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

Archer-Daniels-Midland (NYSE:ADM) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $5.25-$6.25 for the period, compared to the consensus estimate of $5.57.

Archer-Daniels-Midland Trading Up 1.5 %

Shares of NYSE:ADM traded up $0.87 during mid-day trading on Thursday, hitting $59.24. The stock had a trading volume of 1,834,358 shares, compared to its average volume of 5,836,848. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.95 and a current ratio of 6.35. The company has a market cap of $29.72 billion, a PE ratio of 10.24 and a beta of 0.78. Archer-Daniels-Midland has a 12-month low of $50.72 and a 12-month high of $87.30. The company’s 50 day moving average is $59.41 and its 200-day moving average is $64.89.

Archer-Daniels-Midland (NYSE:ADM) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $1.46 EPS for the quarter, beating the consensus estimate of $1.35 by $0.11. The business had revenue of $21.85 billion during the quarter, compared to the consensus estimate of $22.26 billion. Archer-Daniels-Midland had a net margin of 3.32% and a return on equity of 13.87%. The firm’s quarterly revenue was down 9.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.09 EPS. On average, sell-side analysts predict that Archer-Daniels-Midland will post 5.48 EPS for the current year.

Archer-Daniels-Midland Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 5th. Shareholders of record on Thursday, May 16th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 3.38%. Archer-Daniels-Midland’s payout ratio is 35.09%.

Archer-Daniels-Midland announced that its board has initiated a share repurchase program on Tuesday, March 12th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the company to buy up to 6.4% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Jefferies Financial Group cut their target price on shares of Archer-Daniels-Midland from $70.00 to $65.00 and set a hold rating for the company in a research report on Wednesday, March 13th. Roth Capital lowered shares of Archer-Daniels-Midland from a buy rating to a neutral rating in a research note on Monday, January 22nd. Stifel Nicolaus lowered shares of Archer-Daniels-Midland from a buy rating to a hold rating and dropped their price target for the stock from $116.00 to $56.00 in a research note on Monday, January 22nd. The Goldman Sachs Group lowered shares of Archer-Daniels-Midland from a buy rating to a neutral rating and dropped their price target for the stock from $90.00 to $67.00 in a research note on Monday, January 22nd. Finally, Robert W. Baird lowered shares of Archer-Daniels-Midland from an outperform rating to a neutral rating and dropped their price target for the stock from $96.00 to $61.00 in a research note on Monday, January 22nd. One analyst has rated the stock with a sell rating and fifteen have assigned a hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of Hold and a consensus price target of $67.50.

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.