Bunge (NYSE:BG) PT Lowered to $92.00 at Morgan Stanley

Bunge (NYSE:BG) had its price objective trimmed by Morgan Stanley from $98.00 to $92.00 in a research note released on Thursday, Analyst Price Targets reports. The firm currently has an equal weight rating on the basic materials company’s stock.

Several other analysts have also weighed in on the company. JPMorgan Chase & Co. initiated coverage on Bunge in a report on Wednesday. They set a hold rating and a $94.00 price target on the stock. Stephens increased their price target on Bunge from $100.00 to $110.00 and gave the company an overweight rating in a report on Thursday, October 28th. BMO Capital Markets increased their price target on Bunge from $98.00 to $108.00 and gave the company an outperform rating in a report on Thursday, October 28th. Barclays increased their price target on Bunge from $100.00 to $110.00 and gave the company an overweight rating in a report on Thursday, October 28th. Finally, Zacks Investment Research upgraded Bunge from a hold rating to a buy rating and set a $98.00 price target on the stock in a report on Friday, October 22nd. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Bunge currently has a consensus rating of Buy and an average target price of $98.22.

Shares of BG opened at $98.71 on Thursday. The stock has a market capitalization of $13.87 billion, a price-to-earnings ratio of 6.20, a price-to-earnings-growth ratio of 1.56 and a beta of 0.65. Bunge has a 1 year low of $62.07 and a 1 year high of $99.93. The business’s 50 day simple moving average is $91.71 and its 200-day simple moving average is $84.13. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.69 and a quick ratio of 0.87.

Bunge (NYSE:BG) last issued its quarterly earnings data on Tuesday, October 26th. The basic materials company reported $3.72 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.42 by $2.30. The business had revenue of $14.12 billion for the quarter, compared to analysts’ expectations of $13.89 billion. Bunge had a return on equity of 29.63% and a net margin of 4.31%. The company’s revenue for the quarter was up 39.0% on a year-over-year basis. During the same period in the prior year, the firm earned $2.47 EPS. On average, sell-side analysts expect that Bunge will post 12.19 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 2nd. Stockholders of record on Wednesday, February 16th will be given a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a dividend yield of 2.13%. The ex-dividend date of this dividend is Tuesday, February 15th. Bunge’s payout ratio is 13.20%.

In other news, EVP Deborah Borg sold 769 shares of the stock in a transaction on Monday, October 25th. The stock was sold at an average price of $88.59, for a total transaction of $68,125.71. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 36,224 shares of company stock worth $3,198,682 in the last three months. Corporate insiders own 3.70% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of BG. McIlrath & Eck LLC grew its position in shares of Bunge by 120.6% during the 3rd quarter. McIlrath & Eck LLC now owns 311 shares of the basic materials company’s stock worth $25,000 after buying an additional 170 shares in the last quarter. Hudock Inc. bought a new position in shares of Bunge during the 3rd quarter worth $32,000. First Quadrant L P CA grew its position in shares of Bunge by 32.6% during the 3rd quarter. First Quadrant L P CA now owns 517 shares of the basic materials company’s stock worth $42,000 after buying an additional 127 shares in the last quarter. Kozak & Associates Inc. bought a new position in shares of Bunge during the 3rd quarter worth $47,000. Finally, Signaturefd LLC boosted its position in Bunge by 15.0% during the third quarter. Signaturefd LLC now owns 889 shares of the basic materials company’s stock valued at $72,000 after purchasing an additional 116 shares in the last quarter. 83.16% of the stock is currently owned by institutional investors and hedge funds.

Bunge Company Profile

Bunge Ltd. operates as a holding company, which engages in the supply and transportation of agricultural commodities. It operates through the following segments: Agribusiness, Edible Oil Products, Milling Products, Sugar and Bioenergy, and Fertilizer. The Agribusiness segment involves in the purchase, storage, transportation, processing, and sale of agricultural commodities and commodity products.

Recommended Story: Reverse Stock Split

Analyst Recommendations for Bunge (NYSE:BG)

Receive News & Ratings for Bunge Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bunge and related companies with MarketBeat.com's FREE daily email newsletter.