Bunge Limited (BG) Given Consensus Rating of “Hold” by Brokerages
Shares of Bunge Limited (NYSE:BG) have been given an average rating of “Hold” by the twelve brokerages that are currently covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, four have given a hold recommendation and four have given a buy recommendation to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $81.86.
Several brokerages have recently weighed in on BG. Citigroup lowered shares of Bunge from a “buy” rating to a “neutral” rating and set a $75.00 price objective on the stock. in a report on Thursday, September 28th. Vertical Group raised shares of Bunge from a “hold” rating to a “buy” rating in a research report on Thursday. Zacks Investment Research raised shares of Bunge from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 3rd. TheStreet downgraded shares of Bunge from a “b-” rating to a “c+” rating in a research report on Tuesday, October 10th. Finally, Robert W. Baird started coverage on shares of Bunge in a research report on Monday, September 11th. They set a “neutral” rating and a $77.00 target price for the company.
A number of hedge funds have recently modified their holdings of BG. York Capital Management Global Advisors LLC purchased a new stake in Bunge during the second quarter worth approximately $136,703,000. Vanguard Group Inc. grew its holdings in Bunge by 9.3% during the second quarter. Vanguard Group Inc. now owns 14,450,143 shares of the basic materials company’s stock worth $1,077,980,000 after acquiring an additional 1,224,073 shares during the period. Wells Fargo & Company MN grew its holdings in Bunge by 87.5% during the second quarter. Wells Fargo & Company MN now owns 783,708 shares of the basic materials company’s stock worth $58,465,000 after acquiring an additional 365,772 shares during the period. Neuberger Berman Group LLC grew its holdings in Bunge by 1,800.1% during the third quarter. Neuberger Berman Group LLC now owns 378,289 shares of the basic materials company’s stock worth $26,276,000 after acquiring an additional 358,380 shares during the period. Finally, Schwab Charles Investment Management Inc. grew its holdings in Bunge by 52.5% during the second quarter. Schwab Charles Investment Management Inc. now owns 810,842 shares of the basic materials company’s stock worth $60,489,000 after acquiring an additional 279,307 shares during the period. 79.86% of the stock is owned by institutional investors and hedge funds.
Bunge (NYSE:BG) last released its earnings results on Wednesday, November 1st. The basic materials company reported $0.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.79 by ($0.04). The firm had revenue of $11.42 billion during the quarter, compared to analyst estimates of $11.87 billion. Bunge had a net margin of 1.06% and a return on equity of 6.68%. Bunge’s quarterly revenue was up .0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.73 EPS. equities analysts anticipate that Bunge will post 2.97 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 2nd. Shareholders of record on Friday, February 16th will be given a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 2.78%. The ex-dividend date is Thursday, February 15th. Bunge’s payout ratio is 57.68%.
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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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