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

Bunge Global SA (NYSE:BG - Get Free Report)'s share 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 changing 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 2.14% and a return on equity of 11.73%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on BG. 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 report on Thursday. Stephens decreased their price objective on Bunge Global from $110.00 to $105.00 in a report on Monday, February 3rd. Three equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Bunge Global has an average rating of "Moderate Buy" and an average target price of $107.00.

Hedge Funds Weigh In On Bunge Global

A number of large investors have recently made changes to their positions in the stock. Moors & Cabot Inc. boosted its position in shares of Bunge Global by 15.3% in the fourth quarter. Moors & Cabot Inc. now owns 7,532 shares of the basic materials company's stock valued at $586,000 after acquiring an additional 1,000 shares during the period. Daiwa Securities Group Inc. boosted its holdings in Bunge Global by 9.5% in the 4th quarter. Daiwa Securities Group Inc. now owns 33,384 shares of the basic materials company's stock valued at $2,596,000 after purchasing an additional 2,895 shares during the period. Moran Wealth Management LLC boosted its holdings in Bunge Global by 571.5% in the 4th quarter. Moran Wealth Management LLC now owns 47,730 shares of the basic materials company's stock valued at $3,711,000 after purchasing an additional 40,622 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Bunge Global by 3.0% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 47,702 shares of the basic materials company's stock worth $3,709,000 after purchasing an additional 1,406 shares during the period. Finally, Ruffer LLP purchased a new stake in shares of Bunge Global in the fourth quarter worth $8,414,000. 86.23% of the stock is owned by institutional investors.

Bunge Global Stock Up 0.5 %

The stock has a 50-day moving average of $79.34 and a 200-day moving average of $89.56. The company has a quick ratio of 1.10, a current ratio of 2.15 and a debt-to-equity ratio of 0.43. The company has a market cap of $9.72 billion, a PE ratio of 8.62 and a beta of 0.69.

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.