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

Archer-Daniels-Midland (NYSE:ADM) updated its FY24 earnings guidance on Tuesday. The company provided EPS guidance of $4.50-5.00 for the period, compared to the consensus EPS 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 subject of several recent research reports. Citigroup reduced their target price on shares of Archer-Daniels-Midland from $64.00 to $63.00 and set a “neutral” rating for the company in a research note on Monday, July 15th. JPMorgan Chase & Co. lifted their price objective on shares of Archer-Daniels-Midland from $65.00 to $66.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Finally, UBS Group increased their target price on Archer-Daniels-Midland from $60.00 to $64.00 and gave the stock a “neutral” rating in a research report on Monday, September 9th. One analyst has rated the stock with a sell rating and thirteen have given a hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $63.82.

Archer-Daniels-Midland Stock Up 1.2 %

Shares of NYSE ADM opened at $55.30 on Tuesday. The business has a 50-day moving average of $58.73 and a 200-day moving average of $60.31. The firm has a market capitalization of $26.44 billion, a price-to-earnings ratio of 11.10 and a beta of 0.73. The company has a current ratio of 1.44, a quick ratio of 0.88 and a debt-to-equity ratio of 0.37. Archer-Daniels-Midland has a 12 month low of $50.72 and a 12 month high of $77.35.

Archer-Daniels-Midland Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 11th. Stockholders of record on Wednesday, August 21st were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.62%. The ex-dividend date was Wednesday, August 21st. Archer-Daniels-Midland’s payout ratio is 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 on Tuesday, September 3rd. The stock was sold at an average price of $60.51, for a total value of $10,298,438.94. Following the transaction, the chief executive officer now owns 265,210 shares of the company’s stock, valued at $16,047,857.10. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Archer-Daniels-Midland news, CEO Juan R. Luciano sold 170,194 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $60.51, for a total value of $10,298,438.94. Following the completion of the sale, the chief executive officer now owns 265,210 shares of the company’s stock, valued at $16,047,857.10. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Juan R. Luciano sold 45,471 shares of the stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 265,210 shares in the company, valued at $16,177,810. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 219,348 shares of company stock valued at $13,296,833. 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.