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Archer Daniels Midland Co. (NYSE: ADM), one of the largest grain processors and crop transportation networks in the world, is scheduled to discuss its fiscal fourth quarter 2009 results tomorrow morning in a conference call at 9:00 AM ET, with an accompanying slide presentation. See the company's website for information on listening in on the call or the live webcast.
For the quarter in which ADM declared its 310th consecutive quarterly dividend and completed the acquisition of a German chocolate manufacturer, analysts surveyed by Thomson Reuters expect the Decatur, Ill.-based agri-giant to report that earnings fell 22.4% from a year ago to $0.45 per share, though that is up from $0.34 per share in the third quarter. Revenue for the fourth quarter is expected to be 30.1% lower to $15.2 billion. Earnings beat estimates in three of the five past quarters, missing by 15 cents per share in the third quarter.
For the full year, analysts are far looking for $3.34 per share (+14.9%) on sales of $68.3 billion (-2.1%).
ADM's earnings multiple is 12x. Short interest has fallen off over the three months. The First Call consensus recommendation remains to hold ADM, but the Motley Fool likes ADM for its return on equity and low debt-to-capital ratio, among other things.
Over the past month, shares have risen well above the 100-day moving average and reached a 52-week high of $32.13 last week.
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