Archer-Daniels-Midland (NYSE:ADM) Issues 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 $5.25-$6.25 for the period, compared to the consensus EPS estimate of $5.57.

Archer-Daniels-Midland Trading Up 1.0 %

Shares of NYSE:ADM opened at $60.69 on Tuesday. The company has a market capitalization of $30.45 billion, a P/E ratio of 9.48 and a beta of 0.77. Archer-Daniels-Midland has a 1 year low of $50.72 and a 1 year high of $87.30. 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’s 50 day simple moving average is $59.21 and its 200 day simple moving average is $65.04.

Archer-Daniels-Midland announced that its Board of Directors has initiated a share buyback program on Tuesday, March 12th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 6.4% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on ADM shares. UBS Group reissued a neutral rating and set a $51.00 price target (down previously from $104.00) on shares of Archer-Daniels-Midland in a research report on Friday, January 26th. TheStreet cut Archer-Daniels-Midland from a b- rating to a c+ rating in a research note on Monday, February 12th. Barclays cut Archer-Daniels-Midland from an overweight rating to an underweight rating and set a $60.00 target price for the company. in a research note on Monday, January 22nd. Roth Capital cut Archer-Daniels-Midland from a buy rating to a neutral rating in a research note on Monday, January 22nd. Finally, Stifel Nicolaus cut Archer-Daniels-Midland from a buy rating to a hold rating and cut their target price for the stock from $116.00 to $56.00 in a research note on Monday, January 22nd. One research analyst has rated the stock with a sell rating and fifteen have given a hold rating to the company’s stock. According to MarketBeat.com, Archer-Daniels-Midland has an average rating of Hold and a consensus target price 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.