Bunge Global (NYSE:BG) Hits New 52-Week Low on Disappointing Earnings

Shares of Bunge Global SA (NYSE:BG) hit a new 52-week low on Thursday after the company announced weaker than expected quarterly earnings. The company traded as low as $69.73 and last traded at $69.82, with a volume of 3596799 shares trading hands. The stock had previously closed at $75.02.

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

Analysts Set New Price Targets

BG has been the subject of several recent analyst reports. Barclays decreased their target price on Bunge Global from $95.00 to $85.00 and set an “equal weight” rating for the company in a research note on Thursday. Stephens cut their price target on shares of Bunge Global from $110.00 to $105.00 in a research note on Monday, February 3rd. Three investment analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Bunge Global has a consensus rating of “Moderate Buy” and an average target price of $109.17.

Institutional Investors Weigh In On Bunge Global

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Moors & Cabot Inc. grew its holdings in Bunge Global by 15.3% during the 4th quarter. Moors & Cabot Inc. now owns 7,532 shares of the basic materials company’s stock worth $586,000 after acquiring an additional 1,000 shares during the period. Daiwa Securities Group Inc. lifted its stake in Bunge Global by 9.5% in the fourth quarter. Daiwa Securities Group Inc. now owns 33,384 shares of the basic materials company’s stock valued at $2,596,000 after buying an additional 2,895 shares in the last quarter. Moran Wealth Management LLC increased its position in shares of Bunge Global by 571.5% during the fourth quarter. Moran Wealth Management LLC now owns 47,730 shares of the basic materials company’s stock worth $3,711,000 after acquiring an additional 40,622 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Bunge Global by 3.0% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 47,702 shares of the basic materials company’s stock worth $3,709,000 after acquiring an additional 1,406 shares in the last quarter. Finally, Ruffer LLP acquired a new stake in shares of Bunge Global during the fourth quarter worth $8,414,000. Institutional investors and hedge funds own 86.23% of the company’s stock.

Bunge Global Stock Up 0.5 %

The firm has a market capitalization of $9.72 billion, a P/E ratio of 8.81 and a beta of 0.69. The firm’s 50-day moving average is $79.34 and its 200 day moving average is $89.86. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.10 and a current ratio of 2.07.

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.