ADM Reports Fourth Quarter Earnings and Full-Year 2023 Results; Provides 2024 Guidance

Archer Daniels Midland (ADM) PT Lowered to $71 at BofA Securities

BofA Securities analyst Steve Byrne lowered the price target on Archer Daniels Midland (NYSE: ADM) to $71.00 (from $85.00) while maintaining a Neutral rating.

The analyst comments "We maintain our Neutral rating as we balance ADMs undemanding valuation at ~10x 2024E EPS with earnings... More

Archer Daniels Midland (ADM) PT Lowered to $74 at Wolfe Research

Wolfe Research analyst Sam Margolin lowered the price target on Archer Daniels Midland (NYSE: ADM) to $74.00 (from $82.00) while maintaining a Outperform rating.

The analyst comments "As of 10/23, ADM shares are -22% YTD, tracking the Biofuels average -22%, but behind the XOP +9% and... More

Archer Daniels Midland (ADM) PT Lowered to $64 at Goldman Sachs

Goldman Sachs analyst Adam Samuelson lowered the price target on Archer Daniels Midland (NYSE: ADM) to $64.00 (from $67.00) while maintaining a Neutral rating.

The analyst comments "ADM shares outperformed the broader market today (ADM +3.9% vs. S&P +1.1%) after reporting 4Q23 results and an initial 2024 outlook broadly inline with incoming... More

Archer Daniels Midland (ADM) PT Raised to $58 at Stifel

Stifel analyst Vincent Anderson raised the price target on Archer Daniels Midland (NYSE: ADM) to $58.00 (from $56.00) while maintaining a Hold rating.

The analyst comments "We are updating our estimates for ADM following 4Q23 reporting. On net, our estimates are lowered for 2024 as a... More

CFRA Upgrades Archer Daniels Midland (ADM) to Buy

CFRA analyst Arun Sundaram upgraded Archer Daniels Midland (NYSE: ADM) from Hold to Buy with a price target of $67.00 (from $61.00).

The analyst comments "We lift our 12-month target by $6 to $67, 10.9x our 2024 adj-EPS of $6.13 (up from $6.10; 2025's set at $6.34) vs. the 14x long-term average forward P/E.... More

Archer Daniels Midland (ADM) misses earnings, revenue consensus estimates

Archer Daniels Midland (NYSE: ADM) reported fourth-quarter earnings that fell short of Wall Street expectations, with adjusted earnings per share (EPS) of $1.36 compared to the consensus estimate of $1.43. Revenue for the quarter was also below analyst forecasts, coming in at $22.98 billion against expectations of $23.64 billion. Despite the miss, the company's stock climbed 3.44%.

The agribusiness giant provided full-year 2024 adjusted EPS guidance in the range of $5.25 to $6.25, with the midpoint below the consensus estimate of $5.87. This projection reflects an 18% decrease at the midpoint from the company's 2023 performance, attributing the expected... More

Archer Daniels Midland (ADM) Misses Q4 EPS by 7c

(Updated - March 12, 2024 7:09 AM EDT)

Archer Daniels Midland (NYSE: ADM) reported Q4 EPS of $1.36, worse than the analyst estimate of $1.43. Revenue for the quarter came in at $22.98 billion versus the consensus estimate of $23.64 billion.

GUIDANCE:

Archer Daniels Midland sees FY2024 EPS of $5.25-$6.25, versus the consensus of... More