Piper Jaffray Companies Reaffirms “Buy” Rating for Bunge Limited (NYSE:BG)
Bunge Limited (NYSE:BG)‘s stock had its “buy” rating reaffirmed by investment analysts at Piper Jaffray Companies in a report released on Friday. They currently have a $84.00 price objective on the basic materials company’s stock. Piper Jaffray Companies’ price objective indicates a potential upside of 5.49% from the company’s previous close.
Other research analysts have also recently issued reports about the stock. BMO Capital Markets reiterated a “buy” rating on shares of Bunge Limited in a research note on Monday, May 15th. Credit Suisse Group set a $80.00 target price on shares of Bunge Limited and gave the company a “buy” rating in a research note on Thursday, May 4th. Citigroup Inc. dropped their target price on shares of Bunge Limited from $94.00 to $88.00 and set a “buy” rating on the stock in a research note on Wednesday, July 12th. Stephens cut shares of Bunge Limited from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, May 3rd. Finally, BidaskClub upgraded shares of Bunge Limited from a “sell” rating to a “hold” rating in a research note on Tuesday, July 4th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $84.50.
Shares of Bunge Limited (BG) traded up 0.06% during midday trading on Friday, hitting $79.63. 904,501 shares of the stock were exchanged. The firm’s 50 day moving average is $77.31 and its 200-day moving average is $75.68. Bunge Limited has a 1-year low of $58.19 and a 1-year high of $83.75. The stock has a market capitalization of $11.18 billion, a price-to-earnings ratio of 21.13 and a beta of 1.01.
Bunge Limited (NYSE:BG) last released its quarterly earnings results on Wednesday, May 3rd. The basic materials company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.68 by $0.33. Bunge Limited had a return on equity of 8.03% and a net margin of 1.23%. The firm had revenue of $11.12 billion for the quarter, compared to analysts’ expectations of $8.96 billion. During the same quarter last year, the firm posted $1.41 earnings per share. The firm’s revenue for the quarter was up 24.7% compared to the same quarter last year. On average, analysts predict that Bunge Limited will post $4.65 EPS for the current year.
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Several hedge funds have recently bought and sold shares of BG. Vanguard Group Inc. raised its stake in Bunge Limited by 9.0% in the first quarter. Vanguard Group Inc. now owns 13,226,070 shares of the basic materials company’s stock worth $1,048,298,000 after buying an additional 1,095,696 shares during the period. Price T Rowe Associates Inc. MD raised its stake in Bunge Limited by 9.1% in the third quarter. Price T Rowe Associates Inc. MD now owns 10,353,997 shares of the basic materials company’s stock worth $613,267,000 after buying an additional 865,585 shares during the period. BlackRock Inc. raised its stake in Bunge Limited by 1,532.8% in the first quarter. BlackRock Inc. now owns 7,991,765 shares of the basic materials company’s stock worth $633,427,000 after buying an additional 7,502,326 shares during the period. Franklin Resources Inc. raised its stake in Bunge Limited by 0.8% in the first quarter. Franklin Resources Inc. now owns 6,058,832 shares of the basic materials company’s stock worth $343,355,000 after buying an additional 47,612 shares during the period. Finally, LSV Asset Management raised its stake in Bunge Limited by 2.3% in the first quarter. LSV Asset Management now owns 5,130,126 shares of the basic materials company’s stock worth $406,613,000 after buying an additional 113,004 shares during the period. 80.68% of the stock is currently owned by institutional investors.
About Bunge Limited
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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