Archer Daniels Midland (ADM) Posts Quarterly Results
Archer Daniels Midland (NYSE:ADM) posted its quarterly earnings results on Tuesday. The company reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by $0.19, Analyst Ratings.Net reports. The company had revenue of $20.70 billion for the quarter, compared to the consensus estimate of $22.04 billion.
Shares of Archer Daniels Midland (NYSE:ADM) opened at 44.38 on Tuesday. Archer Daniels Midland has a 52 week low of $31.90 and a 52 week high of $45.40. The stock’s 50-day moving average is $43. and its 200-day moving average is $41.53. The company has a market cap of $29.219 billion and a price-to-earnings ratio of 21.99.
A number of analysts have recently weighed in on ADM shares. Analysts at Citigroup Inc. raised their price target on shares of Archer Daniels Midland from $5.00 to $50.00 in a research note on Friday, April 4th. They now have a “buy” rating on the stock. On the ratings front, analysts at BMO Capital Markets upgraded shares of Archer Daniels Midland from a “market perform” rating to an “outperform” rating in a research note on Monday, March 10th. They now have a $50.00 price target on the stock, up previously from $42.00. Finally, analysts at Zacks upgraded shares of Archer Daniels Midland from a “neutral” rating to an “outperform” rating in a research note on Wednesday, February 12th. They now have a $45.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $40.31.
In other Archer Daniels Midland news, SVP Mark Bemis unloaded 19,968 shares of Archer Daniels Midland stock on the open market in a transaction dated Wednesday, April 16th. The shares were sold at an average price of $45.01, for a total transaction of $898,759.68. Following the sale, the senior vice president now directly owns 120,577 shares in the company, valued at approximately $5,427,171. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Archer-Daniels-Midland-Company, is engaged in the processing of oilseeds, corn, wheat, cocoa, and other agricultural commodities.
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