Archer-Daniels-Midland Company (ADM) Shares Gap Down on Disappointing Earnings

Shares of Archer-Daniels-Midland Company (NYSE:ADM) gapped down prior to trading on Tuesday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $44.88, but opened at $42.81. Archer-Daniels-Midland shares last traded at $40.87, with a volume of 8,963,785 shares changing hands.

The company reported $0.45 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.55 by ($0.10). Archer-Daniels-Midland had a return on equity of 8.40% and a net margin of 2.22%. The company had revenue of $14.83 billion during the quarter, compared to analysts’ expectations of $16 billion. During the same period in the prior year, the business posted $0.59 earnings per share. The company’s revenue for the quarter was down 6.3% on a year-over-year basis.

ADM has been the subject of several research analyst reports. Credit Suisse Group dropped their target price on shares of Archer-Daniels-Midland from $45.00 to $42.00 and set a “neutral” rating for the company in a research report on Thursday, August 31st. Citigroup Inc. cut shares of Archer-Daniels-Midland from a “buy” rating to a “neutral” rating and raised their target price for the stock from $42.25 to $45.00 in a research report on Thursday, September 28th. Robert W. Baird initiated coverage on shares of Archer-Daniels-Midland in a research report on Monday, September 11th. They issued an “outperform” rating and a $50.00 target price for the company. Piper Jaffray Companies set a $42.00 target price on shares of Archer-Daniels-Midland and gave the stock a “hold” rating in a research report on Sunday, October 1st. Finally, Stifel Nicolaus reaffirmed a “hold” rating and issued a $45.00 target price (up from $40.00) on shares of Archer-Daniels-Midland in a research report on Thursday, August 3rd. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $41.53.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. V Wealth Management LLC lifted its position in Archer-Daniels-Midland by 0.5% during the 2nd quarter. V Wealth Management LLC now owns 4,486 shares of the company’s stock valued at $184,000 after acquiring an additional 22 shares during the period. Hefty Wealth Partners lifted its position in Archer-Daniels-Midland by 0.5% during the 2nd quarter. Hefty Wealth Partners now owns 4,704 shares of the company’s stock valued at $194,000 after acquiring an additional 24 shares during the period. Lowe Brockenbrough & Co. Inc. lifted its position in Archer-Daniels-Midland by 0.6% during the 1st quarter. Lowe Brockenbrough & Co. Inc. now owns 10,084 shares of the company’s stock valued at $464,000 after acquiring an additional 58 shares during the period. ING Groep NV lifted its position in Archer-Daniels-Midland by 0.3% during the 2nd quarter. ING Groep NV now owns 29,478 shares of the company’s stock valued at $1,220,000 after acquiring an additional 76 shares during the period. Finally, Good Life Advisors LLC lifted its position in Archer-Daniels-Midland by 1.0% during the 2nd quarter. Good Life Advisors LLC now owns 9,323 shares of the company’s stock valued at $378,000 after acquiring an additional 90 shares during the period. 72.57% of the stock is owned by institutional investors.

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