Archer-Daniels-Midland (ADM) to Release Quarterly Earnings on Tuesday

Archer-Daniels-Midland (NYSE:ADM) will post its quarterly earnings results before the market opens on Tuesday, April 23rd. Analysts expect the company to announce earnings of $1.35 per share for the quarter. Archer-Daniels-Midland has set its FY 2024 guidance at 5.250-6.250 EPS and its FY24 guidance at $5.25-6.25 EPS.Parties interested in listening to the company’s conference call can do so using this link.

Archer-Daniels-Midland (NYSE:ADM) last posted its earnings results on Tuesday, March 12th. The company reported $1.36 earnings per share for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.07). Archer-Daniels-Midland had a net margin of 3.71% and a return on equity of 15.25%. The company had revenue of $22.98 billion during the quarter, compared to the consensus estimate of $23.79 billion. During the same quarter in the prior year, the business earned $1.93 EPS. The firm’s revenue for the quarter was down 11.4% compared to the same quarter last year. On average, analysts expect Archer-Daniels-Midland to post $5 EPS for the current fiscal year and $6 EPS for the next fiscal year.

Archer-Daniels-Midland Price Performance

Archer-Daniels-Midland stock opened at $62.60 on Monday. The company’s 50 day moving average price is $58.28 and its two-hundred day moving average price is $65.55. The company has a quick ratio of 0.95, a current ratio of 1.60 and a debt-to-equity ratio of 0.34. Archer-Daniels-Midland has a 52 week low of $50.72 and a 52 week high of $87.30. The stock has a market cap of $31.41 billion, a P/E ratio of 9.78 and a beta of 0.77.

Archer-Daniels-Midland Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 29th. Shareholders of record on Thursday, February 8th were given a $0.50 dividend. The ex-dividend date of this dividend was Wednesday, February 7th. This is an increase from Archer-Daniels-Midland’s previous quarterly dividend of $0.45. This represents a $2.00 annualized dividend and a yield of 3.19%. Archer-Daniels-Midland’s dividend payout ratio (DPR) is presently 31.25%.

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

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. StockNews.com cut shares of Archer-Daniels-Midland from a “buy” rating to a “hold” rating in a research note on Monday, January 22nd. Roth Capital lowered Archer-Daniels-Midland from a “buy” rating to a “neutral” rating in a research note on Monday, January 22nd. Jefferies Financial Group decreased their price target on shares of Archer-Daniels-Midland from $70.00 to $65.00 and set a “hold” rating on the stock in a research note on Wednesday, March 13th. Barclays cut Archer-Daniels-Midland from an “overweight” rating to an “underweight” rating and set a $60.00 target price on the stock. in a report on Monday, January 22nd. Finally, Argus cut Archer-Daniels-Midland from a “buy” rating to a “hold” rating in a report on Tuesday, January 23rd. One investment 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, the company presently has an average rating of “Hold” and an average price target of $67.50.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ADM. Morgan Stanley boosted its stake in shares of Archer-Daniels-Midland by 9.2% during the fourth quarter. Morgan Stanley now owns 6,744,254 shares of the company’s stock valued at $626,204,000 after purchasing an additional 570,811 shares in the last quarter. Norges Bank bought a new stake in shares of Archer-Daniels-Midland in the 4th quarter valued at about $525,111,000. Macquarie Group Ltd. lifted its position in Archer-Daniels-Midland by 9.1% during the first quarter. Macquarie Group Ltd. now owns 5,626,231 shares of the company’s stock valued at $448,185,000 after acquiring an additional 467,243 shares during the last quarter. Legal & General Group Plc grew its holdings in Archer-Daniels-Midland by 17.1% in the fourth quarter. Legal & General Group Plc now owns 4,619,967 shares of the company’s stock worth $333,654,000 after purchasing an additional 675,034 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Archer-Daniels-Midland by 2.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 3,361,648 shares of the company’s stock worth $303,422,000 after purchasing an additional 95,442 shares in the last quarter. 78.28% of the stock is currently owned by institutional investors.

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.