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

Archer-Daniels-Midland (NYSE:ADM) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided EPS guidance of $4.50-5.00 for the period, compared to the consensus EPS estimate of $5.21. Archer-Daniels-Midland also updated its FY 2024 guidance to 4.500-5.000 EPS.

Archer-Daniels-Midland Stock Performance

ADM traded down $0.78 during midday trading on Thursday, reaching $52.48. The company had a trading volume of 4,173,195 shares, compared to its average volume of 4,275,608. Archer-Daniels-Midland has a 1 year low of $48.92 and a 1 year high of $77.35. The company has a quick ratio of 0.88, a current ratio of 1.44 and a debt-to-equity ratio of 0.37. The company has a market cap of $25.09 billion, a P/E ratio of 10.54 and a beta of 0.73. The business has a 50-day moving average of $58.40 and a two-hundred day moving average of $60.19.

Wall Street Analyst Weigh In

ADM has been the topic of several analyst reports. JPMorgan Chase & Co. lifted their price target on shares of Archer-Daniels-Midland from $65.00 to $66.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. UBS Group raised their price objective on shares of Archer-Daniels-Midland from $60.00 to $64.00 and gave the company a “neutral” rating in a research report on Monday, September 9th. Finally, Citigroup cut their price target on Archer-Daniels-Midland from $64.00 to $63.00 and set a “neutral” rating for the company in a research note on Monday, July 15th. One research analyst has rated the stock with a sell rating and thirteen have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $63.82.

Insider Buying and Selling at Archer-Daniels-Midland

In related news, CEO Juan R. Luciano sold 170,194 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $60.51, for a total value of $10,298,438.94. Following the completion of the transaction, the chief executive officer now owns 265,210 shares of the company’s stock, valued at approximately $16,047,857.10. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Archer-Daniels-Midland news, CEO Juan R. Luciano sold 170,194 shares of Archer-Daniels-Midland stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $60.51, for a total transaction of $10,298,438.94. Following the completion of the transaction, the chief executive officer now directly owns 265,210 shares of the company’s stock, valued at $16,047,857.10. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Juan R. Luciano sold 45,471 shares of Archer-Daniels-Midland stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $61.00, for a total transaction of $2,773,731.00. Following the transaction, the chief executive officer now directly owns 265,210 shares of the company’s stock, valued at approximately $16,177,810. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 219,348 shares of company stock worth $13,296,833 in the last quarter. 1.20% of the stock is owned by corporate insiders.

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.