Bunge Global SA (NYSE:BG) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Bunge Global SA (NYSE:BG) have earned an average recommendation of “Moderate Buy” from the ten ratings firms that are covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $121.00.

BG has been the subject of several analyst reports. The Goldman Sachs Group decreased their target price on shares of Bunge Global from $141.00 to $126.00 and set a “buy” rating for the company in a research note on Tuesday, February 13th. Barclays dropped their price objective on shares of Bunge Global from $125.00 to $115.00 and set an “overweight” rating on the stock in a report on Tuesday, January 23rd. Roth Mkm lowered their target price on shares of Bunge Global from $161.00 to $138.00 and set a “buy” rating on the stock in a research note on Monday, February 5th. HSBC upgraded shares of Bunge Global from a “hold” rating to a “buy” rating and reduced their price objective for the company from $122.00 to $105.00 in a research report on Friday, February 9th. Finally, StockNews.com cut shares of Bunge Global from a “buy” rating to a “hold” rating in a report on Monday, February 26th.

Bunge Global Stock Down 1.6 %

Shares of NYSE:BG opened at $104.06 on Friday. The company has a market cap of $14.67 billion, a price-to-earnings ratio of 6.99 and a beta of 0.64. Bunge Global has a fifty-two week low of $86.10 and a fifty-two week high of $116.59. The firm’s 50-day simple moving average is $99.28 and its 200-day simple moving average is $100.01. The company has a quick ratio of 1.20, a current ratio of 2.13 and a debt-to-equity ratio of 0.35.

Bunge Global (NYSE:BG) last posted its quarterly earnings data on Wednesday, April 24th. The basic materials company reported $3.04 earnings per share for the quarter, beating analysts’ consensus estimates of $2.55 by $0.49. Bunge Global had a net margin of 3.77% and a return on equity of 18.30%. The business had revenue of $13.42 billion during the quarter, compared to analyst estimates of $13.96 billion. During the same quarter in the previous year, the business posted $3.26 earnings per share. The company’s revenue was down 12.5% on a year-over-year basis. As a group, equities research analysts predict that Bunge Global will post 9.26 earnings per share for the current year.

Hedge Funds Weigh In On Bunge Global

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Norges Bank bought a new stake in shares of Bunge Global during the 4th quarter valued at about $128,092,000. LSV Asset Management boosted its position in shares of Bunge Global by 86.8% during the 4th quarter. LSV Asset Management now owns 1,430,760 shares of the basic materials company’s stock valued at $144,435,000 after purchasing an additional 664,632 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Bunge Global by 28.9% in the third quarter. Bank of New York Mellon Corp now owns 2,942,342 shares of the basic materials company’s stock worth $318,509,000 after acquiring an additional 659,471 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Bunge Global by 3.1% in the fourth quarter. Vanguard Group Inc. now owns 18,954,832 shares of the basic materials company’s stock worth $1,913,490,000 after acquiring an additional 578,065 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec bought a new position in Bunge Global in the third quarter worth approximately $30,032,000. Institutional investors and hedge funds own 86.23% of the company’s stock.

Bunge Global Company Profile

Bunge Global SA operates as an agribusiness and food company worldwide. It operates through four segments: Agribusiness, Refined and Specialty Oils, Milling, and Sugar and Bioenergy. 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 comprising wheat and corn; and processes oilseeds into vegetable oils and protein meals.