Archer-Daniels-Midland (NYSE:ADM) Releases Q3 Earnings Guidance

Archer-Daniels-Midland (NYSE:ADM) updated its third quarter earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $1.09 for the period, compared to the consensus estimate of $1.24. Archer-Daniels-Midland also updated its FY 2024 guidance to 4.500-5.000 EPS.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Citigroup dropped their price objective on Archer-Daniels-Midland from $64.00 to $63.00 and set a “neutral” rating on the stock in a report on Monday, July 15th. UBS Group lifted their target price on Archer-Daniels-Midland from $60.00 to $64.00 and gave the stock a “neutral” rating in a research report on Monday, September 9th. Finally, JPMorgan Chase & Co. lifted their target price 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 analyst has rated the stock with a sell rating and thirteen have issued a hold rating to the stock. Based on data from MarketBeat.com, Archer-Daniels-Midland has an average rating of “Hold” and a consensus target price of $63.82.

Archer-Daniels-Midland Stock Performance

NYSE:ADM traded up $1.26 during midday trading on Wednesday, reaching $53.26. 5,031,790 shares of the company traded hands, compared to its average volume of 4,276,077. Archer-Daniels-Midland has a twelve month low of $48.92 and a twelve month high of $77.35. The firm has a market capitalization of $25.47 billion, a price-to-earnings ratio of 10.69 and a beta of 0.73. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.44 and a quick ratio of 0.88. The company has a fifty day moving average price of $58.40 and a 200 day moving average price of $60.19.

Insider Activity at Archer-Daniels-Midland

In related news, CEO Juan R. Luciano sold 45,471 shares of the business’s stock in a transaction that occurred on 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 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 document filed with the SEC, which is available through this hyperlink. In other Archer-Daniels-Midland news, CEO Juan R. Luciano sold 45,471 shares of the business’s stock in a transaction on 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 completion of the transaction, the chief executive officer now owns 265,210 shares in the company, valued at approximately $16,177,810. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Juan R. Luciano sold 170,194 shares of the business’s stock in a transaction 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 transaction, the chief executive officer now owns 265,210 shares of the company’s stock, valued at $16,047,857.10. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 219,348 shares of company stock worth $13,296,833 in the last 90 days. 1.20% of the stock is currently owned by company insiders.

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.