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

Archer-Daniels-Midland (NYSE:ADM) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share guidance of $5.25-$6.25 for the period, compared to the consensus earnings per share estimate of $5.49. Archer-Daniels-Midland also updated its FY 2024 guidance to 5.250-6.250 EPS.

Analyst Ratings Changes

Separately, Citigroup reduced 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 research analyst has rated the stock with a sell rating and fifteen have assigned a hold rating to the company. According to MarketBeat.com, Archer-Daniels-Midland currently has a consensus rating of Hold and an average price target of $67.43.

Archer-Daniels-Midland Stock Performance

Shares of Archer-Daniels-Midland stock traded down $0.17 during trading hours on Tuesday, reaching $63.13. The company’s stock had a trading volume of 3,349,047 shares, compared to its average volume of 4,997,329. 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 one year low of $50.72 and a one year high of $87.29. The company’s 50 day simple moving average is $61.96 and its 200 day simple moving average is $59.93. The stock has a market cap of $31.21 billion, a P/E ratio of 11.11 and a beta of 0.74.

Archer-Daniels-Midland (NYSE:ADM) last issued its earnings results on Tuesday, April 30th. The company reported $1.46 EPS for the quarter, beating analysts’ consensus estimates of $1.35 by $0.11. The company had revenue of $21.85 billion during the quarter, compared to the consensus estimate of $22.26 billion. Archer-Daniels-Midland had a return on equity of 13.87% and a net margin of 3.32%. Archer-Daniels-Midland’s quarterly revenue was down 9.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.09 earnings per share. As a group, analysts expect that Archer-Daniels-Midland will post 5.54 EPS for the current fiscal year.

Archer-Daniels-Midland Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 5th. Stockholders of record on Thursday, May 16th were given a dividend of $0.50 per share. The ex-dividend date was Wednesday, May 15th. This represents a $2.00 annualized dividend and a dividend yield of 3.17%. Archer-Daniels-Midland’s dividend payout ratio is currently 35.09%.

Insiders Place Their Bets

In other Archer-Daniels-Midland news, insider Fruit Molly L. Strader sold 6,904 shares of the firm’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $60.73, for a total value of $419,279.92. Following the sale, the insider now owns 8,555 shares in the company, valued at $519,545.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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.