Bunge Ltd. (BG) Stock Price Up 1.2%
Bunge Ltd. (NYSE:BG)’s share price rose 1.2% during trading on Wednesday . The stock traded as high as $63.68 and last traded at $63.30, with a volume of 769,684 shares changing hands. The stock had previously closed at $62.52.
Several equities analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of Bunge from a “hold” rating to a “buy” rating and set a $66.00 price target on the stock in a report on Thursday, June 30th. Morgan Stanley reiterated a “neutral” rating on shares of Bunge in a report on Thursday, June 16th. BMO Capital Markets reiterated an “outperform” rating and issued a $72.00 price target on shares of Bunge in a report on Monday, August 1st. BB&T Corp. assumed coverage on shares of Bunge in a report on Tuesday, July 12th. They issued a “buy” rating and a $75.00 price target on the stock. Finally, Bank of America Corp. upgraded shares of Bunge from a “neutral” rating to a “buy” rating in a report on Tuesday, August 2nd. Three analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $73.13.
The stock has a market cap of $8.90 billion and a price-to-earnings ratio of 12.29. The company has a 50 day moving average price of $63.36 and a 200 day moving average price of $59.88.
Bunge (NYSE:BG) last announced its quarterly earnings data on Thursday, July 28th. The company reported $0.79 EPS for the quarter, topping the Zacks’ consensus estimate of $0.38 by $0.41. The company had revenue of $10.50 billion for the quarter, compared to analyst estimates of $10.08 billion. During the same period in the prior year, the firm posted $0.50 earnings per share. The business’s quarterly revenue was down 2.2% compared to the same quarter last year. Equities analysts forecast that Bunge Ltd. will post $5.35 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 2nd. Stockholders of record on Friday, November 18th will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.69%. The ex-dividend date of this dividend is Wednesday, November 16th.
An institutional investor recently raised its position in Bunge stock. BNP Paribas Arbitrage SA increased its position in Bunge Ltd. (NYSE:BG) by 27.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 93,065 shares of the company’s stock after buying an additional 19,978 shares during the period. BNP Paribas Arbitrage SA owned about 0.07% of Bunge worth $6,354,000 as of its most recent SEC filing.
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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.