In the latest quarterly earnings report for the period ending June 2023, ADM displayed a revenue of $25.20 Billion, with a net income of $927.00 Million, and a loss in profit margin from the last quarter of 3.68%. This quarter, the stock’s reported revenue missed analysts’ estimates by $466.642 Million (1.82%).
In addition, the ADM stock reported an EPS of $1.89 for the period ending June 2023, beating the analysts’ estimate of $1.596 by 18.40%. The ADM next quarter’s revenue is estimated to be $23.744 Billion and the estimated EPS of $1.538, the report will be released on October 24th, 2023.
ADM stock’s latest quarterly balance sheet for the period ending June 2023 reported total assets of $55.50 Billion and total liabilities of $30.22 Billion. The stock’s debt-to-assets ratio is at 54.45%.
The ADM stock’s dividend yield for the TTM is 2.35% and its last dividend payment was $0.45 per share. The ADM last ex-dividend date was August 15, 2023, and its payout ratio is 22.69%.
ADM stock has confidence in its future growth and enough cash flow to invest in its business, as shown by its low dividend payout ratio. Its dividends are also safe and reliable, as its earnings and cash flows support them.
The Archer-Daniels-Midland Company’s dividend amount has shown that the company is financially and fundamentally healthy, as it has increased from $1.34 to $1.60 in the past five years.
ADM Stock Price Technical Analysis in 1-D Timeframe
The ADM stock has a float of 532.09 Million shares and a market cap of $40.315 Billion. The ADM stock has a CMP of $75.20 and an intraday gain of 0.91%. The ADM stock’s average volume for the last 10 days is 2.031 Million and its current volume is 1.916 Million.
According to Archer-Daniels-Midland Company (NYSE: ADM), the stock price has been rising since March 2020, when ADM rallied from the $28 support level by making higher highs and lows. But at the high, it faced resistance as investors took profit booking on multiple quarter reports and stayed below the trendline.
However, the stock has shown a recovery sign as the ADM price took support at a vital level of around $72 on the charts in the first week of October 2023.
Therefore, if buyers thrust more, the ADM stock might surge abruptly from the current level and surge above the previous swing high. The possible targets are between $80 and $85.
On the contrary, if ADM stock fails to hold its grip and consecutively falls and breaches below $72, it may slide to $66.
At the time of writing, ADM stock is trading near 20 EMA. If more buying volume adds up then it might conquer resisting levels and EMA’s in the next sessions.
The MACD in ADM stock shows a bullish cross where the MACD is -1.37. The RSI is at 46.22 and took support on 14 SMA which is at 31.36. The indicators in ADM stock suggest bullish signals on the charts.
In addition, The 1-year price forecasts for ADM stock by 14 analysts range between $85.00 to $117.00. The stock ratings for ADM stock are positive and highly recommended based on 17 analysts, who have evaluated the ADM stock in the last three months.
Summary
The technical analysis tools of the Archer stock price highlight upward signals and support bullishness. Archer-Daniels-Midland Company (NYSE: ADM) chart indicates that the traders and investors of the share price are bullish and positive on the 1-D timeframe. The price action shows ADM stock-taking support and is trying to attempt to rise upward showing signs of a more bullish outlook at the time of publishing.
Technical Levels
Support Levels: $72 and $66
Resistance Levels: $80 and $85
Disclaimer
In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
Source: https://www.thecoinrepublic.com/2023/10/18/adm-stock-forecast-can-nyse-adm-make-a-bull-run-to-100/