Archer Daniels Midland Company Assigned BBB+ Credit Rating by Morningstar (ADM)
Archer Daniels Midland Company (NYSE:ADM) has earned a “BBB+” credit rating from Morningstar. The credit rating agency’s “BBB+” rating indicates that the company is a moderate default risk. They also issued a positive credit outlook for the company and gave their stock a three star rating.
A number of other firms have also recently commented on ADM. Analysts at Argus raised their price target on shares of Archer Daniels Midland Company from $49.00 to $57.00 in a research note on Wednesday, August 20th. They now have a “buy” rating on the stock. Separately, analysts at Zacks reiterated an “outperform” rating on shares of Archer Daniels Midland Company in a research note on Thursday, August 14th. They now have a $60.00 price target on the stock. Finally, 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. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Archer Daniels Midland Company has a consensus rating of “Buy” and an average target price of $50.00.
Archer Daniels Midland Company (NYSE:ADM) opened at 49.86 on Tuesday. Archer Daniels Midland Company has a 52 week low of $35.30 and a 52 week high of $50.30. The stock has a 50-day moving average of $48.60 and a 200-day moving average of $44.76. The company has a market cap of $32.186 billion and a P/E ratio of 19.98.
Archer Daniels Midland Company (NYSE:ADM) last released its earnings data on Tuesday, August 5th. The company reported $0.77 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.46 earnings per share. Archer Daniels Midland Company’s revenue was down 4.6% compared to the same quarter last year. Analysts expect that Archer Daniels Midland Company will post $3.05 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, September 11th. Investors of record on Thursday, August 21st will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 1.93%. The ex-dividend date of this dividend is Tuesday, August 19th.
In other Archer Daniels Midland Company news, SVP Joseph D. Taets sold 14,690 shares of the company’s stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $49.90, for a total transaction of $733,031.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Archer-Daniels-Midland-Company is engaged in the processing of oilseeds, corn, wheat, cocoa, and other agricultural commodities.
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