Bunge (BG) Price Target Cut to $83.00

Bunge (NYSE:BG) had its price target cut by investment analysts at BMO Capital Markets from $87.00 to $83.00 in a report released on Thursday. The brokerage currently has an “outperform” rating on the basic materials company’s stock. BMO Capital Markets’ price objective indicates a potential upside of 33.78% from the company’s previous close.

Other research analysts have also recently issued research reports about the stock. Zacks Investment Research upgraded shares of Bunge from a “hold” rating to a “buy” rating and set a $74.00 price target for the company in a report on Friday, August 3rd. Citigroup lowered their price target on shares of Bunge from $100.00 to $92.00 and set a “buy” rating for the company in a report on Thursday, August 2nd. JPMorgan Chase & Co. upgraded shares of Bunge to a “buy” rating and set a $82.00 price target for the company in a report on Monday, July 9th. ValuEngine upgraded shares of Bunge from a “sell” rating to a “hold” rating in a report on Tuesday, October 2nd. Finally, Credit Suisse Group lowered their price target on shares of Bunge from $80.00 to $77.00 and set an “outperform” rating for the company in a report on Thursday, August 2nd. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $78.40.

NYSE BG traded up $0.24 on Thursday, hitting $62.04. 160,605 shares of the stock were exchanged, compared to its average volume of 1,375,284. The company has a quick ratio of 0.71, a current ratio of 1.49 and a debt-to-equity ratio of 0.82. Bunge has a fifty-two week low of $61.28 and a fifty-two week high of $83.20. The stock has a market capitalization of $9.57 billion, a PE ratio of 31.96 and a beta of 1.12.

Bunge (NYSE:BG) last posted its quarterly earnings results on Wednesday, October 31st. The basic materials company reported $2.52 EPS for the quarter, topping the consensus estimate of $2.39 by $0.13. The firm had revenue of $11.41 billion for the quarter, compared to analyst estimates of $11.95 billion. During the same quarter last year, the firm earned $0.75 EPS. The company’s revenue was down .1% on a year-over-year basis. On average, equities research analysts expect that Bunge will post 5.3 earnings per share for the current fiscal year.

A number of hedge funds have recently added to or reduced their stakes in BG. Steward Partners Investment Advisory LLC raised its position in Bunge by 7,200.0% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 1,460 shares of the basic materials company’s stock valued at $102,000 after purchasing an additional 1,440 shares during the last quarter. Cutler Capital Management LLC purchased a new stake in Bunge in the 3rd quarter valued at $206,000. Truvestments Capital LLC purchased a new stake in Bunge in the 2nd quarter valued at $209,000. Gideon Capital Advisors Inc. purchased a new stake in Bunge in the 2nd quarter valued at $226,000. Finally, First Hawaiian Bank purchased a new stake in Bunge in the 3rd quarter valued at $273,000. Hedge funds and other institutional investors own 80.66% of the company’s stock.

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.

See Also: Do stock splits help investors?

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.

Leave a Reply