Bunge Global (NYSE:BG) Sets New 52-Week Low – What’s Next?

by · The Markets Daily

Bunge Global SA (NYSE:BG – Get Free Report) reached a new 52-week low on Wednesday . The company traded as low as $85.08 and last traded at $85.18, with a volume of 1495444 shares trading hands. The stock had previously closed at $87.84.

Wall Street Analysts Forecast Growth

Separately, Citigroup downgraded 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 report on Thursday, August 1st. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $118.00.

View Our Latest Analysis on Bunge Global

Bunge Global Stock Performance

The stock has a 50-day moving average of $96.44 and a 200 day moving average of $102.06. The firm has a market capitalization of $12.20 billion, a P/E ratio of 7.07 and a beta of 0.64. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.97 and a current ratio of 2.03.

Bunge Global (NYSE:BG – Get Free Report) last announced 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). The business had revenue of $13.24 billion for the quarter, compared to the consensus estimate of $14.30 billion. Bunge Global had a return on equity of 14.84% and a net margin of 2.33%. Bunge Global’s revenue for the quarter was down 12.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.72 EPS. On average, research analysts anticipate that Bunge Global SA will post 9.3 earnings per share for the current year.

Hedge Funds Weigh In On Bunge Global

Large investors have recently made changes to their positions in the company. QRG Capital Management Inc. raised its stake in shares of Bunge Global by 7.8% during the third quarter. QRG Capital Management Inc. now owns 5,565 shares of the basic materials company’s stock worth $538,000 after buying an additional 404 shares during the last quarter. National Pension Service grew its holdings in Bunge Global by 1.6% during the 3rd quarter. National Pension Service now owns 310,617 shares of the basic materials company’s stock worth $30,018,000 after acquiring an additional 4,995 shares during the period. KG&L Capital Management LLC acquired a new position in shares of Bunge Global in the 3rd quarter valued at $319,000. Van ECK Associates Corp boosted its position in shares of Bunge Global by 13.2% in the 3rd quarter. Van ECK Associates Corp now owns 547,650 shares of the basic materials company’s stock worth $48,735,000 after purchasing an additional 63,800 shares during the last quarter. Finally, Farther Finance Advisors LLC grew its stake in shares of Bunge Global by 40.1% during the third quarter. Farther Finance Advisors LLC now owns 433 shares of the basic materials company’s stock worth $42,000 after purchasing an additional 124 shares during the period. Institutional investors and hedge funds own 86.23% of the company’s stock.

About Bunge Global

(Get Free Report)

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.

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