Archer-Daniels-Midland (NYSE:ADM – Get Free Report) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided EPS guidance of $5.25-$6.25 for the period, compared to the consensus EPS estimate of $5.57.
Analyst Ratings Changes
Several equities analysts have recently commented on the stock. UBS Group reaffirmed a neutral rating and set a $51.00 price objective (down from $104.00) on shares of Archer-Daniels-Midland in a research note on Friday, January 26th. StockNews.com lowered shares of Archer-Daniels-Midland from a buy rating to a hold rating in a research report on Monday, January 22nd. Roth Capital cut shares of Archer-Daniels-Midland from a buy rating to a neutral rating in a research note on Monday, January 22nd. Barclays cut shares of Archer-Daniels-Midland from an overweight rating to an underweight rating and set a $60.00 price target on the stock. in a research report on Monday, January 22nd. Finally, The Goldman Sachs Group cut Archer-Daniels-Midland from a buy rating to a neutral rating and reduced their price objective for the stock from $90.00 to $67.00 in a research note on Monday, January 22nd. One investment analyst has rated the stock with a sell rating and fifteen have assigned a hold rating to the company. According to MarketBeat.com, Archer-Daniels-Midland has an average rating of Hold and a consensus target price of $67.50.
Read Our Latest Research Report on Archer-Daniels-Midland
Archer-Daniels-Midland Trading Down 3.2 %
Archer-Daniels-Midland announced that its board has initiated a share buyback plan on Tuesday, March 12th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the company to reacquire up to 6.4% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its shares are undervalued.
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.
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