Wall Street analysts predict that Archer Daniels Midland Co (NYSE:ADM) will post $15.92 billion in sales for the current quarter, Zacks reports. Two analysts have issued estimates for Archer Daniels Midland’s earnings. The lowest sales estimate is $15.45 billion and the highest is $16.40 billion. Archer Daniels Midland posted sales of $14.83 billion during the same quarter last year, which suggests a positive year over year growth rate of 7.3%. The company is scheduled to announce its next quarterly earnings results before the market opens on Tuesday, November 6th.
On average, analysts expect that Archer Daniels Midland will report full year sales of $64.70 billion for the current year, with estimates ranging from $63.30 billion to $66.47 billion. For the next financial year, analysts expect that the business will post sales of $67.07 billion, with estimates ranging from $66.21 billion to $67.92 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover Archer Daniels Midland.
Archer Daniels Midland (NYSE:ADM) last announced its quarterly earnings data on Tuesday, November 6th. The company reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.09. The company had revenue of $15.80 billion for the quarter, compared to analyst estimates of $15.72 billion. Archer Daniels Midland had a return on equity of 9.19% and a net margin of 3.05%. The firm’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.45 EPS.
A number of analysts have issued reports on ADM shares. Buckingham Research raised their target price on Archer Daniels Midland from $53.00 to $57.00 and gave the stock a “buy” rating in a research note on Wednesday, August 1st. Morgan Stanley raised their target price on Archer Daniels Midland from $33.00 to $50.00 and gave the stock an “equal weight” rating in a research note on Friday, August 3rd. Cleveland Research reaffirmed a “hold” rating on shares of Archer Daniels Midland in a research note on Monday, October 1st. BMO Capital Markets raised their target price on Archer Daniels Midland from $45.00 to $50.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 1st. Finally, JPMorgan Chase & Co. raised Archer Daniels Midland from an “underweight” rating to a “neutral” rating and raised their target price for the stock from $42.00 to $48.00 in a research note on Monday, July 9th. Eight investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $49.36.
ADM stock traded down $0.77 during midday trading on Thursday, reaching $47.33. The stock had a trading volume of 5,319,032 shares, compared to its average volume of 3,702,039. Archer Daniels Midland has a 52-week low of $38.59 and a 52-week high of $52.06. The firm has a market capitalization of $26.87 billion, a P/E ratio of 19.48 and a beta of 0.97. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.91 and a current ratio of 1.59.
In related news, insider Joseph D. Taets sold 2,153 shares of the firm’s stock in a transaction dated Monday, August 27th. The stock was sold at an average price of $51.00, for a total transaction of $109,803.00. Following the completion of the sale, the insider now directly owns 169,213 shares of the company’s stock, valued at approximately $8,629,863. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Joseph D. Taets sold 3,847 shares of the firm’s stock in a transaction dated Monday, August 20th. The stock was sold at an average price of $51.01, for a total value of $196,235.47. Following the sale, the senior vice president now directly owns 171,366 shares of the company’s stock, valued at $8,741,379.66. The disclosure for this sale can be found here. Insiders have sold a total of 8,500 shares of company stock valued at $436,038 over the last three months. Corporate insiders own 0.94% of the company’s stock.
Several large investors have recently modified their holdings of ADM. BlackRock Inc. increased its position in shares of Archer Daniels Midland by 8.7% during the 2nd quarter. BlackRock Inc. now owns 45,957,560 shares of the company’s stock worth $2,106,235,000 after purchasing an additional 3,694,727 shares during the last quarter. Northern Trust Corp increased its position in shares of Archer Daniels Midland by 13.1% during the 2nd quarter. Northern Trust Corp now owns 11,824,020 shares of the company’s stock worth $541,894,000 after purchasing an additional 1,369,242 shares during the last quarter. FMR LLC increased its position in shares of Archer Daniels Midland by 252.0% during the 2nd quarter. FMR LLC now owns 1,126,191 shares of the company’s stock worth $51,613,000 after purchasing an additional 806,287 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Archer Daniels Midland by 8.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 8,985,797 shares of the company’s stock worth $411,820,000 after purchasing an additional 683,457 shares during the last quarter. Finally, NN Investment Partners Holdings N.V. increased its position in shares of Archer Daniels Midland by 268.0% during the 3rd quarter. NN Investment Partners Holdings N.V. now owns 777,487 shares of the company’s stock worth $39,084,000 after purchasing an additional 566,200 shares during the last quarter. 76.07% of the stock is owned by hedge funds and other institutional investors.
Archer Daniels Midland Company Profile
Archer-Daniels-Midland Company procures, transports, stores, processes, and merchandises agricultural commodities, products, and ingredients in the United States and internationally. It operates through four segments: Carbohydrate Solutions, Nutrition, Oilseeds, and Origination. The company offers oilseeds, corn, wheat, milo, oats, rice, and barley; and structured trade finance, as well as processes wheat into wheat flour.
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