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

by · The Markets Daily

Archer-Daniels-Midland (NYSE:ADM – Get Free Report) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $4.50-5.00 for the period, compared to the consensus earnings per share estimate of $5.21. Archer-Daniels-Midland also updated its FY 2024 guidance to 4.500-5.000 EPS.

Archer-Daniels-Midland Price Performance

Shares of NYSE:ADM traded down $3.86 during midday trading on Tuesday, hitting $51.44. The company’s stock had a trading volume of 7,399,260 shares, compared to its average volume of 4,264,830. Archer-Daniels-Midland has a 12-month low of $48.92 and a 12-month high of $77.35. The company has a market cap of $24.60 billion, a P/E ratio of 9.90 and a beta of 0.73. The business’s 50 day simple moving average is $58.73 and its 200 day simple moving average is $60.31. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.88 and a current ratio of 1.44.

Archer-Daniels-Midland Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 11th. Investors of record on Wednesday, August 21st were paid a $0.50 dividend. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $2.00 dividend on an annualized basis and a yield of 3.89%. Archer-Daniels-Midland’s payout ratio is 40.16%.

Analysts Set New Price Targets

ADM has been the topic of a number of research analyst reports. UBS Group lifted their target price on Archer-Daniels-Midland from $60.00 to $64.00 and gave the stock a “neutral” rating in a report on Monday, September 9th. JPMorgan Chase & Co. boosted their price target on shares of Archer-Daniels-Midland from $65.00 to $66.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Finally, Citigroup cut their price target on shares of Archer-Daniels-Midland from $64.00 to $63.00 and set a “neutral” rating for the company in a report on Monday, July 15th. One equities research analyst has rated the stock with a sell rating and thirteen have issued a hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $63.82.

Get Our Latest Analysis on Archer-Daniels-Midland

Insider Buying and Selling at Archer-Daniels-Midland

In other news, CEO Juan R. Luciano sold 45,471 shares of the business’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $61.00, for a total transaction of $2,773,731.00. Following the sale, the chief executive officer now directly owns 265,210 shares in the company, valued at approximately $16,177,810. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CEO Juan R. Luciano sold 45,471 shares of the stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $61.00, for a total transaction of $2,773,731.00. Following the transaction, the chief executive officer now directly owns 265,210 shares in the company, valued at approximately $16,177,810. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Juan R. Luciano sold 170,194 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $60.51, for a total value of $10,298,438.94. Following the completion of the transaction, the chief executive officer now owns 265,210 shares of the company’s stock, valued at approximately $16,047,857.10. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 219,348 shares of company stock worth $13,296,833. Company insiders own 1.20% of the company’s stock.

About Archer-Daniels-Midland

(Get Free Report)

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.

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