Bunge Global (NYSE:BG) Reaches New 12-Month Low on Disappointing Earnings

Bunge Global SA (NYSE:BG)’s stock price reached a new 52-week low during mid-day trading on Thursday after the company announced weaker than expected quarterly earnings. The stock 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 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%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on BG shares. Stephens decreased their price objective on Bunge Global from $110.00 to $105.00 in a report on Monday. Barclays decreased their price objective on 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 issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Bunge Global has a consensus rating of “Moderate Buy” and an average target price of $109.17.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Inceptionr LLC boosted its position in Bunge Global by 97.5% during the 4th quarter. Inceptionr LLC now owns 4,845 shares of the basic materials company’s stock valued at $377,000 after acquiring an additional 2,392 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Bunge Global during the 4th quarter valued at approximately $1,994,000. Arizona State Retirement System boosted its position in Bunge Global by 1.4% during the 4th quarter. Arizona State Retirement System now owns 41,143 shares of the basic materials company’s stock valued at $3,199,000 after acquiring an additional 576 shares in the last quarter. Aigen Investment Management LP boosted its position in Bunge Global by 367.2% during the 4th quarter. Aigen Investment Management LP now owns 22,644 shares of the basic materials company’s stock valued at $1,761,000 after acquiring an additional 17,797 shares in the last quarter. Finally, Proficio Capital Partners LLC bought a new stake in Bunge Global during the 4th quarter valued at approximately $2,253,000. Hedge funds and other institutional investors own 86.23% of the company’s stock.

Bunge Global Stock Performance

The company has a 50-day simple moving average of $79.74 and a two-hundred day simple moving average of $90.16. 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 firm has a market capitalization of $9.66 billion, a P/E ratio of 8.75 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.