() updated its FY2023 earnings guidance Wednesday. The company gave a guidance of earnings per share of $11.00-, which is lower than the consensus estimate of $12.81. The company provided revenue guidance of $. Bunge updated its FY23 guidance as well to include at least $11.00 in EPS.
Analysts set new price targets
In a report published on Thursday, the 13th of April, Bunge shares were downgraded from a Buy rating to a Hold rating. Morgan Stanley reduced their price target on Bunge shares from $120.00 down to $105.00, and assigned an equal weight rating in a report published on Thursday, 14th April. Robert W. Baird lowered shares of Bunge's rating from outperform to neutral and reduced their price target for the company in a Thursday, February 9th report. BMO Capital Markets started covering shares of Bunge on Thursday, April 13, in a report. The stock was given an outperform and a price target of $120.00. Three analysts gave the stock a hold and seven others a buy rating. During Friday's trading, the stock rose $1.20 to $90.55. Stock of the company traded at 984,286 compared to 1,680,338 shares on average. The company's moving average 50-day price is $94.84; its moving average 200-day price is $96.94. The company has a $13.58 billion market cap, an PE ratio of 8,61 and a Beta of 0.65. Bunge's 52-week low is $80.41, and its 52-week high is $118.99. The company's quick ratio is 0.87, its current ratio is 1.83, and it has a debt to equity ratio of 0.40.
The last time ) released its quarterly earnings was on May 3rd. The basic materials company posted $3.26 in earnings per share, falling short of the consensus estimate for $3.39. Bunge's return on equity was 20.13 percent and its net margin was 2.33%. The company had a revenue of $15.33billion for the quarter compared to a consensus estimate of $15.18billion. In the same quarter last year, the firm earned $4.26 in EPS. Revenue for the company was down by 3.5% from the same period last year. Analysts predict that Bunge's earnings per share will be 11 for the current fiscal year.
Bunge Dividend Announcement
Recently, the company announced a quarterly distribution that will be paid out on Friday, 2nd June. Investors who held shares on Friday, May 19, will receive a $0.625 dividend per share. Thursday, May 18, is the ex-dividend day. This is a $2.50 dividend with a yield of 2.76 percent. Bunge has a dividend payout ratio of 23.76%.
Inflows of Institutional Capital and Outflows
Recent institutional investors have bought and sold shares in the company. Vanguard Group Inc. has increased its holdings in Bunge shares by 5.2% during the first quarter. Vanguard Group Inc. owns 14,105.841 shares in the basic materials company valued at $1.563,069,000, after purchasing an additional 696.806 shares. State Street Corp increased their stake in Bunge shares by 6.4% during the first quarter. State Street Corp owns 4,182,611 of the basic materials firm's stock, valued at $463.059,000, after purchasing an additional 258,13 shares. Norges Bank purchased a new position of shares in Bunge during the fourth quarter, valued at about $186.143,000. Amundi increased their stake in Bunge shares by 10.9% during the fourth quarter. Amundi owns 1,405,486 of the basic materials firm's stock, valued at $139.061,000, after purchasing an additional 138.563 shares. Goldman Sachs Group Inc. grew its holdings in Bunge shares by 96.4% during the first quarter. Goldman Sachs Group Inc. owns 1,091,927 of the basic materials firm's stock, valued at $120.996,000, after purchasing an additional 536 078 shares during the period. Institutional investors and hedge fund owners own 82.62% the company's shares.
Bunge Ltd. is a holding firm. Bunge Ltd. is involved in the transportation and supply of agricultural products. The company operates in four segments: Agribusiness; Refined and Specialty Oils; Milling; and Sugar and Bioenergy. The Agribusiness division is responsible for the storage, transport, processing and sale of agricultural products and commodities.
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