Bunge Ltd. (BG) to Post Q3 2016 Earnings of $1.12 Per Share, Feltl & Co. Forecasts
Bunge Ltd. (NYSE:BG) – Equities researchers at Feltl & Co. dropped their Q3 2016 earnings per share estimates for Bunge in a report released on Wednesday. Feltl & Co. analyst B. Rystrom now forecasts that the firm will post earnings of $1.12 per share for the quarter, down from their previous estimate of $1.75. Feltl & Co. also issued estimates for Bunge’s Q4 2016 earnings at $1.87 EPS and FY2016 earnings at $5.03 EPS.
Several other research analysts also recently commented on BG. Zacks Investment Research downgraded shares of Bunge from a “hold” rating to a “sell” rating in a research note on Monday. BB&T Corp. began coverage on shares of Bunge in a research note on Tuesday, July 12th. They issued a “buy” rating and a $75.00 target price on the stock. Morgan Stanley reaffirmed a “neutral” rating on shares of Bunge in a research note on Thursday, June 16th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $72.00 target price on shares of Bunge in a research note on Monday, August 1st. Finally, Bank of America Corp. raised shares of Bunge from a “neutral” rating to a “buy” rating in a research note on Tuesday, August 2nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $73.13.
Bunge (NYSE:BG) traded down 1.86% on Friday, hitting $60.72. 303,639 shares of the company’s stock were exchanged. The firm has a 50 day moving average price of $61.68 and a 200-day moving average price of $61.31. The stock has a market cap of $8.47 billion, a P/E ratio of 11.69 and a beta of 0.95. Bunge has a 52-week low of $46.08 and a 52-week high of $79.87.
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Bunge (NYSE:BG) last released its quarterly earnings data on Thursday, July 28th. The company reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.41. Bunge had a net margin of 1.90% and a return on equity of 12.02%. The firm had revenue of $10.50 billion for the quarter, compared to analyst estimates of $10.08 billion. During the same period last year, the firm earned $0.50 earnings per share. The business’s quarterly revenue was down 2.2% compared to the same quarter last year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 2nd. Stockholders of record on Friday, November 18th will be issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.72%. The ex-dividend date is Wednesday, November 16th. Bunge’s dividend payout ratio (DPR) is presently 32.43%.
Several hedge funds have recently made changes to their positions in BG. Strs Ohio boosted its stake in shares of Bunge by 0.9% in the second quarter. Strs Ohio now owns 504,478 shares of the company’s stock worth $29,839,000 after buying an additional 4,623 shares during the period. Renaissance Technologies LLC acquired a new stake in shares of Bunge during the first quarter worth approximately $57,203,000. Geode Capital Management LLC boosted its stake in shares of Bunge by 4.3% in the first quarter. Geode Capital Management LLC now owns 1,010,493 shares of the company’s stock worth $57,237,000 after buying an additional 41,608 shares during the period. Moore Capital Management LP boosted its stake in shares of Bunge by 474.5% in the first quarter. Moore Capital Management LP now owns 574,503 shares of the company’s stock worth $32,557,000 after buying an additional 474,503 shares during the period. Finally, Envestnet Asset Management Inc. boosted its stake in shares of Bunge by 10.9% in the first quarter. Envestnet Asset Management Inc. now owns 93,429 shares of the company’s stock worth $5,295,000 after buying an additional 9,220 shares during the period. Hedge funds and other institutional investors own 78.72% of the company’s stock.
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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