Archer-Daniels-Midland (NYSE:ADM) Updates Q3 Earnings Guidance

Archer-Daniels-Midland (NYSE:ADM) updated its third quarter earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $1.09 for the period, compared to the consensus estimate of $1.24. Archer-Daniels-Midland also updated its FY 2024 guidance to 4.500-5.000 EPS.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. JPMorgan Chase & Co. boosted their price target on Archer-Daniels-Midland from $65.00 to $66.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Citigroup lowered their price objective on shares of Archer-Daniels-Midland from $64.00 to $63.00 and set a “neutral” rating on the stock in a research note on Monday, July 15th. Finally, UBS Group boosted their price target on Archer-Daniels-Midland from $60.00 to $64.00 and gave the stock a “neutral” rating in a research report on Monday, September 9th. One investment analyst has rated the stock with a sell rating and thirteen have issued a hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $63.82.

Archer-Daniels-Midland Stock Performance

Shares of Archer-Daniels-Midland stock traded down $0.78 during trading on Thursday, reaching $52.48. The company’s stock had a trading volume of 4,173,195 shares, compared to its average volume of 4,275,608. 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 business’s 50-day moving average price is $58.40 and its 200-day moving average price is $60.19. Archer-Daniels-Midland has a 52 week low of $48.92 and a 52 week high of $77.35. The firm has a market cap of $25.09 billion, a PE ratio of 10.54 and a beta of 0.73.

Insiders Place Their Bets

In other news, CEO Juan R. Luciano sold 3,683 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $61.00, for a total transaction of $224,663.00. 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 trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Juan R. Luciano sold 3,683 shares of the stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $61.00, for a total transaction of $224,663.00. Following the sale, the chief executive officer now owns 265,210 shares of the company’s stock, valued at $16,177,810. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, 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 value 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. 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 currently owned by corporate insiders.

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.