Archer-Daniels-Midland (NYSE:ADM) Issues Quarterly Earnings Results

Archer-Daniels-Midland (NYSE:ADM) announced its earnings results on Tuesday. The company reported $1.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.22 by ($0.19), Briefing.com reports. The company had revenue of $22.25 billion for the quarter, compared to the consensus estimate of $23.12 billion. Archer-Daniels-Midland had a net margin of 2.93% and a return on equity of 12.06%. The firm’s revenue was down 11.7% compared to the same quarter last year. During the same period last year, the business posted $1.89 EPS. Archer-Daniels-Midland updated its FY 2024 guidance to 5.250-6.250 EPS and its FY24 guidance to $5.25-$6.25 EPS.

Archer-Daniels-Midland Stock Performance

ADM traded down $1.53 on Thursday, reaching $60.48. The stock had a trading volume of 3,560,888 shares, compared to its average volume of 5,006,703. Archer-Daniels-Midland has a 12-month low of $50.72 and a 12-month high of $87.29. The company has a current ratio of 4.58, a quick ratio of 0.88 and a debt-to-equity ratio of 0.37. The business’s 50-day moving average price is $61.98 and its two-hundred day moving average price is $59.90. The company has a market cap of $29.90 billion, a P/E ratio of 10.69 and a beta of 0.74.

Insider Transactions at Archer-Daniels-Midland

In other Archer-Daniels-Midland news, insider Fruit Molly L. Strader sold 6,904 shares of the business’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $60.73, for a total transaction of $419,279.92. Following the sale, the insider now directly owns 8,555 shares in the company, valued at $519,545.15. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 1.20% of the company’s stock.

Analyst Ratings Changes

ADM has been the topic of several research reports. Citigroup decreased their target price on Archer-Daniels-Midland from $64.00 to $63.00 and set a “neutral” rating on the stock in a research note on Monday, July 15th. JPMorgan Chase & Co. boosted their target price 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. One investment analyst has rated the stock with a sell rating and fifteen have issued a hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $66.79.

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.