Bunge Global (NYSE:BG) Reaches New 52-Week Low After Earnings Miss

Bunge Global SA (NYSE:BG) reached a new 52-week low during trading on Thursday following a dissappointing earnings announcement. The company traded as low as $69.73 and last traded at $69.82, with a volume of 3596799 shares traded. The stock had previously closed at $75.02.

The basic materials company reported $2.13 EPS for the quarter, missing the consensus estimate of $2.30 by ($0.17). Bunge Global had a net margin of 2.11% and a return on equity of 13.71%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on BG. Stephens cut their target price on shares of Bunge Global from $110.00 to $105.00 in a research note on Monday. Barclays cut Bunge Global from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $115.00 to $95.00 in a research note on Tuesday, January 21st. Three analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $110.83.

Hedge Funds Weigh In On Bunge Global

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Franklin Resources Inc. grew its holdings in Bunge Global by 16.9% during the third quarter. Franklin Resources Inc. now owns 274,096 shares of the basic materials company’s stock worth $26,371,000 after acquiring an additional 39,646 shares during the period. Swedbank AB boosted its position in shares of Bunge Global by 11.9% during the 3rd quarter. Swedbank AB now owns 143,534 shares of the basic materials company’s stock valued at $13,871,000 after purchasing an additional 15,241 shares in the last quarter. Hennion & Walsh Asset Management Inc. grew its stake in shares of Bunge Global by 7.7% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 3,879 shares of the basic materials company’s stock worth $302,000 after purchasing an additional 278 shares during the last quarter. iA Global Asset Management Inc. bought a new stake in shares of Bunge Global in the 3rd quarter worth approximately $888,000. Finally, State Street Corp lifted its stake in Bunge Global by 7.6% during the third quarter. State Street Corp now owns 7,051,601 shares of the basic materials company’s stock valued at $681,467,000 after purchasing an additional 500,897 shares during the last quarter. 86.23% of the stock is owned by institutional investors.

Bunge Global Stock Down 6.9 %

The company has a debt-to-equity ratio of 0.43, a current ratio of 2.07 and a quick ratio of 1.10. The stock has a market capitalization of $9.75 billion, a P/E ratio of 8.84 and a beta of 0.69. The stock’s fifty day moving average is $80.13 and its two-hundred day moving average is $90.31.

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.