Bunge (BG) Cut to “Hold” at Zacks Investment Research

Zacks Investment Research cut shares of Bunge (NYSE:BG) from a strong-buy rating to a hold rating in a research report released on Friday.

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 have also issued reports on the company. JPMorgan Chase & Co. upgraded Bunge to a buy rating and set a $82.00 target price on the stock in a research note on Monday, July 9th. ValuEngine lowered Bunge from a hold rating to a sell rating in a research note on Wednesday, July 11th. Credit Suisse Group cut their target price on Bunge from $80.00 to $77.00 and set an outperform rating on the stock in a research note on Thursday, August 2nd. Citigroup cut their target price on Bunge from $100.00 to $92.00 and set a buy rating on the stock in a research note on Thursday, August 2nd. Finally, BMO Capital Markets cut their target price on Bunge from $87.00 to $83.00 and set an outperform rating on the stock in a research note on Thursday. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Bunge currently has an average rating of Buy and a consensus price target of $78.40.

BG stock opened at $62.50 on Friday. The company has a quick ratio of 0.71, a current ratio of 1.58 and a debt-to-equity ratio of 0.85. The stock has a market capitalization of $8.79 billion, a P/E ratio of 32.22 and a beta of 1.12. Bunge has a 1-year low of $61.26 and a 1-year high of $83.20.

Bunge (NYSE:BG) last released its quarterly earnings data on Wednesday, October 31st. The basic materials company reported $2.52 earnings per share for the quarter, beating the consensus estimate of $2.39 by $0.13. The firm had revenue of $11.41 billion during the quarter, compared to the consensus estimate of $11.95 billion. Bunge had a return on equity of 7.84% and a net margin of 0.59%. The firm’s quarterly revenue was down .1% on a year-over-year basis. During the same period in the previous year, the company posted $0.75 earnings per share. On average, sell-side analysts anticipate that Bunge will post 4.91 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Bradley Foster & Sargent Inc. CT boosted its position in Bunge by 5.4% in the second quarter. Bradley Foster & Sargent Inc. CT now owns 15,499 shares of the basic materials company’s stock valued at $1,080,000 after buying an additional 800 shares during the last quarter. Arizona State Retirement System boosted its position in Bunge by 1.2% in the 3rd quarter. Arizona State Retirement System now owns 86,265 shares of the basic materials company’s stock worth $5,927,000 after purchasing an additional 1,016 shares in the last quarter. Stifel Financial Corp boosted its position in Bunge by 25.3% in the 1st quarter. Stifel Financial Corp now owns 5,326 shares of the basic materials company’s stock worth $392,000 after purchasing an additional 1,075 shares in the last quarter. CIBC World Markets Inc. boosted its position in Bunge by 21.5% in the 2nd quarter. CIBC World Markets Inc. now owns 6,560 shares of the basic materials company’s stock worth $457,000 after purchasing an additional 1,160 shares in the last quarter. Finally, IFM Investors Pty Ltd boosted its position in Bunge by 19.0% in the 3rd quarter. IFM Investors Pty Ltd now owns 7,907 shares of the basic materials company’s stock worth $543,000 after purchasing an additional 1,262 shares in the last quarter. Hedge funds and other institutional investors own 80.66% of the company’s stock.

Bunge Company Profile

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.

See Also: Earnings Per Share

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