Bunge Ltd. (BG) Given Average Rating of “Buy” by Analysts
Bunge Ltd. (NYSE:BG) has received an average recommendation of “Buy” from the ten research firms that are presently covering the stock. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $75.33.
Several brokerages recently issued reports on BG. Zacks Investment Research downgraded shares of Bunge from a “hold” rating to a “sell” rating in a research report on Monday, October 3rd. Bank of America Corp. upgraded shares of Bunge from a “neutral” rating to a “buy” rating in a research report on Tuesday, August 2nd. Finally, TheStreet upgraded shares of Bunge from a “hold” rating to a “buy” rating in a research report on Monday, November 21st.
Shares of Bunge (NYSE:BG) traded up 1.04% during trading on Wednesday, hitting $67.81. 413,196 shares of the stock traded hands. The company has a market cap of $9.46 billion, a PE ratio of 15.09 and a beta of 0.97. The company has a 50 day moving average of $64.37 and a 200-day moving average of $62.88. Bunge has a 1-year low of $46.08 and a 1-year high of $70.53.
Bunge (NYSE:BG) last issued its earnings results on Wednesday, November 2nd. The company reported $0.73 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.81 by $0.08. Bunge had a net margin of 1.58% and a return on equity of 10.38%. The firm earned $11.42 billion during the quarter, compared to analyst estimates of $8.19 billion. During the same quarter in the prior year, the firm posted $1.24 EPS. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. On average, equities analysts anticipate that Bunge will post $4.57 EPS for the current fiscal year.
Several hedge funds have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD boosted its stake in Bunge by 9.1% in the third quarter. Price T Rowe Associates Inc. MD now owns 10,353,997 shares of the company’s stock worth $613,267,000 after buying an additional 865,585 shares during the last quarter. Harding Loevner LP boosted its stake in Bunge by 3.4% in the third quarter. Harding Loevner LP now owns 4,816,759 shares of the company’s stock worth $285,297,000 after buying an additional 159,854 shares during the last quarter. LSV Asset Management boosted its stake in Bunge by 58.1% in the third quarter. LSV Asset Management now owns 4,517,677 shares of the company’s stock worth $267,581,000 after buying an additional 1,660,645 shares during the last quarter. BlackRock Institutional Trust Company N.A. boosted its stake in Bunge by 6.5% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 3,907,090 shares of the company’s stock worth $231,417,000 after buying an additional 238,621 shares during the last quarter. Finally, Carlson Capital L P boosted its stake in Bunge by 18.6% in the second quarter. Carlson Capital L P now owns 3,100,200 shares of the company’s stock worth $183,377,000 after buying an additional 486,000 shares during the last quarter. 79.36% of the stock is owned by institutional investors.
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Bunge Company Profile
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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