Equities Analysts Issue Forecasts for Archer-Daniels-Midland Company’s Q2 2024 Earnings (NYSE:ADM)

Archer-Daniels-Midland Company (NYSE:ADM) – Zacks Research reduced their Q2 2024 earnings per share estimates for Archer-Daniels-Midland in a research note issued on Tuesday, May 21st. Zacks Research analyst R. Lohia now expects that the company will post earnings per share of $1.34 for the quarter, down from their prior forecast of $1.42. The consensus estimate for Archer-Daniels-Midland’s current full-year earnings is $5.60 per share. Zacks Research also issued estimates for Archer-Daniels-Midland’s Q1 2025 earnings at $1.37 EPS, FY2025 earnings at $5.48 EPS, Q1 2026 earnings at $1.58 EPS and FY2026 earnings at $5.58 EPS.

ADM has been the subject of a number of other reports. Jefferies Financial Group dropped 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. Argus lowered Archer-Daniels-Midland from a “buy” rating to a “hold” rating in a research note on Tuesday, January 23rd. Bank of America reduced their target price on Archer-Daniels-Midland from $85.00 to $74.00 and set a “neutral” rating on the stock in a research note on Thursday, March 14th. TheStreet lowered Archer-Daniels-Midland from a “b-” rating to a “c+” rating in a research note on Monday, February 12th. Finally, Citigroup upped their price objective on Archer-Daniels-Midland from $63.00 to $64.00 and gave the stock a “neutral” rating in a report on Wednesday, April 3rd. One research analyst has rated the stock with a sell rating and fifteen have assigned a hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $67.50.

Archer-Daniels-Midland Stock Up 0.7 %

Shares of ADM stock opened at $61.27 on Wednesday. The firm has a market capitalization of $30.29 billion, a PE ratio of 10.75 and a beta of 0.78. The stock’s 50-day simple moving average is $61.45 and its 200-day simple moving average is $63.74. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.88 and a current ratio of 1.47. Archer-Daniels-Midland has a fifty-two week low of $50.72 and a fifty-two week high of $87.30.

Archer-Daniels-Midland (NYSE:ADM) last released its quarterly earnings data 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. Archer-Daniels-Midland had a return on equity of 13.87% and a net margin of 3.32%. The business had revenue of $21.85 billion for the quarter, compared to the consensus estimate of $22.26 billion. During the same quarter in the previous year, the company posted $2.09 EPS. The company’s revenue was down 9.2% compared to the same quarter last year.

Institutional Investors Weigh In On Archer-Daniels-Midland

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Swedbank AB purchased a new position in shares of Archer-Daniels-Midland during the first quarter valued at approximately $23,106,000. LRI Investments LLC purchased a new position in shares of Archer-Daniels-Midland in the first quarter valued at about $342,000. Wahed Invest LLC lifted its position in shares of Archer-Daniels-Midland by 12.7% in the first quarter. Wahed Invest LLC now owns 10,278 shares of the company’s stock worth $646,000 after buying an additional 1,161 shares in the last quarter. Yaupon Capital Management LP purchased a new stake in Archer-Daniels-Midland during the first quarter valued at approximately $8,464,000. Finally, iA Global Asset Management Inc. grew its stake in Archer-Daniels-Midland by 4.6% in the first quarter. iA Global Asset Management Inc. now owns 26,377 shares of the company’s stock worth $1,657,000 after purchasing an additional 1,154 shares in the last quarter. 78.28% of the stock is owned by hedge funds and other institutional investors.

Archer-Daniels-Midland announced that its Board of Directors has approved a stock repurchase plan on Tuesday, March 12th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the company to buy up to 6.4% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Archer-Daniels-Midland Dividend Announcement

The firm 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 dividend of $0.50 per share. The ex-dividend date of this dividend is Wednesday, May 15th. This represents a $2.00 dividend on an annualized basis and a yield of 3.26%. Archer-Daniels-Midland’s dividend payout ratio is presently 35.09%.

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.