Citigroup Lowers Bunge (BG) Price Target to $82.00

Bunge (NYSE:BG) had its price objective cut by Citigroup from $92.00 to $82.00 in a report released on Thursday. The firm presently has a “buy” rating on the basic materials company’s stock. Citigroup’s target price indicates a potential upside of 31.20% from the company’s previous close.

BG has been the topic of several other research reports. Zacks Investment Research raised Bunge from a “hold” rating to a “buy” rating and set a $74.00 price target on the stock in a research note on Friday, August 3rd. JPMorgan Chase & Co. raised Bunge to a “buy” rating and set a $82.00 price target on the stock in a research note on Monday, July 9th. ValuEngine raised Bunge from a “sell” rating to a “hold” rating in a research note on Tuesday, October 2nd. Finally, Credit Suisse Group decreased their price target on Bunge from $80.00 to $77.00 and set an “outperform” rating on the stock in a research note on Thursday, August 2nd. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $78.40.

NYSE BG opened at $62.50 on Thursday. The firm has a market cap of $8.70 billion, a price-to-earnings ratio of 32.22 and a beta of 1.11. The company has a current ratio of 1.49, a quick ratio of 0.71 and a debt-to-equity ratio of 0.82. Bunge has a fifty-two week low of $61.26 and a fifty-two week high of $83.20.

Bunge (NYSE:BG) last released its quarterly earnings data on Wednesday, October 31st. The basic materials company reported $2.52 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.39 by $0.13. The company had revenue of $11.41 billion for the quarter, compared to analyst estimates of $11.95 billion. Bunge had a return on equity of 7.64% and a net margin of 0.59%. The firm’s revenue for the quarter was down .1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.75 earnings per share. Equities analysts anticipate that Bunge will post 5.3 EPS for the current year.

Several hedge funds have recently bought and sold shares of BG. Stifel Financial Corp raised its holdings in shares of Bunge by 25.3% in the 1st quarter. Stifel Financial Corp now owns 5,326 shares of the basic materials company’s stock valued at $392,000 after buying an additional 1,075 shares during the period. Principal Financial Group Inc. increased its holdings in Bunge by 11.0% during the 1st quarter. Principal Financial Group Inc. now owns 95,294 shares of the basic materials company’s stock worth $7,046,000 after purchasing an additional 9,447 shares during the period. CIBC World Markets Inc. purchased a new stake in Bunge during the 1st quarter worth about $399,000. American National Bank purchased a new stake in Bunge during the 2nd quarter worth about $5,913,000. Finally, DnB Asset Management AS purchased a new stake in Bunge during the 2nd quarter worth about $30,362,000. Hedge funds and other institutional investors own 80.66% of the company’s stock.

Bunge Company Profile

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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Analyst Recommendations for Bunge (NYSE:BG)

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