Bunge Ltd. (NYSE:BG) – Research analysts at Feltl & Co. dropped their Q3 2016 earnings per share (EPS) estimates for Bunge in a research report issued on Wednesday. Feltl & Co. analyst B. Rystrom now forecasts that the firm will earn $1.12 per share for the quarter, down from their previous forecast of $1.75. Feltl & Co. also issued estimates for Bunge’s Q4 2016 earnings at $1.87 EPS and FY2016 earnings at $5.03 EPS.
BG has been the topic of a number of other reports. Zacks Investment Research cut Bunge from a “hold” rating to a “sell” rating in a report on Monday, October 3rd. Morgan Stanley reaffirmed a “neutral” rating on shares of Bunge in a research report on Thursday, June 16th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $72.00 target price on shares of Bunge in a research report on Monday, August 1st. BB&T Corp. assumed coverage on Bunge in a research report on Tuesday, July 12th. They issued a “buy” rating and a $75.00 target price for the company. Finally, Bank of America Corp. raised Bunge from a “neutral” rating to a “buy” rating in a research report on Tuesday, August 2nd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company. Bunge currently has an average rating of “Buy” and a consensus target price of $73.13.
Shares of Bunge (NYSE:BG) opened at 60.96 on Friday. Bunge has a 1-year low of $46.08 and a 1-year high of $79.87. The stock has a 50 day moving average price of $61.59 and a 200-day moving average price of $61.35. The firm has a market cap of $8.50 billion, a price-to-earnings ratio of 11.74 and a beta of 0.95.
Bunge (NYSE:BG) last posted its earnings results on Thursday, July 28th. The company reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.41. Bunge had a return on equity of 12.02% and a net margin of 1.90%. The business earned $10.50 billion during the quarter, compared to analyst estimates of $10.08 billion. During the same quarter last year, the firm earned $0.50 earnings per share. The company’s revenue for the quarter was down 2.2% compared to the same quarter last year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 2nd. Investors of record on Friday, November 18th will be given a dividend of $0.42 per share. The ex-dividend date is Wednesday, November 16th. This represents a $1.68 dividend on an annualized basis and a yield of 2.76%. Bunge’s payout ratio is 32.43%.
Hedge funds have recently added to or reduced their stakes in the stock. Harding Loevner LP boosted its stake in Bunge by 0.5% in the second quarter. Harding Loevner LP now owns 4,656,905 shares of the company’s stock worth $275,446,000 after buying an additional 23,911 shares during the last quarter. State Street Corp boosted its stake in shares of Bunge by 4.5% in the first quarter. State Street Corp now owns 4,103,766 shares of the company’s stock worth $232,555,000 after buying an additional 176,764 shares in the last quarter. Carlson Capital L P boosted its stake in shares of Bunge by 18.6% in the second quarter. Carlson Capital L P now owns 3,100,200 shares of the company’s stock worth $183,377,000 after buying an additional 486,000 shares in the last quarter. FMR LLC boosted its stake in shares of Bunge by 28.9% in the second quarter. FMR LLC now owns 3,076,046 shares of the company’s stock worth $181,948,000 after buying an additional 690,006 shares in the last quarter. Finally, LSV Asset Management boosted its stake in shares of Bunge by 5.3% in the second quarter. LSV Asset Management now owns 2,857,032 shares of the company’s stock worth $168,993,000 after buying an additional 142,967 shares in the last quarter. 78.72% of the stock is owned by hedge funds and other institutional investors.
Bunge Limited is an agribusiness and food company with integrated operations that stretch from the farm field to consumer foods. The Agribusiness segment is involved in the purchase, storage, transport, processing and sale of agricultural commodities and commodity products. The Edible oil products and milling products segments include businesses that produce and sell edible oil based products, including vegetable oils, shortenings, margarines and mayonnaise, and milled grain products, such as wheat flours, corn-based products and rice.
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