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Archer Daniels Midland (ADM) Outpaces Stock Market Gains: What You Should Know
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In the latest trading session, Archer Daniels Midland (ADM - Free Report) closed at $74.52, marking a +1.64% move from the previous day. This change outpaced the S&P 500's 1.06% gain on the day. Elsewhere, the Dow saw an upswing of 0.93%, while the tech-heavy Nasdaq appreciated by 1.2%.
Coming into today, shares of the agribusiness giant had lost 7.6% in the past month. In that same time, the Consumer Staples sector lost 6.07%, while the S&P 500 lost 3%.
Investors will be eagerly watching for the performance of Archer Daniels Midland in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on October 24, 2023. The company's upcoming EPS is projected at $1.53, signifying a 17.74% drop compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $23.49 billion, down 4.82% from the prior-year quarter.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $7.18 per share and a revenue of $97.8 billion, representing changes of -8.54% and -3.98%, respectively, from the prior year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Archer Daniels Midland. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.12% decrease. Archer Daniels Midland is currently sporting a Zacks Rank of #3 (Hold).
From a valuation perspective, Archer Daniels Midland is currently exchanging hands at a Forward P/E ratio of 10.21. This expresses a discount compared to the average Forward P/E of 14.87 of its industry.
It's also important to note that ADM currently trades at a PEG ratio of 1.6. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Agriculture - Operations industry currently had an average PEG ratio of 1.29 as of yesterday's close.
The Agriculture - Operations industry is part of the Consumer Staples sector. This industry currently has a Zacks Industry Rank of 80, which puts it in the top 32% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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) Outpaces Stock Market Gains: What You Should Know
In the latest trading session, Archer Daniels Midland (ADM - Free Report) closed at $74.52, marking a +1.64% move from the previous day. This change outpaced the S&P 500's 1.06% gain on the day. Elsewhere, the Dow saw an upswing of 0.93%, while the tech-heavy Nasdaq appreciated by 1.2%.
Coming into today, shares of the agribusiness giant had lost 7.6% in the past month. In that same time, the Consumer Staples sector lost 6.07%, while the S&P 500 lost 3%.
Investors will be eagerly watching for the performance of Archer Daniels Midland in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on October 24, 2023. The company's upcoming EPS is projected at $1.53, signifying a 17.74% drop compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $23.49 billion, down 4.82% from the prior-year quarter.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $7.18 per share and a revenue of $97.8 billion, representing changes of -8.54% and -3.98%, respectively, from the prior year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Archer Daniels Midland. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.12% decrease. Archer Daniels Midland is currently sporting a Zacks Rank of #3 (Hold).
From a valuation perspective, Archer Daniels Midland is currently exchanging hands at a Forward P/E ratio of 10.21. This expresses a discount compared to the average Forward P/E of 14.87 of its industry.
It's also important to note that ADM currently trades at a PEG ratio of 1.6. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Agriculture - Operations industry currently had an average PEG ratio of 1.29 as of yesterday's close.
The Agriculture - Operations industry is part of the Consumer Staples sector. This industry currently has a Zacks Industry Rank of 80, which puts it in the top 32% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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.