Bunge (NYSE:BG) announced its quarterly earnings results on Wednesday, May 2nd. The basic materials company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.16) by $0.10, Bloomberg Earnings reports. Bunge had a net margin of 0.20% and a return on equity of 3.55%. The company had revenue of $10.64 billion for the quarter, compared to the consensus estimate of $11.40 billion. During the same quarter in the prior year, the firm earned $0.35 earnings per share. The company’s revenue for the quarter was down 4.3% compared to the same quarter last year.
Bunge stock opened at $70.69 on Friday. The stock has a market cap of $9.93 billion, a price-to-earnings ratio of 46.14 and a beta of 1.15. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.75 and a current ratio of 1.56. Bunge has a 52 week low of $70.40 and a 52 week high of $71.14.
The business also recently announced a quarterly dividend, which will be paid on Monday, June 4th. Shareholders of record on Wednesday, March 21st will be paid a dividend of $0.46 per share. The ex-dividend date of this dividend is Friday, May 18th. This represents a $1.84 annualized dividend and a yield of 2.60%. Bunge’s payout ratio is 94.85%.
Several research analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of Bunge from a “sell” rating to a “hold” rating in a research note on Thursday, March 15th. JPMorgan Chase raised shares of Bunge from a “neutral” rating to an “overweight” rating and set a $90.00 target price on the stock in a report on Wednesday, March 7th. Credit Suisse Group dropped their target price on shares of Bunge from $84.00 to $80.00 and set a “buy” rating on the stock in a report on Thursday, May 3rd. Citigroup increased their price objective on shares of Bunge to $100.00 and gave the stock a “buy” rating in a report on Thursday, May 3rd. Finally, Stephens raised shares of Bunge from an “equal weight” rating to an “overweight” rating in a report on Thursday, February 15th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and eight have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $85.57.
Large investors have recently bought and sold shares of the company. Fox Run Management L.L.C. bought a new position in shares of Bunge during the 4th quarter valued at about $760,000. Alliancebernstein L.P. boosted its holdings in shares of Bunge by 6.9% in the fourth quarter. Alliancebernstein L.P. now owns 180,584 shares of the basic materials company’s stock worth $12,114,000 after buying an additional 11,633 shares during the period. Levin Capital Strategies L.P. boosted its holdings in shares of Bunge by 15.0% in the fourth quarter. Levin Capital Strategies L.P. now owns 11,704 shares of the basic materials company’s stock worth $785,000 after buying an additional 1,527 shares during the period. TIAA CREF Investment Management LLC boosted its holdings in shares of Bunge by 13.6% in the fourth quarter. TIAA CREF Investment Management LLC now owns 1,136,324 shares of the basic materials company’s stock worth $76,225,000 after buying an additional 135,786 shares during the period. Finally, Candriam Luxembourg S.C.A. boosted its holdings in shares of Bunge by 103.0% in the fourth quarter. Candriam Luxembourg S.C.A. now owns 18,540 shares of the basic materials company’s stock worth $1,244,000 after buying an additional 9,407 shares during the period. Institutional investors own 78.55% of the company’s stock.
Bunge Limited operates as an agribusiness and food company worldwide. It operates through 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 grain, such as wheat and corn; and vegetable oils and protein meals.
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