Archer Daniels Midland Co. [NYSE: ADM] closed the trading session at $60.41. The company report on March 13, 2024 at 7:00 AM that ADM Announces $1 Billion Accelerated Share Repurchase Agreement.
ADM (NYSE: ADM) today announced that it has entered into an accelerated share repurchase (ASR) agreement with delayed share delivery with Merrill Lynch International, an affiliate of BofA Securities, Inc., to repurchase $1 billion of ADM’s common stock.
“We finished 2023 with strong momentum in terms of returning cash to our shareholders, and we will continue to prioritize shareholders in our cash deployment in 2024,” Board Chair and CEO Juan Luciano said. “After repurchasing $1.5 billion of shares in Q4 2023 and nearly $330 million of shares so far in Q1 2024, we are accelerating our program, with an intention to actualize $2 billion of additional share repurchases during the remainder of the year, including $1 billion of which will be executed through this accelerated share repurchase program, which runs through the second quarter.”.
The stocks have a year to date performance of -16.35 percent and weekly performance of 10.02 percent. The stock has been moved at -23.87 percent over the last six months. The stock has performed 11.23 percent around the most recent 30 days and changed -20.95 percent over the most recent 3-months.
If compared to the average trading volume of 6.45M shares, ADM reached to a volume of 7265793 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to say about Archer Daniels Midland Co. [ADM]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ADM shares is $63.50 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ADM stock is a recommendation set at 2.94. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Citigroup have made an estimate for Archer Daniels Midland Co. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on February 01, 2024. The new note on the price target was released on January 23, 2024, representing the official price target for Archer Daniels Midland Co. stock. Previously, the target price had yet another drop from $116 to $56, while Stifel kept a Hold rating on ADM stock. On January 22, 2024, analysts decreased their price target for ADM shares from 98 to 66.
The Average True Range (ATR) for Archer Daniels Midland Co. is set at 1.63, with the Price to Sales ratio for ADM stock in the period of the last 12 months amounting to 0.33. The Price to Book ratio for the last quarter was 1.28, with the Price to Cash per share for the same quarter was set at 10.57. Price to Free Cash Flow for ADM in the course of the last twelve months was 10.38 with Quick ratio for the last quarter at 0.95.
ADM stock trade performance evaluation
Archer Daniels Midland Co. [ADM] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 10.02. With this latest performance, ADM shares gained by 11.23% in over the last four-week period, additionally sinking by -23.87% over the last 6 months – not to mention a drop of -21.00% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ADM stock in for the last two-week period is set at 70.64, with the RSI for the last a single of trading hit 84.07, and the three-weeks RSI is set at 60.37 for Archer Daniels Midland Co. [ADM]. The present Moving Average for the last 50 days of trading for this stock 57.32, while it was recorded at 58.65 for the last single week of trading, and 71.69 for the last 200 days.
Archer Daniels Midland Co. [ADM]: An insightful look at the core fundamentals
Archer Daniels Midland Co.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.95 and a Current Ratio set at 1.60.
Earnings per share (EPS) analysis for Archer Daniels Midland Co. [ADM] stock
With the latest financial reports released by the company, Archer Daniels Midland Co. posted 2.09/share EPS, while the average EPS was predicted by analysts to be reported at 1.78/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 17.40%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for ADM. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Archer Daniels Midland Co. go to -1.40%.
Archer Daniels Midland Co. [ADM]: Institutional Ownership
The top three institutional holders of ADM stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in ADM stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in ADM stock with ownership which is approximately 5.8325%.
