Bunge Global SA (NYSE:BG) Given Consensus Rating of “Moderate Buy” by Brokerages

Bunge Global SA (NYSE:BG) has been assigned an average rating of “Moderate Buy” from the eight research firms that are currently covering the stock, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $118.00.

Separately, Citigroup cut Bunge Global from a “buy” rating to a “neutral” rating and cut their target price for the stock from $125.00 to $114.00 in a research note on Thursday, August 1st.

Bunge Global Stock Up 1.9 %

Shares of NYSE BG opened at $97.73 on Monday. Bunge Global has a 52 week low of $86.10 and a 52 week high of $114.92. The stock’s fifty day moving average is $100.11 and its 200 day moving average is $103.28. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.97 and a current ratio of 2.03. The stock has a market capitalization of $13.84 billion, a P/E ratio of 7.87 and a beta of 0.65.

Bunge Global (NYSE:BG) last issued its earnings results on Wednesday, July 31st. The basic materials company reported $1.73 EPS for the quarter, missing the consensus estimate of $1.79 by ($0.06). Bunge Global had a net margin of 2.33% and a return on equity of 14.84%. The firm had revenue of $13.24 billion during the quarter, compared to analyst estimates of $14.30 billion. During the same quarter in the previous year, the firm posted $3.72 earnings per share. Bunge Global’s quarterly revenue was down 12.0% compared to the same quarter last year. Sell-side analysts forecast that Bunge Global will post 9.3 earnings per share for the current fiscal year.

Institutional Trading of Bunge Global

A number of hedge funds have recently added to or reduced their stakes in the stock. Altshuler Shaham Ltd acquired a new stake in shares of Bunge Global during the second quarter valued at about $28,000. Blue Trust Inc. boosted its position in Bunge Global by 52.3% during the 2nd quarter. Blue Trust Inc. now owns 297 shares of the basic materials company’s stock worth $30,000 after buying an additional 102 shares during the period. Farmers & Merchants Investments Inc. grew its holdings in Bunge Global by 185.2% during the 2nd quarter. Farmers & Merchants Investments Inc. now owns 308 shares of the basic materials company’s stock worth $33,000 after acquiring an additional 200 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in Bunge Global in the 2nd quarter valued at approximately $40,000. Finally, Atlas Capital Advisors LLC raised its stake in shares of Bunge Global by 261.3% during the second quarter. Atlas Capital Advisors LLC now owns 383 shares of the basic materials company’s stock valued at $41,000 after acquiring an additional 277 shares during the last quarter. Institutional investors and hedge funds own 86.23% of the company’s stock.

About Bunge Global

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.