Bunge Downgraded to “Sector Perform” at Scotiabank (BG)
Bunge (NYSE:BG) was downgraded by stock analysts at Scotiabank from an “outperform” rating to a “sector perform” rating in a report issued on Thursday, TheFlyOnTheWall.com reports.
Other equities research analysts have also recently issued reports about the stock. Analysts at Miller Tabak downgraded shares of Bunge from a “buy” rating to a “hold” rating in a research note to investors on Tuesday. They now have a $86.00 price target on the stock, up previously from $84.00. Separately, analysts at Merrill Lynch upgraded shares of Bunge from a “neutral” rating to a “buy” rating in a research note to investors on Monday. Finally, analysts at Bank of America Corp. upgraded shares of Bunge from a “neutral” rating to a “buy” rating in a research note to investors on Monday. They now have a $90.00 price target on the stock, up previously from $78.00. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $84.13.
Bunge (NYSE:BG) traded down 0.16% during mid-day trading on Thursday, hitting $80.85. The stock had a trading volume of 204,039 shares. Bunge has a 1-year low of $63.18 and a 1-year high of $80.99. The stock has a 50-day moving average of $76.41 and a 200-day moving average of $72.94. The company’s market cap is $11.905 billion.
Bunge (NYSE:BG) last announced its earnings results on Thursday, October 24th. The company reported $2.02 EPS for the quarter, missing the Thomson Reuters consensus estimate of $2.21 by $0.19. The company had revenue of $14.70 billion for the quarter, compared to the consensus estimate of $16.91 billion. During the same quarter last year, the company posted $2.08 earnings per share. Bunge’s revenue was down 11.1% compared to the same quarter last year. Analysts expect that Bunge will post $6.66 EPS for the current fiscal year.
Bunge Limited is a holding company, and its operations are conducted through its subsidiaries. The Company is a global agribusiness and food company with integrated operations that stretch from the farm fields to consumer foods.
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