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

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

Archer-Daniels-Midland Price Performance

Archer-Daniels-Midland stock opened at $59.87 on Friday. The company has a current ratio of 4.58, a quick ratio of 0.88 and a debt-to-equity ratio of 0.37. Archer-Daniels-Midland has a 12-month low of $50.72 and a 12-month high of $87.29. The firm has a market capitalization of $28.63 billion, a PE ratio of 10.61 and a beta of 0.74. The firm has a 50-day moving average price of $61.98 and a 200-day moving average price of $59.90.

Archer-Daniels-Midland (NYSE:ADM) last posted its quarterly earnings data on Tuesday, July 30th. The company reported $1.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.19). Archer-Daniels-Midland had a net margin of 2.93% and a return on equity of 12.06%. The business had revenue of $22.25 billion for the quarter, compared to analysts’ expectations of $23.12 billion. During the same quarter in the previous year, the firm earned $1.89 EPS. Archer-Daniels-Midland’s revenue was down 11.7% compared to the same quarter last year. As a group, equities research analysts forecast that Archer-Daniels-Midland will post 5.54 EPS for the current year.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In other Archer-Daniels-Midland news, insider Fruit Molly L. Strader sold 6,904 shares of the firm’s stock in a transaction on Wednesday, May 22nd. The shares were 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 of the company’s stock, valued at $519,545.15. The transaction was disclosed in a filing with the SEC, which is available at this link. 1.20% of the stock is owned by company insiders.

About Archer-Daniels-Midland

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.