Archer-Daniels-Midland (NYSE:ADM) Issues FY 2024 Earnings Guidance

Archer-Daniels-Midland (NYSE:ADM) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided EPS guidance of 5.250-6.250 for the period, compared to the consensus EPS estimate of 5.490. The company issued revenue guidance of -. Archer-Daniels-Midland also updated its FY24 guidance to $5.25-$6.25 EPS.

Archer-Daniels-Midland Stock Down 0.5 %

Shares of Archer-Daniels-Midland stock traded down $0.32 on Wednesday, hitting $62.18. The company had a trading volume of 2,082,848 shares, compared to its average volume of 4,997,184. Archer-Daniels-Midland has a twelve month low of $50.72 and a twelve month high of $87.29. The stock has a 50-day moving average of $61.98 and a 200-day moving average of $59.88. The firm has a market capitalization of $30.74 billion, a P/E ratio of 10.85 and a beta of 0.74. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.47 and a quick ratio of 0.88.

Archer-Daniels-Midland (NYSE:ADM) last announced its 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). Archer-Daniels-Midland had a return on equity of 13.87% and a net margin of 3.32%. The business had revenue of $22.25 billion for the quarter, compared to analyst estimates of $23.12 billion. During the same quarter in the previous year, the company posted $1.89 EPS. The business’s revenue for the quarter was down 11.7% compared to the same quarter last year. Research analysts predict that Archer-Daniels-Midland will post 5.54 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. JPMorgan Chase & Co. raised 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. Citigroup lowered their price target on shares of Archer-Daniels-Midland from $64.00 to $63.00 and set a neutral rating on the stock in a research report on Monday, July 15th. 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 currently has an average rating of Hold and an average target price of $66.79.

Insider Buying and Selling

In related 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 value of $419,279.92. Following the sale, the insider now directly owns 8,555 shares in the company, valued at approximately $519,545.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.20% of the stock is owned by 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.