Archer Daniels Midland Now Covered by Stifel Nicolaus (ADM)
Investment analysts at Stifel Nicolaus assumed coverage on shares of Archer Daniels Midland (NYSE:ADM) in a note issued to investors on Tuesday, TheFlyOnTheWall.com reports. The firm set a “hold” rating on the stock.
The analysts wrote, “We believe ADM is entering a more favorable operating environment in 2014, though in our opinion, the upside is already priced into the shares, given the stock’s YTD performance (+58.3% vs. the S&P 500 which was up 27.5% YTD).” Some notable points from the report included: -”We believe strong U.S. crop production and subsequently lower prices should boost processing margins by way of lower costs in 2014.” -”We see ADM’s global footprint as a significant asset, which we believe will allow the company to source crops from surplus producing countries and deliver to countries unable/unwilling to meet demand with domestic production.” -”ADM is currently trading at 8.3x our 2014 EBITDA estimate, which we believe is close to previous peak year valuations.” -”We estimate 4Q13 EPS of $0.86 (vs. the Street consensus of $0.84) and EBITDA of $1.0 billion (vs. the Street consensus of $1.0 billion), resulting in full-year 2013 EPS of $2.27 (vs. the Street consensus of $2.25) and EBITDA of $3.1 billion (vs. the Street consensus of $3.2 billion).”
In other Archer Daniels Midland news, VP Vikram Luthar sold 2,615 shares of the stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $40.64, for a total transaction of $106,273.60. Following the transaction, the vice president now directly owns 31,257 shares in the company, valued at approximately $1,270,284. The sale was disclosed in a filing with the SEC, which is available at this link.
Shares of Archer Daniels Midland (NYSE:ADM) opened at 43.04 on Tuesday. Archer Daniels Midland has a 52 week low of $26.90 and a 52 week high of $43.94. The stock has a 50-day moving average of $41.49 and a 200-day moving average of $37.63. The company has a market cap of $28.319 billion and a P/E ratio of 19.29.
Archer Daniels Midland (NYSE:ADM) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $0.46 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.46. The company had revenue of $21.39 billion for the quarter, compared to the consensus estimate of $20.76 billion. During the same quarter in the prior year, the company posted $0.50 earnings per share. The company’s quarterly revenue was down 1.9% on a year-over-year basis. Analysts expect that Archer Daniels Midland will post $2.23 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Thursday, March 13th. Stockholders of record on Thursday, February 20th will be given a dividend of 0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 2.23%. The ex-dividend date of this dividend is Tuesday, February 18th. This is a boost from Archer Daniels Midland’s previous quarterly dividend of $0.19.
A number of other firms have also recently commented on ADM. Analysts at Macquarie initiated coverage on shares of Archer Daniels Midland in a research note to investors on Tuesday, December 17th. They set an “outperform” rating on the stock. Separately, analysts at Credit Suisse initiated coverage on shares of Archer Daniels Midland in a research note to investors on Monday, December 9th. They set a “neutral” rating and a $44.00 price target on the stock. Finally, analysts at Citigroup Inc. initiated coverage on shares of Archer Daniels Midland in a research note to investors on Monday, December 2nd. They set a “neutral” rating and a $35.00 price target on the stock. Seven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $37.88.
Archer-Daniels-Midland-Company, is engaged in the processing of oilseeds, corn, wheat, cocoa, and other agricultural commodities.
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