Citigroup Inc. began coverage on shares of Archer Daniels Midland (NYSE:ADM) in a research note issued to investors on Monday, TheFlyOnTheWall.com reports. The firm issued a neutral rating and a $35.00 price target on the stock.
“On Thanksgiving day (11/28/13), the Australian government sure didn’t give thanks to Archer Daniels (ADM), and rejected ADM’ A$3.4 billion acquisition offer for GrainCorp, citing that it wasn’t in the best interest of Australia to allow the deal to proceed. Post this event, we are resuming our coverage of ADM. We rate the shares of Archer Daniels Midland Neutral, as we believe that ADM shares are fairly valued at current prices.,” the firm’s analyst commented.
Archer Daniels Midland (NYSE:ADM) traded up 0.27% on Monday, hitting $40.96. 580,812 shares of the company’s stock traded hands. Archer Daniels Midland has a 52 week low of $26.37 and a 52 week high of $42.14. The stock’s 50-day moving average is $40.17 and its 200-day moving average is $36.67. The company has a market cap of $26.950 billion and a price-to-earnings ratio of 18.31.
Archer Daniels Midland (NYSE:ADM) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $0.46 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.46. The company had revenue of $21.39 billion for the quarter, compared to the consensus estimate of $20.76 billion. During the same quarter last year, the company posted $0.50 earnings per share. Archer Daniels Midland’s revenue was down 1.9% compared to the same quarter last year. On average, analysts predict that Archer Daniels Midland will post $2.25 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, December 5th. Stockholders of record on Thursday, November 14th will be paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 1.86%. The ex-dividend date is Tuesday, November 12th.
A number of other firms have also recently commented on ADM. Analysts at Ned Davis Research downgraded shares of Archer Daniels Midland from a buy rating to a neutral rating in a research note to investors on Monday, November 18th. Separately, analysts at Zacks reiterated a neutral rating on shares of Archer Daniels Midland in a research note to investors on Wednesday, November 13th. They now have a $42.00 price target on the stock. Finally, analysts at Argus upgraded shares of Archer Daniels Midland from a hold rating to a buy rating in a research note to investors on Thursday, October 31st. They now have a $49.00 price target on the stock. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The stock presently has an average rating of Buy and an average target price of $37.32.
Archer-Daniels-Midland-Company, is engaged in the processing of oilseeds, corn, wheat, cocoa, and other agricultural commodities.
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