Bunge Ltd (NYSE:BG) Receives Consensus Recommendation of “Buy” from Analysts

Bunge Ltd (NYSE:BG) has earned a consensus recommendation of “Buy” from the nine brokerages that are presently covering the stock, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $68.25.

Several research analysts have recently issued reports on the company. ValuEngine cut Bunge from a “buy” rating to a “hold” rating in a research note on Friday, November 1st. Stephens assumed coverage on Bunge in a research note on Tuesday, October 8th. They issued an “overweight” rating and a $74.00 price objective for the company. Credit Suisse Group restated a “buy” rating on shares of Bunge in a research note on Monday, November 4th. Zacks Investment Research upgraded Bunge from a “sell” rating to a “hold” rating in a research note on Wednesday, November 6th. Finally, Goldman Sachs Group upgraded Bunge from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $64.00 to $67.00 in a research note on Tuesday.

In related news, insider Jerry Matthews Simmons, Jr. sold 1,786 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $54.65, for a total transaction of $97,604.90. Following the sale, the insider now directly owns 11,323 shares of the company’s stock, valued at $618,801.95. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 3.18% of the stock is owned by company insiders.

A number of institutional investors have recently bought and sold shares of BG. Usca Ria LLC acquired a new stake in Bunge in the third quarter valued at approximately $45,000. Penserra Capital Management LLC grew its holdings in Bunge by 88.8% in the third quarter. Penserra Capital Management LLC now owns 906 shares of the basic materials company’s stock valued at $50,000 after purchasing an additional 426 shares during the period. Advisory Services Network LLC grew its holdings in Bunge by 756.0% in the second quarter. Advisory Services Network LLC now owns 1,070 shares of the basic materials company’s stock valued at $60,000 after purchasing an additional 945 shares during the period. Rockefeller Capital Management L.P. grew its holdings in Bunge by 8,370.6% in the second quarter. Rockefeller Capital Management L.P. now owns 1,440 shares of the basic materials company’s stock valued at $80,000 after purchasing an additional 1,423 shares during the period. Finally, Steward Partners Investment Advisory LLC acquired a new stake in Bunge in the second quarter valued at approximately $92,000. 78.46% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE:BG traded down $0.16 during trading on Monday, hitting $55.77. The stock had a trading volume of 854,141 shares, compared to its average volume of 753,149. Bunge has a 12-month low of $47.26 and a 12-month high of $60.20. The stock has a market capitalization of $7.83 billion, a price-to-earnings ratio of 20.50 and a beta of 0.86. The company has a quick ratio of 0.73, a current ratio of 1.47 and a debt-to-equity ratio of 1.29. The stock has a 50-day simple moving average of $54.66 and a two-hundred day simple moving average of $55.41.

Bunge (NYSE:BG) last announced its quarterly earnings data on Wednesday, October 30th. The basic materials company reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.87. Bunge had a positive return on equity of 9.31% and a negative net margin of 3.09%. The firm had revenue of $10.32 billion during the quarter, compared to analysts’ expectations of $11.14 billion. During the same period last year, the business posted $2.52 earnings per share. The company’s revenue for the quarter was down 9.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Bunge will post 2.95 earnings per share for the current year.

About Bunge

Bunge Limited operates as an agribusiness and food company worldwide. It operates in 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 grains primarily wheat and corn; and vegetable oils and protein meals.

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Analyst Recommendations for Bunge (NYSE:BG)

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