Bunge Ltd. (NYSE:BG) Given Average Recommendation of “Buy” by Analysts
Shares of Bunge Ltd. (NYSE:BG) have been assigned an average recommendation of “Buy” from the nine research firms that are presently covering the company. Three analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $75.33.
Several equities research analysts recently commented on the company. BMO Capital Markets reiterated an “outperform” rating and issued a $72.00 price objective on shares of Bunge in a report on Monday, August 1st. Bank of America Corp. upgraded Bunge from a “neutral” rating to a “buy” rating in a report on Tuesday, August 2nd. Zacks Investment Research downgraded Bunge from a “buy” rating to a “hold” rating in a report on Monday, August 1st. Morgan Stanley reiterated a “neutral” rating on shares of Bunge in a report on Thursday, June 16th. Finally, BB&T Corp. began coverage on Bunge in a research report on Tuesday, July 12th. They issued a “buy” rating and a $75.00 target price on the stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Tower Research Capital LLC TRC boosted its position in Bunge by 8,954.2% in the second quarter. Tower Research Capital LLC TRC now owns 2,173 shares of the company’s stock worth $129,000 after buying an additional 2,149 shares during the last quarter. Mizuho Asset Management Co. Ltd. boosted its position in Bunge by 123.1% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 2,206 shares of the company’s stock worth $130,000 after buying an additional 1,217 shares during the last quarter. JFS Wealth Advisors LLC boosted its position in Bunge by 17.3% in the second quarter. JFS Wealth Advisors LLC now owns 2,392 shares of the company’s stock worth $141,000 after buying an additional 353 shares during the last quarter. Global X Management Co. LLC boosted its position in Bunge by 114.1% in the second quarter. Global X Management Co. LLC now owns 2,800 shares of the company’s stock worth $166,000 after buying an additional 1,492 shares during the last quarter. Finally, Pacer Advisors Inc. boosted its position in Bunge by 8.3% in the second quarter. Pacer Advisors Inc. now owns 2,801 shares of the company’s stock worth $166,000 after buying an additional 215 shares during the last quarter. 78.72% of the stock is currently owned by hedge funds and other institutional investors.
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Shares of Bunge (NYSE:BG) traded up 1.11% during midday trading on Wednesday, hitting $59.94. The stock had a trading volume of 865,514 shares. The firm has a market cap of $8.36 billion, a price-to-earnings ratio of 11.54 and a beta of 0.97. The stock’s 50 day moving average price is $63.48 and its 200 day moving average price is $61.00. Bunge has a 12 month low of $46.08 and a 12 month high of $79.87.
Bunge (NYSE:BG) last released its quarterly earnings data on Thursday, July 28th. The company reported $0.79 EPS for the quarter, topping the consensus estimate of $0.38 by $0.41. Bunge had a return on equity of 12.02% and a net margin of 1.90%. The company earned $10.50 billion during the quarter, compared to the consensus estimate of $10.08 billion. During the same period last year, the company earned $0.50 EPS. Bunge’s revenue for the quarter was down 2.2% on a year-over-year basis. On average, equities analysts forecast that Bunge will post $5.35 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 2nd. Stockholders of record on Friday, November 18th will be given a dividend of $0.42 per share. The ex-dividend date is Wednesday, November 16th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.83%. Bunge’s payout ratio is currently 32.43%.
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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