Bunge Ltd (BG) Receives $81.60 Average Price Target from Analysts

Bunge Ltd (NYSE:BG) has been assigned a consensus rating of “Buy” from the nine research firms that are currently covering the firm, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $82.75.

A number of equities analysts have commented on BG shares. Zacks Investment Research upgraded shares of Bunge from a “hold” rating to a “buy” rating and set a $76.00 target price on the stock in a research note on Tuesday, July 24th. ValuEngine downgraded shares of Bunge from a “hold” rating to a “sell” rating in a research note on Wednesday, July 11th. Citigroup dropped their target price on shares of Bunge from $100.00 to $92.00 and set a “buy” rating on the stock in a research note on Thursday, August 2nd. Credit Suisse Group dropped their target price on shares of Bunge from $80.00 to $77.00 and set an “outperform” rating on the stock in a research note on Thursday, August 2nd. Finally, JPMorgan Chase & Co. downgraded shares of Bunge from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $82.00 to $75.00 in a research note on Thursday, August 2nd.

Bunge stock traded up $1.00 during midday trading on Wednesday, reaching $68.21. The stock had a trading volume of 45,910 shares, compared to its average volume of 1,576,482. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.49 and a quick ratio of 0.71. Bunge has a 52-week low of $61.28 and a 52-week high of $83.20. The firm has a market capitalization of $9.67 billion, a P/E ratio of 34.78 and a beta of 1.12.

Bunge (NYSE:BG) last posted its quarterly earnings data on Wednesday, August 1st. The basic materials company reported $0.10 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.04 by ($0.94). The company had revenue of $12.15 billion for the quarter, compared to the consensus estimate of $12.03 billion. During the same quarter in the prior year, the business earned $0.17 earnings per share. Bunge’s revenue for the quarter was up 4.3% compared to the same quarter last year. Research analysts anticipate that Bunge will post 5.24 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, December 3rd. Investors of record on Monday, November 19th will be given a dividend of $0.50 per share. The ex-dividend date is Friday, November 16th. This represents a $2.00 dividend on an annualized basis and a yield of 2.93%. Bunge’s payout ratio is 103.09%.

A number of large investors have recently bought and sold shares of the stock. BlackRock Inc. raised its holdings in shares of Bunge by 41.4% in the second quarter. BlackRock Inc. now owns 12,076,742 shares of the basic materials company’s stock worth $841,871,000 after buying an additional 3,535,679 shares during the last quarter. ING Groep NV purchased a new position in shares of Bunge in the second quarter worth $64,707,000. Renaissance Technologies LLC raised its holdings in shares of Bunge by 81.4% in the second quarter. Renaissance Technologies LLC now owns 1,429,997 shares of the basic materials company’s stock worth $99,685,000 after buying an additional 641,597 shares during the last quarter. Virginia Retirement Systems ET AL purchased a new position in shares of Bunge in the second quarter worth $38,152,000. Finally, Wells Fargo & Company MN raised its holdings in shares of Bunge by 67.8% in the second quarter. Wells Fargo & Company MN now owns 1,243,966 shares of the basic materials company’s stock worth $86,718,000 after buying an additional 502,598 shares during the last quarter. 80.43% of the stock is owned by institutional investors.

Bunge Company Profile

Bunge Limited operates as an agribusiness and food company worldwide. It operates through five segments: Agribusiness, Edible Oil Products, Milling Products, Sugar and Bioenergy, and Fertilizer. The Agribusiness segment purchases, stores, transports, processes, and sells agricultural commodities and commodity products, including oilseeds primarily soybeans, rapeseed, canola, and sunflower seeds, as well as grain, such as wheat and corn; and vegetable oils and protein meals.

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Analyst Recommendations for Bunge (NYSE:BG)

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