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

Archer-Daniels-Midland (NYSE:ADM) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 5.250-6.250 for the period, compared to the consensus earnings per share estimate of 5.570. The company issued revenue guidance of -.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ADM. Bank of America reduced their price objective on Archer-Daniels-Midland from $85.00 to $74.00 and set a neutral rating for the company in a research note on Thursday, March 14th. Jefferies Financial Group reduced their price objective on Archer-Daniels-Midland from $70.00 to $65.00 and set a hold rating for the company in a research note on Wednesday, March 13th. StockNews.com cut Archer-Daniels-Midland from a buy rating to a hold rating in a research note on Monday, January 22nd. TheStreet cut Archer-Daniels-Midland from a b- rating to a c+ rating in a research note on Monday, February 12th. Finally, Robert W. Baird cut Archer-Daniels-Midland from an outperform rating to a neutral rating and reduced their price target for the company from $96.00 to $61.00 in a research report on Monday, January 22nd. One analyst has rated the stock with a sell rating and fifteen have issued a hold rating to the stock. According to MarketBeat, the company has a consensus rating of Hold and a consensus price target of $67.50.

Archer-Daniels-Midland Stock Down 0.3 %

Shares of ADM opened at $59.19 on Friday. The company has a current ratio of 1.47, a quick ratio of 0.95 and a debt-to-equity ratio of 0.35. Archer-Daniels-Midland has a 12 month low of $50.72 and a 12 month high of $87.30. The stock’s 50 day moving average is $59.52 and its two-hundred day moving average is $64.85. The firm has a market cap of $29.27 billion, a P/E ratio of 10.38 and a beta of 0.78.

Archer-Daniels-Midland (NYSE:ADM) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $1.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.35 by $0.11. The firm had revenue of $21.85 billion for the quarter, compared to analyst estimates of $22.26 billion. Archer-Daniels-Midland had a return on equity of 13.87% and a net margin of 3.32%. The business’s revenue was down 9.2% on a year-over-year basis. During the same period in the previous year, the company posted $2.09 earnings per share. Analysts predict that Archer-Daniels-Midland will post 5.48 earnings per share for the current fiscal year.

Archer-Daniels-Midland Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 5th. Stockholders of record on Thursday, May 16th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.38%. The ex-dividend date of this dividend is Wednesday, May 15th. Archer-Daniels-Midland’s dividend payout ratio is presently 35.09%.

Archer-Daniels-Midland declared that its board has authorized a share buyback program on Tuesday, March 12th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 6.4% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

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.