Bunge (NYSE:BG) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Thursday, March 15th.
According to Zacks, “Bunge Ltd. is an integrated global agribusiness and food company spanning the farm-to-consumer food chain. Bunge processes, produces, moves, distributes and markets food on five continents. “
Several other equities analysts also recently commented on the stock. Citigroup upgraded shares of Bunge from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $77.99 to $89.00 in a research note on Tuesday, March 6th. Credit Suisse Group set a $84.00 target price on shares of Bunge and gave the stock a “buy” rating in a research note on Monday, January 22nd. Piper Jaffray reiterated a “buy” rating on shares of Bunge in a research note on Thursday, February 15th. JPMorgan Chase upgraded shares of Bunge from a “neutral” rating to an “overweight” rating and set a $90.00 target price for the company in a research note on Wednesday, March 7th. Finally, Stephens upgraded shares of Bunge from an “equal weight” rating to an “overweight” rating in a research note on Thursday, February 15th. One analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the stock. Bunge currently has a consensus rating of “Buy” and an average target price of $85.50.
Shares of BG opened at $75.59 on Thursday. Bunge has a 12 month low of $63.87 and a 12 month high of $83.75. The company has a quick ratio of 0.86, a current ratio of 1.67 and a debt-to-equity ratio of 0.62. The firm has a market cap of $10,572.18, a PE ratio of 38.73 and a beta of 1.14.
Bunge (NYSE:BG) last released its earnings results on Wednesday, February 14th. The basic materials company reported $0.67 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.48 by ($0.81). The business had revenue of $11.61 billion during the quarter, compared to analysts’ expectations of $12.57 billion. Bunge had a return on equity of 4.36% and a net margin of 0.35%. The company’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same period last year, the business earned $1.70 earnings per share. analysts forecast that Bunge will post 3.87 earnings per share for the current year.
A number of institutional investors and hedge funds have recently modified their holdings of BG. Amundi Pioneer Asset Management Inc. acquired a new position in Bunge during the fourth quarter worth about $107,544,000. ING Groep NV grew its position in Bunge by 13,050.0% during the fourth quarter. ING Groep NV now owns 684,983 shares of the basic materials company’s stock worth $45,949,000 after buying an additional 679,774 shares during the period. Renaissance Technologies LLC grew its position in Bunge by 397.8% during the fourth quarter. Renaissance Technologies LLC now owns 633,600 shares of the basic materials company’s stock worth $42,502,000 after buying an additional 506,318 shares during the period. Fairpointe Capital LLC grew its position in Bunge by 45.1% during the fourth quarter. Fairpointe Capital LLC now owns 1,334,905 shares of the basic materials company’s stock worth $89,546,000 after buying an additional 415,058 shares during the period. Finally, Neuberger Berman Group LLC grew its position in Bunge by 1,800.1% during the third quarter. Neuberger Berman Group LLC now owns 378,289 shares of the basic materials company’s stock worth $26,276,000 after buying an additional 358,380 shares during the period. Institutional investors own 79.35% of the company’s stock.
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Bunge Limited operates as an agribusiness and food company worldwide. It operates through five segments: Agribusiness, Edible Oil Products, Milling Products, Sugar and Bioenergy, and Fertilizer. The Agribusiness segment purchases, stores, transports, processes, and sells agricultural commodities and commodity products, including oilseeds primarily soybeans, rapeseed, canola, and sunflower seeds, as well as grain, such as wheat and corn; and vegetable oils and protein meals.
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