Investors Purchase High Volume of Put Options on Archer Daniels Midland Company (ADM)
Archer Daniels Midland Company (NYSE:ADM) was the recipient of some unusual options trading activity on Wednesday. Investors acquired 7,124 put options on the company, American Banking News.com reports. This is an increase of 824% compared to the typical daily volume of 771 put options.
Several analysts have recently commented on the stock. 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 equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $50.00.
Archer Daniels Midland Company (NYSE:ADM) traded down 0.26% during mid-day trading on Wednesday, hitting $49.93. The stock had a trading volume of 3,214,251 shares. Archer Daniels Midland Company has a one year low of $35.44 and a one year high of $50.56. The stock’s 50-day moving average is $48.68 and its 200-day moving average is $44.92. The company has a market cap of $32.231 billion and a price-to-earnings ratio of 20.10.
Archer Daniels Midland Company (NYSE:ADM) last posted its quarterly earnings results 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. Analysts expect that Archer Daniels Midland Company will post $3.05 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Thursday, September 11th. Stockholders 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.
Archer-Daniels-Midland-Company is engaged in the processing of oilseeds, corn, wheat, cocoa, and other agricultural commodities.
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