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 guidance of $1.09 for the period, compared to the consensus earnings per share estimate of $1.24. Archer-Daniels-Midland also updated its FY 2024 guidance to 4.500-5.000 EPS.

Archer-Daniels-Midland Trading Down 1.4 %

Shares of NYSE ADM traded down $0.73 during mid-day trading on Friday, reaching $51.76. The company had a trading volume of 300,236 shares, compared to its average volume of 4,257,292. The stock has a market cap of $24.75 billion, a price-to-earnings ratio of 10.54 and a beta of 0.73. The company has a current ratio of 1.44, a quick ratio of 0.88 and a debt-to-equity ratio of 0.37. Archer-Daniels-Midland has a 52 week low of $48.92 and a 52 week high of $77.35. The business’s 50-day moving average is $58.40 and its 200-day moving average is $60.19.

Archer-Daniels-Midland Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 21st will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 3.86%. Archer-Daniels-Midland’s dividend payout ratio (DPR) is currently 40.16%.

Wall Street Analyst Weigh In

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

Insider Transactions at Archer-Daniels-Midland

In other Archer-Daniels-Midland news, CEO Juan R. Luciano sold 45,471 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $61.00, for a total value of $2,773,731.00. Following the transaction, the chief executive officer now owns 265,210 shares in the company, valued at approximately $16,177,810. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CEO Juan R. Luciano sold 170,194 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $60.51, for a total value of $10,298,438.94. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Juan R. Luciano sold 45,471 shares of the company’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $61.00, for a total value of $2,773,731.00. Following the completion of the sale, the chief executive officer now owns 265,210 shares of the company’s stock, valued at approximately $16,177,810. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 219,348 shares of company stock valued at $13,296,833 over the last ninety days. Insiders own 1.20% of the company’s stock.

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.