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 %

Archer-Daniels-Midland stock traded down $0.73 during mid-day trading on Friday, hitting $51.76. The company’s stock had a trading volume of 300,236 shares, compared to its average volume of 4,257,292. The stock’s fifty day moving average is $58.40 and its two-hundred day moving average is $60.19. The company has a current ratio of 1.44, a quick ratio of 0.88 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $24.75 billion, a PE ratio of 10.54 and a beta of 0.73. Archer-Daniels-Midland has a 1 year low of $48.92 and a 1 year high of $77.35.

Archer-Daniels-Midland Dividend Announcement

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

Wall Street Analyst Weigh In

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

Insider Activity at Archer-Daniels-Midland

In other Archer-Daniels-Midland news, CEO Juan R. Luciano sold 45,471 shares of the company’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $61.00, for a total transaction of $2,773,731.00. Following the sale, the chief executive officer now owns 265,210 shares in the company, valued at $16,177,810. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Archer-Daniels-Midland news, CEO Juan R. Luciano sold 45,471 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $61.00, for a total transaction of $2,773,731.00. Following the completion of the transaction, the chief executive officer now owns 265,210 shares in the company, valued at $16,177,810. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Juan R. Luciano sold 170,194 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $60.51, for a total transaction of $10,298,438.94. Following the completion of the sale, the chief executive officer now directly owns 265,210 shares in the company, valued at approximately $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. Over the last three months, insiders sold 219,348 shares of company stock worth $13,296,833. Company insiders own 1.20% of the company’s stock.

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.