Archer-Daniels-Midland (ADM) to Release Quarterly Earnings on Tuesday

Archer-Daniels-Midland (NYSE:ADM) will announce its earnings results before the market opens on Tuesday, April 23rd. Analysts expect the company to announce earnings of $1.35 per share for the quarter. Archer-Daniels-Midland has set its FY 2024 guidance at 5.250-6.250 EPS and its FY24 guidance at $5.25-6.25 EPS.Parties interested in registering for the company’s conference call can do so using this link.

Archer-Daniels-Midland (NYSE:ADM) last posted its earnings results on Tuesday, March 12th. The company reported $1.36 EPS for the quarter, missing the consensus estimate of $1.43 by ($0.07). The business had revenue of $22.98 billion during the quarter, compared to analysts’ expectations of $23.79 billion. Archer-Daniels-Midland had a net margin of 3.71% and a return on equity of 15.25%. The business’s quarterly revenue was down 11.4% compared to the same quarter last year. During the same period last year, the company earned $1.93 EPS. On average, analysts expect Archer-Daniels-Midland to post $5 EPS for the current fiscal year and $6 EPS for the next fiscal year.

Archer-Daniels-Midland Stock Up 1.4 %

Shares of NYSE ADM opened at $62.60 on Monday. Archer-Daniels-Midland has a 1 year low of $50.72 and a 1 year high of $87.30. The company has a market capitalization of $31.41 billion, a price-to-earnings ratio of 9.78 and a beta of 0.77. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.60 and a quick ratio of 0.95. The business has a 50-day moving average of $58.28 and a two-hundred day moving average of $65.55.

Archer-Daniels-Midland Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 29th. Investors of record on Thursday, February 8th were paid a dividend of $0.50 per share. This is a boost from Archer-Daniels-Midland’s previous quarterly dividend of $0.45. The ex-dividend date was Wednesday, February 7th. This represents a $2.00 annualized dividend and a yield of 3.19%. Archer-Daniels-Midland’s payout ratio is presently 31.25%.

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

Hedge Funds Weigh In On Archer-Daniels-Midland

Large investors have recently made changes to their positions in the stock. XTX Topco Ltd acquired a new position in Archer-Daniels-Midland during the first quarter worth about $207,000. Green Square Capital Advisors LLC purchased a new position in Archer-Daniels-Midland in the 4th quarter valued at approximately $206,000. CreativeOne Wealth LLC boosted its position in Archer-Daniels-Midland by 7.0% during the second quarter. CreativeOne Wealth LLC now owns 2,688 shares of the company’s stock worth $204,000 after purchasing an additional 175 shares in the last quarter. SVB Wealth LLC purchased a new position in shares of Archer-Daniels-Midland in the first quarter valued at $202,000. Finally, KB Financial Partners LLC acquired a new stake in Archer-Daniels-Midland in the 1st quarter valued at about $110,000. Hedge funds and other institutional investors own 78.28% of the company’s stock.

Analyst Upgrades and Downgrades

ADM has been the subject of several research analyst reports. Jefferies Financial Group lowered their target price on shares of Archer-Daniels-Midland from $70.00 to $65.00 and set a “hold” rating for the company in a report on Wednesday, March 13th. Stifel Nicolaus cut shares of Archer-Daniels-Midland from a “buy” rating to a “hold” rating and reduced their target price for the company from $116.00 to $56.00 in a report on Monday, January 22nd. UBS Group reiterated a “neutral” rating and set a $51.00 target price (down previously from $104.00) on shares of Archer-Daniels-Midland in a research note on Friday, January 26th. The Goldman Sachs Group downgraded Archer-Daniels-Midland from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $90.00 to $67.00 in a research note on Monday, January 22nd. Finally, Roth Capital downgraded Archer-Daniels-Midland from a “buy” rating to a “neutral” rating 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’s stock. According to MarketBeat, Archer-Daniels-Midland currently 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.