Bunge (NYSE:BG) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Thursday.
According to Zacks, “Bunge Ltd. is an integrated global agribusiness and food company spanning the farm-to-consumer food chain. Bunge processes, produces, moves, distributes and markets food on five continents. “
Several other brokerages also recently commented on BG. JPMorgan Chase & Co. upgraded Bunge from a “neutral” rating to an “overweight” rating and set a $90.00 price objective on the stock in a research report on Wednesday, March 7th. Citigroup upgraded Bunge from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $77.99 to $89.00 in a research report on Tuesday, March 6th. Credit Suisse Group set a $84.00 price objective on Bunge and gave the company a “buy” rating in a research report on Monday, January 22nd. Stephens upgraded Bunge from an “equal weight” rating to an “overweight” rating in a research report on Thursday, February 15th. Finally, Piper Jaffray Companies restated a “buy” rating on shares of Bunge in a research report on Thursday, February 15th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company’s stock. Bunge has a consensus rating of “Buy” and a consensus price target of $85.86.
Bunge (NYSE:BG) last released its earnings results on Wednesday, February 14th. The basic materials company reported $0.67 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.48 by ($0.81). The company had revenue of $11.61 billion for the quarter, compared to analysts’ expectations of $12.57 billion. Bunge had a net margin of 0.35% and a return on equity of 4.36%. Bunge’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.70 earnings per share. sell-side analysts anticipate that Bunge will post 3.9 earnings per share for the current fiscal year.
Several large investors have recently bought and sold shares of the stock. Xact Kapitalforvaltning AB lifted its position in shares of Bunge by 3.7% in the fourth quarter. Xact Kapitalforvaltning AB now owns 24,541 shares of the basic materials company’s stock worth $1,646,000 after buying an additional 876 shares in the last quarter. J. Goldman & Co LP purchased a new stake in shares of Bunge in the fourth quarter worth about $201,000. OLD Mutual Customised Solutions Proprietary Ltd. lifted its position in shares of Bunge by 35.0% in the fourth quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 10,800 shares of the basic materials company’s stock worth $724,000 after buying an additional 2,800 shares in the last quarter. Brookfield Asset Management Inc. lifted its position in shares of Bunge by 118.2% in the fourth quarter. Brookfield Asset Management Inc. now owns 12,000 shares of the basic materials company’s stock worth $805,000 after buying an additional 6,500 shares in the last quarter. Finally, Fairpointe Capital LLC lifted its position in shares of Bunge by 45.1% in the fourth quarter. Fairpointe Capital LLC now owns 1,334,905 shares of the basic materials company’s stock worth $89,546,000 after buying an additional 415,058 shares in the last quarter. Institutional investors own 79.37% of the company’s stock.
Bunge Company Profile
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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