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Archer Daniels Midland (ADM) Ascends While Market Falls: Some Facts to Note
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In the latest market close, Archer Daniels Midland (ADM - Free Report) reached $62.60, with a +1.43% movement compared to the previous day. The stock outperformed the S&P 500, which registered a daily loss of 0.88%. On the other hand, the Dow registered a gain of 0.56%, and the technology-centric Nasdaq decreased by 2.05%.
Prior to today's trading, shares of the agribusiness giant had lost 1.2% over the past month. This has was narrower than the Consumer Staples sector's loss of 3.55% and the S&P 500's loss of 2.57% in that time.
The investment community will be paying close attention to the earnings performance of Archer Daniels Midland in its upcoming release. The company is slated to reveal its earnings on April 30, 2024. In that report, analysts expect Archer Daniels Midland to post earnings of $1.35 per share. This would mark a year-over-year decline of 35.41%. Meanwhile, our latest consensus estimate is calling for revenue of $22.3 billion, down 7.38% from the prior-year quarter.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $5.50 per share and a revenue of $90.32 billion, representing changes of -21.2% and -3.85%, respectively, from the prior year.
Any recent changes to analyst estimates for Archer Daniels Midland should also be noted by investors. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, there's been a 1.35% fall in the Zacks Consensus EPS estimate. Archer Daniels Midland is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, Archer Daniels Midland currently has a Forward P/E ratio of 11.22. This denotes a discount relative to the industry's average Forward P/E of 22.39.
The Agriculture - Operations industry is part of the Consumer Staples sector. This industry currently has a Zacks Industry Rank of 191, which puts it in the bottom 25% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Archer Daniels Midland (ADM) Ascends While Market Falls: Some Facts to Note
In the latest market close, Archer Daniels Midland (ADM - Free Report) reached $62.60, with a +1.43% movement compared to the previous day. The stock outperformed the S&P 500, which registered a daily loss of 0.88%. On the other hand, the Dow registered a gain of 0.56%, and the technology-centric Nasdaq decreased by 2.05%.
Prior to today's trading, shares of the agribusiness giant had lost 1.2% over the past month. This has was narrower than the Consumer Staples sector's loss of 3.55% and the S&P 500's loss of 2.57% in that time.
The investment community will be paying close attention to the earnings performance of Archer Daniels Midland in its upcoming release. The company is slated to reveal its earnings on April 30, 2024. In that report, analysts expect Archer Daniels Midland to post earnings of $1.35 per share. This would mark a year-over-year decline of 35.41%. Meanwhile, our latest consensus estimate is calling for revenue of $22.3 billion, down 7.38% from the prior-year quarter.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $5.50 per share and a revenue of $90.32 billion, representing changes of -21.2% and -3.85%, respectively, from the prior year.
Any recent changes to analyst estimates for Archer Daniels Midland should also be noted by investors. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, there's been a 1.35% fall in the Zacks Consensus EPS estimate. Archer Daniels Midland is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, Archer Daniels Midland currently has a Forward P/E ratio of 11.22. This denotes a discount relative to the industry's average Forward P/E of 22.39.
The Agriculture - Operations industry is part of the Consumer Staples sector. This industry currently has a Zacks Industry Rank of 191, which puts it in the bottom 25% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.