Archer Daniels Midland Company Receives Outperform Rating from Zacks (ADM)
Archer Daniels Midland Company (NYSE:ADM)‘s stock had its “outperform” rating restated by Zacks in a research note issued on Thursday. They currently have a $60.00 price objective on the stock. Zacks‘s price target points to a potential upside of 19.90% from the company’s current price.
Zacks’ analyst wrote, “Archer Daniels’ second-quarter 2014 earnings per share were impressive, increasing 67.4% year over year and surpassing the Zacks Consensus Estimate. The company gained by making the most of strong ethanol and oilseeds products demand as well as improvement in the U.S. grain export volumes. Further, we believe the company’s earnings benefited from cost containment efforts. We also perceive that Archer Daniels’ consistent focus on enhancing its processing capabilities and global footprint through strategic acquisitions and joint ventures bode well for future growth. Moreover, we are encouraged by its strong cash flow generation ability, which helps it to make investments toward the development of business while using the excess cash to enhance shareholder returns. Given the bullish aspects embedded in the stock, we maintain our Outperform recommendation.”
In other Archer Daniels Midland Company news, VP John P. Stott sold 13,652 shares of the company’s stock on the open market in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $50.01, for a total transaction of $682,736.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Archer Daniels Midland Company (NYSE:ADM) traded down 0.19% on Thursday, hitting $49.945. The stock had a trading volume of 1,441,294 shares. Archer Daniels Midland Company has a one year low of $34.21 and a one year high of $50.24. The stock has a 50-day moving average of $47.19 and a 200-day moving average of $43.9. The company has a market cap of $32.240 billion and a P/E ratio of 20.10.
Archer Daniels Midland Company (NYSE:ADM) last released its earnings data on Tuesday, August 5th. The company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.02. The company had revenue of $21.49 billion for the quarter, compared to the consensus estimate of $22.70 billion. During the same quarter in the previous year, the company posted $0.46 earnings per share. The company’s revenue for the quarter was down 4.6% on a year-over-year basis. On average, analysts predict that Archer Daniels Midland Company will post $3.03 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Thursday, September 11th. Shareholders of record on Thursday, August 21st will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date of this dividend is Tuesday, August 19th.
Other equities research analysts have also recently issued reports about the stock. Analysts at JPMorgan Chase & Co. raised their price target on shares of Archer Daniels Midland Company from $46.00 to $48.00 in a research note on Friday, July 18th. They now have a “neutral” rating on the stock. Separately, analysts at Citigroup Inc. reiterated a “buy” rating on shares of Archer Daniels Midland Company in a research note on Wednesday, July 9th. They now have a $53.00 price target on the stock, up previously from $50.00. Finally, analysts at Miller Tabak upgraded shares of Archer Daniels Midland Company from a “hold” rating to a “buy” rating in a research note on Monday, July 7th. Four equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $49.11.
Archer-Daniels-Midland-Company is engaged in the processing of oilseeds, corn, wheat, cocoa, and other agricultural commodities.
To view Zacks’ full report, visit Zacks’ official website.
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