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

Archer-Daniels-Midland (NYSE:ADM) updated its FY24 earnings guidance on Tuesday. The company provided EPS guidance of $5.25-$6.25 for the period, compared to the consensus EPS estimate of $5.57.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Barclays downgraded shares of Archer-Daniels-Midland from an overweight rating to an underweight rating and set a $60.00 price target for the company. in a research report on Monday, January 22nd. StockNews.com cut shares of Archer-Daniels-Midland from a buy rating to a hold rating in a report on Monday, January 22nd. Jefferies Financial Group dropped their target price on shares of Archer-Daniels-Midland from $70.00 to $65.00 and set a hold rating on the stock in a report on Wednesday, March 13th. Stifel Nicolaus cut shares of Archer-Daniels-Midland from a buy rating to a hold rating and dropped their target price for the stock from $116.00 to $56.00 in a report on Monday, January 22nd. Finally, TheStreet cut shares of Archer-Daniels-Midland from a b- rating to a c+ rating in a report on Monday, February 12th. One equities research analyst has rated the stock with a sell rating and fifteen have given a hold rating to the company’s stock. According to data from MarketBeat.com, Archer-Daniels-Midland currently has a consensus rating of Hold and a consensus target price of $67.50.

Archer-Daniels-Midland Stock Performance

Shares of NYSE ADM opened at $60.69 on Tuesday. The firm’s fifty day moving average is $59.21 and its two-hundred day moving average is $65.04. Archer-Daniels-Midland has a 52-week low of $50.72 and a 52-week high of $87.30. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.95 and a current ratio of 1.60. The company has a market cap of $30.45 billion, a P/E ratio of 9.48 and a beta of 0.77.

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

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.