Bunge Global (NYSE:BG) Shares Gap Down Following Weak Earnings

Bunge Global SA (NYSE:BG - Get Free Report)'s share price gapped down before the market opened on Wednesday following a dissappointing earnings announcement. The stock had previously closed at $75.02, but opened at $71.26. Bunge Global shares last traded at $71.64, with a volume of 130,061 shares.

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 return on equity of 11.73% and a net margin of 2.14%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on BG shares. Stephens lowered their price objective on Bunge Global from $110.00 to $105.00 in a research note on Monday, February 3rd. Barclays dropped their target price on shares of Bunge Global from $95.00 to $85.00 and set an "equal weight" rating for the company in a research report on Thursday. Three investment analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $107.00.

Institutional Trading of Bunge Global

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Farther Finance Advisors LLC lifted its holdings in Bunge Global by 40.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 433 shares of the basic materials company's stock worth $42,000 after buying an additional 124 shares in the last quarter. NorthCrest Asset Manangement LLC lifted its stake in shares of Bunge Global by 0.6% during the third quarter. NorthCrest Asset Manangement LLC now owns 23,849 shares of the basic materials company's stock valued at $2,305,000 after acquiring an additional 144 shares during the period. V Square Quantitative Management LLC lifted its stake in shares of Bunge Global by 3.7% during the third quarter. V Square Quantitative Management LLC now owns 4,367 shares of the basic materials company's stock valued at $422,000 after acquiring an additional 156 shares during the period. Caprock Group LLC boosted its holdings in Bunge Global by 2.2% in the third quarter. Caprock Group LLC now owns 7,472 shares of the basic materials company's stock valued at $722,000 after acquiring an additional 164 shares during the last quarter. Finally, Deseret Mutual Benefit Administrators increased its position in Bunge Global by 31.0% in the third quarter. Deseret Mutual Benefit Administrators now owns 702 shares of the basic materials company's stock worth $68,000 after purchasing an additional 166 shares during the period. 86.23% of the stock is currently owned by institutional investors and hedge funds.

Bunge Global Price Performance

The company has a current ratio of 2.15, a quick ratio of 1.10 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $9.72 billion, a P/E ratio of 8.62 and a beta of 0.69. The company has a fifty day simple moving average of $79.34 and a two-hundred day simple moving average of $89.72.

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.