Archer-Daniels-Midland (NYSE:ADM) Updates FY 2024 Earnings Guidance

Archer-Daniels-Midland (NYSE:ADM) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 5.250-6.250 for the period, compared to the consensus estimate of 5.570. The company issued revenue guidance of -.

Archer-Daniels-Midland Price Performance

ADM opened at $59.19 on Friday. Archer-Daniels-Midland has a twelve month low of $50.72 and a twelve month high of $87.30. The firm has a market cap of $29.27 billion, a price-to-earnings ratio of 10.38 and a beta of 0.78. The company has a current ratio of 1.47, a quick ratio of 0.95 and a debt-to-equity ratio of 0.35. The company has a fifty day simple moving average of $59.52 and a 200 day simple moving average of $64.85.

Archer-Daniels-Midland (NYSE:ADM) last announced its earnings results on Tuesday, April 30th. The company reported $1.46 earnings per share for the quarter, beating the consensus estimate of $1.35 by $0.11. Archer-Daniels-Midland had a return on equity of 13.87% and a net margin of 3.32%. The company had revenue of $21.85 billion during the quarter, compared to the consensus estimate of $22.26 billion. During the same period last year, the firm earned $2.09 earnings per share. The company’s revenue was down 9.2% on a year-over-year basis. Equities research analysts expect that Archer-Daniels-Midland will post 5.48 EPS for the current fiscal year.

Archer-Daniels-Midland Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 5th. Shareholders of record on Thursday, May 16th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.38%. The ex-dividend date is Wednesday, May 15th. Archer-Daniels-Midland’s payout ratio is 35.09%.

Archer-Daniels-Midland announced that its Board of Directors has initiated a share repurchase program on Tuesday, March 12th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the company to buy up to 6.4% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

ADM has been the subject of several recent analyst reports. Roth Mkm lowered shares of Archer-Daniels-Midland from a buy rating to a neutral rating and decreased their price objective for the stock from $98.00 to $66.00 in a report on Monday, January 22nd. The Goldman Sachs Group cut shares of Archer-Daniels-Midland from a buy rating to a neutral rating and reduced their price target for the stock from $90.00 to $67.00 in a research report on Monday, January 22nd. StockNews.com cut shares of Archer-Daniels-Midland from a buy rating to a hold rating in a research report on Monday, January 22nd. Roth Capital lowered shares of Archer-Daniels-Midland from a buy rating to a neutral rating in a research note on Monday, January 22nd. Finally, Bank of America dropped their price objective on shares of Archer-Daniels-Midland from $85.00 to $74.00 and set a neutral rating on the stock in a research note on Thursday, March 14th. One research analyst has rated the stock with a sell rating and fifteen have issued a hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of Hold and a consensus price target of $67.50.

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.