Feltl & Co. Weighs in on Bunge Ltd.’s Q3 2016 Earnings (BG)
Bunge Ltd. (NYSE:BG) – Stock analysts at Feltl & Co. lowered their Q3 2016 earnings estimates for shares of Bunge in a report issued on Wednesday. Feltl & Co. analyst B. Rystrom now anticipates that the brokerage will post earnings of $1.12 per share for the quarter, down from their previous forecast of $1.75. Feltl & Co. also issued estimates for Bunge’s Q4 2016 earnings at $1.87 EPS and FY2016 earnings at $5.03 EPS.
A number of other equities analysts also recently issued reports on BG. Zacks Investment Research raised shares of Bunge from a “hold” rating to a “buy” rating and set a $66.00 price objective on the stock in a report on Thursday, June 30th. BMO Capital Markets reaffirmed an “outperform” rating and set a $72.00 price objective on shares of Bunge in a report on Monday, August 1st. Bank of America Corp. raised shares of Bunge from a “neutral” rating to a “buy” rating in a report on Tuesday, August 2nd. Morgan Stanley reissued a “neutral” rating on shares of Bunge in a report on Thursday, June 16th. Finally, BB&T Corp. assumed coverage on shares of Bunge in a report on Tuesday, July 12th. They issued a “buy” rating and a $75.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $73.13.
Bunge (NYSE:BG) opened at 60.96 on Friday. The company’s 50-day moving average is $61.59 and its 200-day moving average is $61.35. Bunge has a 52-week low of $46.08 and a 52-week high of $79.87. The company has a market capitalization of $8.50 billion, a price-to-earnings ratio of 11.74 and a beta of 0.95.
Bunge (NYSE:BG) last released its quarterly earnings results on Thursday, July 28th. The company reported $0.79 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.41. Bunge had a net margin of 1.90% and a return on equity of 12.02%. The business had revenue of $10.50 billion for the quarter, compared to analyst estimates of $10.08 billion. During the same period last year, the firm earned $0.50 earnings per share. Bunge’s revenue for the quarter was down 2.2% compared to the same quarter last year.
A number of large investors have recently made changes to their positions in the stock. Tower Research Capital LLC TRC boosted its stake in shares of Bunge by 8,954.2% in the second quarter. Tower Research Capital LLC TRC now owns 2,173 shares of the company’s stock valued at $129,000 after buying an additional 2,149 shares in the last quarter. Mizuho Asset Management Co. Ltd. boosted its stake in shares of Bunge by 123.1% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 2,206 shares of the company’s stock valued at $130,000 after buying an additional 1,217 shares in the last quarter. JFS Wealth Advisors LLC boosted its stake in shares of Bunge by 17.3% in the second quarter. JFS Wealth Advisors LLC now owns 2,392 shares of the company’s stock valued at $141,000 after buying an additional 353 shares in the last quarter. Global X Management Co. LLC boosted its stake in shares of Bunge by 114.1% in the second quarter. Global X Management Co. LLC now owns 2,800 shares of the company’s stock valued at $166,000 after buying an additional 1,492 shares in the last quarter. Finally, Pacer Advisors Inc. boosted its stake in shares of Bunge by 8.3% in the second quarter. Pacer Advisors Inc. now owns 2,801 shares of the company’s stock valued at $166,000 after buying an additional 215 shares in the last quarter. Institutional investors and hedge funds own 78.72% of the company’s stock.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 2nd. Investors of record on Friday, November 18th will be paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 2.76%. The ex-dividend date of this dividend is Wednesday, November 16th. Bunge’s dividend payout ratio is currently 32.43%.
Bunge Limited is an agribusiness and food company with integrated operations that stretch from the farm field to consumer foods. The Agribusiness segment is involved in the purchase, storage, transport, processing and sale of agricultural commodities and commodity products. The Edible oil products and milling products segments include businesses that produce and sell edible oil based products, including vegetable oils, shortenings, margarines and mayonnaise, and milled grain products, such as wheat flours, corn-based products and rice.
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