Bunge Limited (BG) Rating Reiterated by Piper Jaffray Companies
Bunge Limited (NYSE:BG)‘s stock had its “buy” rating reiterated by equities research analysts at Piper Jaffray Companies in a research report issued to clients and investors on Tuesday. They presently have a $86.00 target price on the basic materials company’s stock. Piper Jaffray Companies’ target price indicates a potential upside of 13.76% from the company’s current price.
Several other research firms have also issued reports on BG. Credit Suisse Group reaffirmed a “hold” rating and issued a $80.00 price target on shares of Bunge Limited in a research report on Thursday, May 25th. Zacks Investment Research raised Bunge Limited from a “sell” rating to a “hold” rating in a research report on Tuesday, July 25th. BMO Capital Markets set a $87.00 price target on Bunge Limited and gave the stock a “buy” rating in a research report on Monday, June 12th. BidaskClub lowered Bunge Limited from a “hold” rating to a “sell” rating in a research report on Wednesday, June 14th. Finally, J P Morgan Chase & Co lowered Bunge Limited to a “neutral – underweight” rating and set a $70.00 price target for the company. in a research report on Tuesday, July 4th. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the stock. Bunge Limited currently has a consensus rating of “Hold” and a consensus target price of $84.83.
Bunge Limited (BG) opened at 75.60 on Tuesday. The firm’s 50-day moving average is $76.99 and its 200 day moving average is $77.35. The firm has a market cap of $10.63 billion, a P/E ratio of 21.61 and a beta of 1.04. Bunge Limited has a 12-month low of $58.19 and a 12-month high of $83.75.
Bunge Limited (NYSE:BG) last posted its quarterly earnings results on Wednesday, August 2nd. The basic materials company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.07. The firm had revenue of $11.65 billion during the quarter, compared to analyst estimates of $10.88 billion. Bunge Limited had a return on equity of 6.65% and a net margin of 1.12%. Bunge Limited’s quarterly revenue was up 10.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.79 EPS. Equities analysts forecast that Bunge Limited will post $3.94 earnings per share for the current year.
In other Bunge Limited news, insider Jerry Matthews Simmons, Jr. sold 2,636 shares of the business’s stock in a transaction dated Monday, July 24th. The stock was sold at an average price of $80.00, for a total value of $210,880.00. Following the completion of the transaction, the insider now owns 20,214 shares of the company’s stock, valued at approximately $1,617,120. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.30% of the stock is currently owned by insiders.
A number of large investors have recently modified their holdings of BG. CGOV Asset Management increased its position in shares of Bunge Limited by 11.7% during the 1st quarter. CGOV Asset Management now owns 18,650 shares of the basic materials company’s stock valued at $1,969,000 after purchasing an additional 1,950 shares during the last quarter. Nationwide Fund Advisors purchased a new stake in shares of Bunge Limited during the 1st quarter valued at about $8,770,000. Shell Asset Management Co. increased its position in shares of Bunge Limited by 6.7% during the 1st quarter. Shell Asset Management Co. now owns 8,265 shares of the basic materials company’s stock valued at $655,000 after purchasing an additional 517 shares during the last quarter. DUPONT CAPITAL MANAGEMENT Corp purchased a new stake in shares of Bunge Limited during the 1st quarter valued at about $1,157,000. Finally, Wetherby Asset Management Inc. purchased a new stake in shares of Bunge Limited during the 1st quarter valued at about $212,000. 80.36% of the stock is owned by institutional investors and hedge funds.
About Bunge Limited
Bunge Limited is an agribusiness and food company with integrated operations that stretch from the farm field to consumer foods. The Company operates through five segments: Agribusiness, Edible Oil Products, Milling Products, Sugar and Bioenergy, and Fertilizer. Its Agribusiness segment is an integrated, global business involved in the purchase, storage, transport, processing and sale of agricultural commodities and commodity products.
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