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Why the Market Dipped But Archer Daniels Midland (ADM) Gained Today
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The most recent trading session ended with Archer Daniels Midland (ADM - Free Report) standing at $62.65, reflecting a +0.69% shift from the previouse trading day's closing. The stock outpaced the S&P 500's daily loss of 2.32%. Elsewhere, the Dow saw a downswing of 1.25%, while the tech-heavy Nasdaq depreciated by 3.64%.
Prior to today's trading, shares of the agribusiness giant had gained 2.59% over the past month. This has outpaced the Consumer Staples sector's gain of 1% and the S&P 500's gain of 1.79% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Archer Daniels Midland in its upcoming earnings disclosure. The company's earnings report is set to go public on July 30, 2024. In that report, analysts expect Archer Daniels Midland to post earnings of $1.29 per share. This would mark a year-over-year decline of 31.75%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $23.24 billion, down 7.75% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $5.56 per share and a revenue of $89.18 billion, representing changes of -20.34% and -5.06%, respectively, from the prior year.
Any recent changes to analyst estimates for Archer Daniels Midland should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.02% lower. Right now, Archer Daniels Midland possesses a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Archer Daniels Midland has a Forward P/E ratio of 11.19 right now. This signifies a discount in comparison to the average Forward P/E of 16.34 for its industry.
The Agriculture - Operations industry is part of the Consumer Staples sector. This industry currently has a Zacks Industry Rank of 88, which puts it in the top 35% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow ADM in the coming trading sessions, be sure to utilize Zacks.com.
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Why the Market Dipped But Archer Daniels Midland (ADM) Gained Today
The most recent trading session ended with Archer Daniels Midland (ADM - Free Report) standing at $62.65, reflecting a +0.69% shift from the previouse trading day's closing. The stock outpaced the S&P 500's daily loss of 2.32%. Elsewhere, the Dow saw a downswing of 1.25%, while the tech-heavy Nasdaq depreciated by 3.64%.
Prior to today's trading, shares of the agribusiness giant had gained 2.59% over the past month. This has outpaced the Consumer Staples sector's gain of 1% and the S&P 500's gain of 1.79% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Archer Daniels Midland in its upcoming earnings disclosure. The company's earnings report is set to go public on July 30, 2024. In that report, analysts expect Archer Daniels Midland to post earnings of $1.29 per share. This would mark a year-over-year decline of 31.75%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $23.24 billion, down 7.75% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $5.56 per share and a revenue of $89.18 billion, representing changes of -20.34% and -5.06%, respectively, from the prior year.
Any recent changes to analyst estimates for Archer Daniels Midland should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.02% lower. Right now, Archer Daniels Midland possesses a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Archer Daniels Midland has a Forward P/E ratio of 11.19 right now. This signifies a discount in comparison to the average Forward P/E of 16.34 for its industry.
The Agriculture - Operations industry is part of the Consumer Staples sector. This industry currently has a Zacks Industry Rank of 88, which puts it in the top 35% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow ADM in the coming trading sessions, be sure to utilize Zacks.com.