Bunge Ltd (BG) PT Set at $79.00 by Piper Jaffray Companies
Bunge Ltd (NYSE:BG) has been given a $79.00 target price by analysts at Piper Jaffray Companies in a report issued on Friday. The brokerage presently has a “buy” rating on the basic materials company’s stock. Piper Jaffray Companies’ target price would suggest a potential upside of 0.39% from the stock’s current price.
A number of other equities analysts have also commented on BG. Goldman Sachs Group, Inc. (The) lowered shares of Bunge from a “buy” rating to a “neutral” rating and set a $88.00 price target on the stock. in a research report on Monday, March 20th. J P Morgan Chase & Co lowered shares of Bunge from a “neutral” rating to an “underweight” rating and set a $70.00 price target on the stock. in a research report on Thursday, April 6th. Stephens lowered shares of Bunge from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, May 3rd. BMO Capital Markets restated a “buy” rating on shares of Bunge in a research report on Friday, May 5th. Finally, Credit Suisse Group set a $80.00 price target on shares of Bunge and gave the company a “buy” rating in a research report on Thursday, May 4th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $83.67.
Bunge (NYSE:BG) traded up 0.40% during midday trading on Friday, hitting $78.69. The stock had a trading volume of 790,458 shares. The company has a market cap of $11.05 billion, a PE ratio of 20.88 and a beta of 1.01. Bunge has a 52 week low of $58.19 and a 52 week high of $83.75. The stock’s 50 day moving average price is $76.41 and its 200-day moving average price is $75.14.
Bunge (NYSE:BG) last released its quarterly earnings results on Wednesday, May 3rd. The basic materials company reported $0.35 EPS for the quarter, missing the Zacks’ consensus estimate of $0.68 by $0.33. The firm had revenue of $11.12 billion during the quarter, compared to analyst estimates of $8.96 billion. Bunge had a net margin of 0.49% and a return on equity of 2.74%. Bunge’s quarterly revenue was up 24.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.41 earnings per share. Equities research analysts predict that Bunge will post $4.75 earnings per share for the current year.
Several institutional investors have recently made changes to their positions in the company. MUFG Americas Holdings Corp raised its position in shares of Bunge by 115.7% in the first quarter. MUFG Americas Holdings Corp now owns 1,361 shares of the basic materials company’s stock worth $108,000 after buying an additional 730 shares during the last quarter. Toronto Dominion Bank raised its position in shares of Bunge by 26.3% in the first quarter. Toronto Dominion Bank now owns 1,526 shares of the basic materials company’s stock worth $121,000 after buying an additional 318 shares during the last quarter. Creative Planning raised its position in shares of Bunge by 99.0% in the second quarter. Creative Planning now owns 1,652 shares of the basic materials company’s stock worth $123,000 after buying an additional 822 shares during the last quarter. Point72 Asia Hong Kong Ltd bought a new position in shares of Bunge during the first quarter worth about $160,000. Finally, Wetherby Asset Management Inc. bought a new position in shares of Bunge during the first quarter worth about $212,000. Institutional investors own 80.68% of the company’s stock.
Bunge Company Profile
Bunge Limited is an agribusiness and food company with integrated operations that stretch from the farm field to consumer foods. The Company operates through five segments: Agribusiness, Edible Oil Products, Milling Products, Sugar and Bioenergy, and Fertilizer. Its Agribusiness segment is an integrated, global business involved in the purchase, storage, transport, processing and sale of agricultural commodities and commodity products.
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