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Tag: ADM

  • Archer-Daniels-Midland (NYSE:ADM) Price Target Cut to $66.00 by Analysts at BMO Capital Markets

    Archer-Daniels-Midland (NYSE:ADM) Price Target Cut to $66.00 by Analysts at BMO Capital Markets

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    Archer-Daniels-Midland (NYSE:ADM – Get Free Report) had its target price decreased by equities research analysts at BMO Capital Markets from $80.00 to $66.00 in a report issued on Monday, Benzinga reports. The firm currently has a “market perform” rating on the stock. BMO Capital Markets’ target price suggests a potential downside of 3.21% from the company’s current price.

    Several other brokerages have also weighed in on ADM. Stephens decreased their price objective on Archer-Daniels-Midland from $80.00 to $75.00 and set an “equal weight” rating for the company in a report on Wednesday, October 25th. UBS Group cut their price objective on shares of Archer-Daniels-Midland from $115.00 to $104.00 and set a “buy” rating for the company in a report on Wednesday, December 20th. The Goldman Sachs Group lowered Archer-Daniels-Midland from a “buy” rating to a “neutral” rating and cut their price target for the stock from $90.00 to $67.00 in a report on Monday. Morgan Stanley dropped their price objective on Archer-Daniels-Midland from $87.00 to $76.00 and set an “equal weight” rating on the stock in a report on Monday, October 30th. Finally, JPMorgan Chase & Co. decreased their price target on Archer-Daniels-Midland from $77.00 to $75.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 25th. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Archer-Daniels-Midland currently has a consensus rating of “Hold” and a consensus price target of $80.60.

    Get Our Latest Report on ADM

    Archer-Daniels-Midland Trading Down 0.8 %

    NYSE ADM opened at $68.19 on Monday. The stock has a market capitalization of $36.37 billion, a price-to-earnings ratio of 9.50 and a beta of 0.78. The business’s fifty day moving average is $72.61 and its 200-day moving average is $76.35. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.69 and a quick ratio of 1.07. Archer-Daniels-Midland has a one year low of $68.00 and a one year high of $87.30.

    Archer-Daniels-Midland (NYSE:ADM – Get Free Report) last released its earnings results on Tuesday, October 24th. The company reported $1.63 earnings per share for the quarter, beating analysts’ consensus estimates of $1.53 by $0.10. The firm had revenue of $21.70 billion for the quarter, compared to analysts’ expectations of $23.69 billion. Archer-Daniels-Midland had a net margin of 4.05% and a return on equity of 16.63%. The company’s quarterly revenue was down 12.1% on a year-over-year basis. During the same period in the previous year, the company earned $1.86 earnings per share. Equities research analysts predict that Archer-Daniels-Midland will post 7.25 EPS for the current year.

    Institutional Trading of Archer-Daniels-Midland

    Hedge funds have recently modified their holdings of the business. PCA Investment Advisory Services Inc. purchased a new position in Archer-Daniels-Midland during the 2nd quarter valued at about $25,000. Orion Capital Management LLC bought a new position in shares of Archer-Daniels-Midland during the third quarter valued at approximately $28,000. Tompkins Financial Corp bought a new stake in shares of Archer-Daniels-Midland in the 3rd quarter worth approximately $28,000. Legacy Financial Group LLC purchased a new stake in shares of Archer-Daniels-Midland in the 3rd quarter worth approximately $30,000. Finally, Operose Advisors LLC bought a new position in Archer-Daniels-Midland during the 3rd quarter valued at approximately $30,000. Institutional investors own 77.73% of the company’s stock.

    About Archer-Daniels-Midland

    (Get Free Report)

    Archer-Daniels-Midland Company procures, transports, stores, processes, and merchandises agricultural commodities, products, and ingredients in the United States, Switzerland, the Cayman Islands, Brazil, Mexico, Canada, the United Kingdom, and internationally. The company operates in three segments: Ag Services and Oilseeds, Carbohydrate Solutions, and Nutrition.

    See Also

    Analyst Recommendations for Archer-Daniels-Midland (NYSE:ADM)

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  • U.S. stocks climb as GDP report shows economy taking Fed’s rate hikes in stride

    U.S. stocks climb as GDP report shows economy taking Fed’s rate hikes in stride

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    U.S. stocks opened higher on Thursday as optimism over Tesla’s earnings results and a stronger-than-expected GDP report left investors in a better mood following Wednesday’s intraday selloff.

    How are stocks trading
    • The S&P 500
      SPX,
      +0.40%
      rose by 34 points, or 0.8%, to 4,049.

    • Dow Jones Industrial Average
      DJIA,
      +0.05%
      gained 145 points, or 0.4%, to 33,889.

    • Nasdaq Composite
      COMP,
      +0.89%
      advanced 174 points, or 1.5%, to 11,487.

    The Dow Jones Industrial Average finished Wednesday’s session up 10 points after falling roughly 400 points at the lows earlier in the session. The S&P 500 finished little-changed after erasing its early losses, while the Nasdaq ended lower.

    What’s driving markets

    Stocks opened higher after a flurry of economic data including a fourth quarter GDP report that came in stronger than expected, but the focus was on the latest batch of earnings, which helped to revive investors’ optimism following disappointing guidance from Microsoft Corp.
    MSFT,
    +1.35%
    earlier in the week.

    The economy grew at a robust 2.9% annual pace to close out 2022, according to the first estimate of fourth quarter GDP, released Thursday morning — the latest sign that the U.S. economy is holding up well despite the Federal Reserve’s aggressive interest-rate hikes.

    “Thursday’s GDP report suggests that the economy is relatively strong even in the face of aggressive measures by the Federal Reserve to calm inflation,” said Carol Schleif, chief investment officer, BMO Family Office, in emailed commentary.

    Stocks rose after the data were released as investors found solace in the latest signs that a soft landing for the U.S. economy — a scenario where growth slows, but a recession is avoided — remains possible, or even likely.

    “This is a bit of a relief rally,” said Christopher Zook, chairman and chief investment officer of CAZ Investments.

    However, corporate earnings and guidance are still the primary concern for investors, along with expectations about when the Federal Reserve will cut interest rates, Zook said.

    The labor market also showed signs of strength despite more reports of layoffs in the tech, finance and media spaces, as the number of Americans filing for unemployment benefits fell to their lowest level since April. Investors also digested durable goods orders for December. New home sales for December will be published at 10 a.m. ET.

    Investors also celebrated a surge in Tesla Inc.
    TSLA,
    +9.64%
    shares premarket after the firm released well-received results that showed record quarterly profits.

    Disappointing guidance from technology behemoth Microsoft had clobbered stocks on Wednesday as traders worried it signaled not just difficulties for the sector but also broadly worsening economic conditions.

    However, before the end of Wednesday’s session, Microsoft shares had recovered most of their 4.5% loss and the S&P 500 finished the session almost exactly where it began, according to data from FactSet.

    As for the Federal Reserve, the central bank is expected to slow the pace of interest rate hikes when it next week raises its policy rate by 25 basis points to a range of 4.5% to 4.75%.

    Companies announcing results on Thursday include: McDonald’s
    MCD,
    -0.28%    ,
    Intel
    INTC,
    -0.34%    ,
    Comcast
    CMCSA,
    +0.86%    ,
    Visa
    V,
    +0.15%    ,
    Dow
    DOW,
    -1.16%    ,
    Whirl pool
    WHR,
    -0.91%    ,
    Western Digital
    WDC,
    +3.72%
    and Northrop Grumman
    NOC,
    -0.90%    .

    Companies in focus

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