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In the latest trading session, Archer Daniels Midland (ADM - Free Report) closed at $60.10, marking a -1.48% move from the previous day. The stock's change was less than the S&P 500's daily gain of 1.02%. On the other hand, the Dow registered a gain of 0.4%, and the technology-centric Nasdaq increased by 2.03%.
The agribusiness giant's stock has dropped by 2.88% in the past month, falling short of the Consumer Staples sector's loss of 0.18% and outpacing the S&P 500's loss of 3.15%.
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 April 30, 2024. The company's upcoming EPS is projected at $1.35, signifying a 35.41% drop compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $22.4 billion, indicating a 6.96% downward movement from the same quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $5.48 per share and revenue of $90.37 billion, indicating changes of -21.49% and -3.79%, respectively, compared to the previous 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. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 1.66% lower. Archer Daniels Midland is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note Archer Daniels Midland's current valuation metrics, including its Forward P/E ratio of 11.12. This denotes a discount relative to the industry's average Forward P/E of 22.82.
The Agriculture - Operations industry is part of the Consumer Staples sector. This group has a Zacks Industry Rank of 191, putting it in the bottom 25% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within 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) Stock Sinks As Market Gains: Here's Why
In the latest trading session, Archer Daniels Midland (ADM - Free Report) closed at $60.10, marking a -1.48% move from the previous day. The stock's change was less than the S&P 500's daily gain of 1.02%. On the other hand, the Dow registered a gain of 0.4%, and the technology-centric Nasdaq increased by 2.03%.
The agribusiness giant's stock has dropped by 2.88% in the past month, falling short of the Consumer Staples sector's loss of 0.18% and outpacing the S&P 500's loss of 3.15%.
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 April 30, 2024. The company's upcoming EPS is projected at $1.35, signifying a 35.41% drop compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $22.4 billion, indicating a 6.96% downward movement from the same quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $5.48 per share and revenue of $90.37 billion, indicating changes of -21.49% and -3.79%, respectively, compared to the previous 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. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 1.66% lower. Archer Daniels Midland is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note Archer Daniels Midland's current valuation metrics, including its Forward P/E ratio of 11.12. This denotes a discount relative to the industry's average Forward P/E of 22.82.
The Agriculture - Operations industry is part of the Consumer Staples sector. This group has a Zacks Industry Rank of 191, putting it in the bottom 25% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within 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.