBeat, Archer-Daniels-Midland has a consensus rating of Hold and an average target price of $64.62.

Archer-Daniels-Midland Stock Performance

ADM stock opened at $59.87 on Friday. Archer-Daniels-Midland has a fifty-two week low of $50.72 and a fifty-two week high of $87.29. The company has a market capitalization of $28.63 billion, a P/E ratio of 10.61 and a beta of 0.74. The company has a 50-day simple moving average of $61.98 and a 200 day simple moving average of $59.90. The company has a quick ratio of 0.88, a current ratio of 4.58 and a debt-to-equity ratio of 0.37.

Archer-Daniels-Midland (NYSE:ADM) last issued its quarterly earnings results on Tuesday, July 30th. The company reported $1.03 EPS for the quarter, missing the consensus estimate of $1.22 by ($0.19). The business had revenue of $22.25 billion during the quarter, compared to the consensus estimate of $23.12 billion. Archer-Daniels-Midland had a return on equity of 12.06% and a net margin of 2.93%. Archer-Daniels-Midland’s revenue was down 11.7% compared to the same quarter last year. During the same quarter last year, the firm posted $1.89 earnings per share. Sell-side analysts predict that Archer-Daniels-Midland will post 5.54 earnings per share for the current fiscal year.

Insider Activity

In other Archer-Daniels-Midland news, insider Fruit Molly L. Strader sold 6,904 shares of the business’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $60.73, for a total transaction of $419,279.92. Following the sale, the insider now owns 8,555 shares in the company, valued at approximately $519,545.15. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.20% of the stock is currently owned by company insiders.

Archer-Daniels-Midland Company Profile

Archer-Daniels-Midland Company engages in the procurement, transportation, storage, processing, and merchandising of agricultural commodities, ingredients, flavors, and solutions in the United States, Switzerland, the Cayman Islands, Brazil, Mexico, Canada, the United Kingdom, and internationally. It operates in three segments: Ag Services and Oilseeds, Carbohydrate Solutions, and Nutrition.