• Sat. Sep 24th, 2022

Seaport Res Ptn Comments on Archer-Daniels-Midland Company’s (NYSE:ADM) Third Quarter 2022 Results

ByMary M. Ward

Apr 29, 2022

Archer-Daniels-Midland Company (NYSE: SMAGet a rating) – Equity researchers at Seaport Res Ptn raised their third quarter 2022 earnings per share (EPS) estimates for Archer-Daniels-Midland in a research note released to investors on Wednesday, April 27. Seaport Res Ptn analyst E. Larson now expects the company to earn $1.20 per share for the quarter, up from his previous forecast of $1.07. Seaport Res Ptn also released Archer-Daniels-Midland Q2 2023 earnings estimates at $1.21 EPS, Q4 2023 earnings at $1.44 EPS and FY2023 earnings at $5. $81 EPS.

Other equity research analysts have also recently published research reports on the stock. Goldman Sachs Group raised its price target on Archer-Daniels-Midland shares from $79.00 to $91.00 and gave the stock a “buy” rating in a Wednesday 16 research note. March. Zacks Investment Research downgraded Archer-Daniels-Midland shares from a “buy” rating to a “hold” rating and set a target price of $98.00 for the company. in a research note from Tuesday, March 29. JPMorgan Chase & Co. issued a hedge on Archer-Daniels-Midland shares in a Wednesday, January 12 research note. They set a “holding” rating and a target price of $74.00 for the company. Morgan Stanley raised its price target on Archer-Daniels-Midland shares from $67.00 to $69.00 and gave the stock an “equal weight” rating in a Tuesday 11 research note. january. Finally, Robert W. Baird raised his target price on Archer-Daniels-Midland shares from $73.00 to $108.00 in a research note on Wednesday. Seven research analysts gave the stock a hold rating and four gave the company a buy rating. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $84.38.

NYSE ADM opened at $92.51 on Friday. The company has a debt ratio of 0.36, a current ratio of 1.45 and a quick ratio of 0.79. Archer-Daniels-Midland has a 1-year low of $56.91 and a 1-year high of $98.88. The company has a market capitalization of $52.03 billion, a PE ratio of 19.31, a P/E/G ratio of 3.23 and a beta of 0.79. The company has a fifty-day moving average of $87.76 and a two-hundred-day moving average of $74.79.

Archer-Daniels-Midland (NYSE: SMAGet a rating) last released its quarterly earnings data on Tuesday, April 26. The company reported earnings per share (EPS) of $1.90 for the quarter, beating the consensus estimate of $1.41 by $0.49. Archer-Daniels-Midland had a net margin of 3.18% and a return on equity of 13.50%. The company posted revenue of $23.65 billion in the quarter, versus a consensus estimate of $20.61 billion. In the same quarter a year earlier, the company posted earnings per share of $1.39. Archer-Daniels-Midland revenue for the quarter increased 25.2% year-over-year.

Separately, SVP Gregory A. Morris sold 20,000 shares in a trade on Friday, March 18. The shares were sold at an average price of $83.37, for a total value of $1,667,400.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, accessible via this hyperlink. Also, please Christopher M. Cuddy sold 40,101 shares of Archer-Daniels-Midland in a trade on Wednesday, February 9. The shares were sold at an average price of $77.49, for a total transaction of $3,107,426.49. Disclosure of this sale can be found here. In the past ninety days, insiders have sold 576,726 shares of the company worth $43,834,804. 1.20% of the shares are currently held by insiders.

Institutional investors and hedge funds have recently increased or reduced their stakes in the stock. Raymond James Financial Services Advisors Inc. raised its position in Archer-Daniels-Midland shares by 10.0% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 126,564 shares of the company valued at $7,595,000 after purchasing an additional 11,539 shares last quarter. Dupont Capital Management Corp raised its position in Archer-Daniels-Midland shares by 34.8% in the third quarter. Dupont Capital Management Corp now owns 2,767 shares of the company valued at $166,000 after buying an additional 714 shares last quarter. Brookstone Capital Management acquired a new position in shares of Archer-Daniels-Midland in Q3 valued at approximately $228,000. The North Carolina State Treasurer increased its position in Archer-Daniels-Midland shares by 5.9% during the third quarter. The North Carolina State Treasurer now owns 208,829 shares of the company valued at $12,532,000 after acquiring 11,559 additional shares last quarter. Finally, Hancock Whitney Corp increased its position in Archer-Daniels-Midland shares by 49.5% during the third quarter. Hancock Whitney Corp now owns 31,848 shares of the company valued at $1,911,000 after acquiring an additional 10,540 shares last quarter. 75.59% of the shares are held by institutional investors and hedge funds.

About Archer-Daniels-Midland (Get a rating)

Archer-Daniels-Midland Company buys, transports, stores, processes and markets agricultural raw materials, products and ingredients in the United States, Switzerland, Cayman Islands, Brazil, Mexico, United Kingdom and the United States. ‘international. The Company operates through three segments: Agriculture and Oilseed Services, Carbohydrate Solutions and Nutrition.

See also

Earnings history and estimates for Archer-Daniels-Midland (NYSE:ADM)



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