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

Archer-Daniels-Midland (NYSE:ADM) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $5.25-$6.25 for the period, compared to the consensus earnings per share estimate of $5.57.

Analysts Set New Price Targets

A number of research firms recently weighed in on ADM. Roth Mkm lowered shares of Archer-Daniels-Midland from a buy rating to a neutral rating and lowered their price objective for the stock from $98.00 to $66.00 in a research note on Monday, January 22nd. Robert W. Baird lowered shares of Archer-Daniels-Midland from an outperform rating to a neutral rating and lowered their price target for the company from $96.00 to $61.00 in a 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. Bank of America cut their price target on shares of Archer-Daniels-Midland from $85.00 to $74.00 and set a neutral rating for the company in a report on Thursday, March 14th. Finally, BMO Capital Markets cut their target price on shares of Archer-Daniels-Midland from $66.00 to $60.00 and set a market perform rating for the company in a research note on Wednesday, March 13th. One research analyst has rated the stock with a sell rating and fifteen have issued a hold rating to the stock. According to data from MarketBeat.com, Archer-Daniels-Midland presently has a consensus rating of Hold and an average target price of $67.50.

Archer-Daniels-Midland Trading Down 3.2 %

Shares of NYSE ADM traded down $1.93 during trading on Tuesday, reaching $58.76. The stock had a trading volume of 2,991,617 shares, compared to its average volume of 5,847,324. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.95 and a current ratio of 1.60. The company has a market cap of $29.48 billion, a P/E ratio of 9.48 and a beta of 0.77. Archer-Daniels-Midland has a fifty-two week low of $50.72 and a fifty-two week high of $87.30. The business’s 50-day moving average price is $59.21 and its 200-day moving average price is $65.04.

Archer-Daniels-Midland announced that its board has initiated a share buyback program on Tuesday, March 12th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the company to purchase up to 6.4% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

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.