Andersons (NASDAQ:ANDE) Issues Quarterly Earnings Results

Andersons (NASDAQ:ANDE) posted its quarterly earnings data on Tuesday. The basic materials company reported $1.38 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.27, FiscalAI reports. The firm had revenue of $2.83 billion for the quarter, compared to analysts’ expectations of $2.97 billion. Andersons had a return on equity of 16.23% and a net margin of 1.62%. The company’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.59 EPS.

Andersons Price Performance

ANDE stock opened at $62.67 on Wednesday. The company’s 50-day moving average price is $66.85 and its two-hundred day moving average price is $69.08. The firm has a market cap of $2.13 billion, a P/E ratio of 12.10 and a beta of 0.63. The company has a quick ratio of 0.81, a current ratio of 1.51 and a debt-to-equity ratio of 0.42. Andersons has a 12 month low of $45.83 and a 12 month high of $82.11.

Andersons Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 22nd. Shareholders of record on Thursday, October 1st were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend was Thursday, October 1st. Andersons’s dividend payout ratio (DPR) is currently 15.44%.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. BMO Capital Markets upped their price target on shares of Andersons from $75.00 to $90.00 and gave the company an “outperform” rating in a research note on Wednesday, August 5th. Weiss Ratings upgraded shares of Andersons from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, October 8th. Deutsche Bank Aktiengesellschaft set a $110.00 price objective on shares of Andersons in a report on Tuesday, August 4th. Finally, Wall Street Zen upgraded shares of Andersons from a “buy” rating to a “strong-buy” rating in a research report on Saturday, October 17th. One analyst has rated the stock with a Strong Buy rating and four have issued a Buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $95.00.

About Andersons

The Andersons, Inc (NASDAQ: ANDE) is an agribusiness company that provides products and services supporting the agricultural supply chain. Founded in 1947 and headquartered in Maumee, Ohio, the company serves farmers, agricultural retailers, manufacturers, and other customers primarily in North America.

The company’s Trade segment merchandises and manages the movement and storage of grains and other agricultural commodities. Its operations include grain elevators, commodity trading, logistics, and related services that connect producers with domestic and international markets.

Through its Ethanol segment, The Andersons produces renewable fuels and markets co-products such as distillers grains and corn oil.