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

Bunge Global SA (NYSE:BG)’s share price hit a new 52-week low during trading 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 traded. The stock had previously closed at $75.02.

The basic materials company reported $2.13 earnings per share (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

BG has been the topic of several research analyst reports. Stephens lowered their price target on shares of Bunge Global from $110.00 to $105.00 in a report on Monday, February 3rd. Barclays decreased their target price on shares of Bunge Global from $95.00 to $85.00 and set an “equal weight” rating on the stock in a report on Thursday. Three equities research 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 company’s stock. According to MarketBeat, Bunge Global presently has an average rating of “Moderate Buy” and a consensus price target of $109.17.

Institutional Investors Weigh In On Bunge Global

Hedge funds and other institutional investors have recently bought and sold shares of the company. Franklin Resources Inc. grew its position in shares of Bunge Global by 16.9% in the 3rd quarter. Franklin Resources Inc. now owns 274,096 shares of the basic materials company’s stock valued at $26,371,000 after buying an additional 39,646 shares during the last quarter. Hennion & Walsh Asset Management Inc. lifted its position in shares of Bunge Global by 7.7% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 3,879 shares of the basic materials company’s stock valued at $302,000 after acquiring an additional 278 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 worth $13,871,000 after purchasing an additional 15,241 shares in the last quarter. iA Global Asset Management Inc. acquired a new stake in Bunge Global in the third quarter valued at approximately $888,000. Finally, State Street Corp increased its stake in Bunge Global by 7.6% during the 3rd 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 in the last quarter. Institutional investors own 86.23% of the company’s stock.

Bunge Global Stock Up 0.5 %

The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.10 and a current ratio of 2.07. The stock’s fifty day moving average is $79.34 and its two-hundred day moving average is $89.86. The company has a market cap of $9.72 billion, a price-to-earnings ratio of 8.81 and a beta of 0.69.

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.