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

Archer-Daniels-Midland (NYSE:ADM) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $4.50-5.00 for the period, compared to the consensus estimate of $5.21. Archer-Daniels-Midland also updated its FY 2024 guidance to 4.500-5.000 EPS.

Wall Street Analysts Forecast Growth

ADM has been the topic of several research reports. Citigroup dropped their price objective on shares of Archer-Daniels-Midland from $64.00 to $63.00 and set a “neutral” rating on the stock in a report on Monday, July 15th. UBS Group raised their price objective on Archer-Daniels-Midland from $60.00 to $64.00 and gave the company a “neutral” rating in a research note on Monday, September 9th. Finally, JPMorgan Chase & Co. increased their target price on Archer-Daniels-Midland from $65.00 to $66.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating and thirteen have issued a hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $63.82.

Archer-Daniels-Midland Stock Performance

Shares of ADM stock opened at $55.30 on Tuesday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.44 and a quick ratio of 0.88. The firm has a 50-day moving average of $58.73 and a 200-day moving average of $60.31. Archer-Daniels-Midland has a one year low of $50.72 and a one year high of $77.35. The company has a market cap of $26.44 billion, a P/E ratio of 11.10 and a beta of 0.73.

Archer-Daniels-Midland Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 11th. Shareholders of record on Wednesday, August 21st were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $2.00 annualized dividend and a dividend yield of 3.62%. Archer-Daniels-Midland’s dividend payout ratio is currently 40.16%.

Insider Transactions at Archer-Daniels-Midland

In related news, CEO Juan R. Luciano sold 170,194 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $60.51, for a total transaction of $10,298,438.94. Following the completion of the sale, the chief executive officer now directly owns 265,210 shares of the company’s stock, valued at approximately $16,047,857.10. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CEO Juan R. Luciano sold 45,471 shares of the firm’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $61.00, for a total transaction of $2,773,731.00. Following the completion of the sale, the chief executive officer now owns 265,210 shares in the company, valued at approximately $16,177,810. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Juan R. Luciano sold 170,194 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $60.51, for a total transaction of $10,298,438.94. Following the completion of the transaction, the chief executive officer now owns 265,210 shares in the company, valued at approximately $16,047,857.10. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 219,348 shares of company stock worth $13,296,833 in the last 90 days. Insiders own 1.20% of the company’s stock.

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.