Archer-Daniels-Midland (NYSE:ADM) Posts Quarterly Earnings Results, Misses Estimates By $0.19 EPS

Archer-Daniels-Midland (NYSE:ADM) issued its quarterly earnings data on Tuesday. The company reported $1.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.22 by ($0.19), Briefing.com reports. Archer-Daniels-Midland had a net margin of 2.93% and a return on equity of 12.06%. The firm had revenue of $22.25 billion during the quarter, compared to analyst estimates of $23.12 billion. During the same period last year, the business earned $1.89 EPS. The firm’s revenue was down 11.7% compared to the same quarter last year. Archer-Daniels-Midland updated its FY 2024 guidance to 5.250-6.250 EPS and its FY24 guidance to $5.25-$6.25 EPS.

Archer-Daniels-Midland Trading Down 2.5 %

Shares of ADM traded down $1.53 during mid-day trading on Thursday, hitting $60.48. The company had a trading volume of 3,560,888 shares, compared to its average volume of 5,006,703. The business’s 50-day simple moving average is $61.98 and its 200-day simple moving average is $59.90. The stock has a market cap of $29.90 billion, a PE ratio of 10.69 and a beta of 0.74. 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 has a 1-year low of $50.72 and a 1-year high of $87.29.

Insider Activity at Archer-Daniels-Midland

In related news, insider Fruit Molly L. Strader sold 6,904 shares of the stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $60.73, for a total value of $419,279.92. Following the completion of the transaction, 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 Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.20% of the company’s stock.

Analyst Upgrades and Downgrades

ADM has been the topic of several research reports. Citigroup dropped their price target on Archer-Daniels-Midland from $64.00 to $63.00 and set a “neutral” rating on the stock in a report on Monday, July 15th. JPMorgan Chase & Co. lifted their target price on shares of 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 assigned a hold rating to the company. According to data from MarketBeat, Archer-Daniels-Midland presently has a consensus rating of “Hold” and a consensus price target of $66.79.

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.