$15.64 Billion in Sales Expected for Archer Daniels Midland Co (ADM) This Quarter

Wall Street brokerages forecast that Archer Daniels Midland Co (NYSE:ADM) will post $15.64 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Archer Daniels Midland’s earnings, with estimates ranging from $15.45 billion to $15.84 billion. Archer Daniels Midland posted sales of $14.83 billion in the same quarter last year, which would indicate a positive year over year growth rate of 5.5%. The company is scheduled to report its next earnings results on Tuesday, October 30th.

According to Zacks, analysts expect that Archer Daniels Midland will report full year sales of $64.40 billion for the current year, with estimates ranging from $63.30 billion to $65.56 billion. For the next year, analysts expect that the firm will report sales of $65.81 billion, with estimates ranging from $64.64 billion to $66.59 billion. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Archer Daniels Midland.

Archer Daniels Midland (NYSE:ADM) last issued its earnings results on Tuesday, July 31st. The company reported $1.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.25. The business had revenue of $17.07 billion for the quarter, compared to analyst estimates of $15.48 billion. Archer Daniels Midland had a net margin of 3.05% and a return on equity of 9.19%. The company’s revenue for the quarter was up 14.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.57 EPS.

A number of equities research analysts have recently issued reports on ADM shares. Stephens restated an “overweight” rating on shares of Archer Daniels Midland in a research note on Thursday, August 16th. Morgan Stanley upped their target price on shares of Archer Daniels Midland from $33.00 to $50.00 and gave the company an “equal weight” rating in a research note on Friday, August 3rd. Buckingham Research upped their target price on shares of Archer Daniels Midland from $53.00 to $57.00 and gave the company a “buy” rating in a research note on Wednesday, August 1st. JPMorgan Chase & Co. upgraded shares of Archer Daniels Midland from an “underweight” rating to a “neutral” rating and upped their target price for the company from $42.00 to $48.00 in a research note on Monday, July 9th. Finally, BMO Capital Markets upped their target price on shares of Archer Daniels Midland from $45.00 to $50.00 and gave the company a “market perform” rating in a research note on Wednesday, August 1st. Nine investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $47.62.

In related news, SVP Ambrose Michael D sold 100,151 shares of the business’s stock in a transaction dated Wednesday, August 1st. The shares were sold at an average price of $48.34, for a total transaction of $4,841,299.34. Following the completion of the sale, the senior vice president now owns 234,053 shares of the company’s stock, valued at approximately $11,314,122.02. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Joseph D. Taets sold 2,153 shares of the business’s stock in a transaction dated Monday, August 27th. The shares were sold at an average price of $51.00, for a total transaction of $109,803.00. Following the sale, the insider now directly owns 169,213 shares of the company’s stock, valued at approximately $8,629,863. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 122,018 shares of company stock valued at $5,926,840. Insiders own 0.94% of the company’s stock.

Several large investors have recently made changes to their positions in the stock. Visionary Asset Management Inc. grew its position in shares of Archer Daniels Midland by 10.8% during the 3rd quarter. Visionary Asset Management Inc. now owns 68,041 shares of the company’s stock valued at $3,420,000 after buying an additional 6,643 shares during the last quarter. Fox Run Management L.L.C. grew its position in shares of Archer Daniels Midland by 100.3% during the 3rd quarter. Fox Run Management L.L.C. now owns 9,889 shares of the company’s stock valued at $497,000 after buying an additional 4,952 shares during the last quarter. Clarus Wealth Advisors grew its position in Archer Daniels Midland by 597.4% in the 3rd quarter. Clarus Wealth Advisors now owns 3,822 shares of the company’s stock worth $192,000 after purchasing an additional 3,274 shares during the last quarter. United Services Automobile Association grew its position in Archer Daniels Midland by 5.8% in the 2nd quarter. United Services Automobile Association now owns 301,649 shares of the company’s stock worth $13,825,000 after purchasing an additional 16,463 shares during the last quarter. Finally, Old Port Advisors bought a new position in Archer Daniels Midland in the 2nd quarter worth about $1,016,000. 75.83% of the stock is owned by institutional investors and hedge funds.

Shares of Archer Daniels Midland stock opened at $51.07 on Monday. The stock has a market capitalization of $28.14 billion, a PE ratio of 21.02 and a beta of 1.04. The company has a current ratio of 1.59, a quick ratio of 0.91 and a debt-to-equity ratio of 0.32. Archer Daniels Midland has a 1 year low of $38.59 and a 1 year high of $51.11.

About Archer Daniels Midland

Archer-Daniels-Midland Company procures, transports, stores, processes, and merchandises agricultural commodities, products, and ingredients in the United States and internationally. It operates through four segments: Carbohydrate Solutions, Nutrition, Oilseeds, and Origination. The company offers oilseeds, corn, wheat, milo, oats, rice, and barley; and structured trade finance, as well as processes wheat into wheat flour.

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