We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Bunge (BG) Surges 4.9%: Is This an Indication of Further Gains?
Read MoreHide Full Article
Bunge (BG - Free Report) shares rallied 4.9% in the last trading session to close at $110.08. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 5.7% gain over the past four weeks.
BG’s price appreciation is driven by company’s declaration to convert all issued and outstanding cumulative convertible perpetual preference shares into common shares. This apart, Russia’s Ukraine invasion is also diving share price appreciation as the company has suspended new export business from Russia. It is well poised to boost U.S exports with higher commodity prices.
This agribusiness and food company is expected to post quarterly earnings of $2.75 per share in its upcoming report, which represents a year-over-year change of -12.1%. Revenues are expected to be $15.41 billion, up 18.9% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Bunge, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on BG going forward to see if this recent jump can turn into more strength down the road.
Bunge is a member of the Zacks Agriculture - Products industry. One other stock in the same industry, GrowGeneration (GRWG - Free Report) , finished the last trading session 4.7% lower at $9.14. GRWG has returned 13% over the past month.
GrowGeneration's consensus EPS estimate for the upcoming report has changed -1250% over the past month to -$0.05. Compared to the company's year-ago EPS, this represents a change of -150%. GrowGeneration currently boasts a Zacks Rank of #3 (Hold).
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Bunge (BG) Surges 4.9%: Is This an Indication of Further Gains?
Bunge (BG - Free Report) shares rallied 4.9% in the last trading session to close at $110.08. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 5.7% gain over the past four weeks.
BG’s price appreciation is driven by company’s declaration to convert all issued and outstanding cumulative convertible perpetual preference shares into common shares. This apart, Russia’s Ukraine invasion is also diving share price appreciation as the company has suspended new export business from Russia. It is well poised to boost U.S exports with higher commodity prices.
This agribusiness and food company is expected to post quarterly earnings of $2.75 per share in its upcoming report, which represents a year-over-year change of -12.1%. Revenues are expected to be $15.41 billion, up 18.9% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Bunge, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on BG going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Bunge is a member of the Zacks Agriculture - Products industry. One other stock in the same industry, GrowGeneration (GRWG - Free Report) , finished the last trading session 4.7% lower at $9.14. GRWG has returned 13% over the past month.
GrowGeneration's consensus EPS estimate for the upcoming report has changed -1250% over the past month to -$0.05. Compared to the company's year-ago EPS, this represents a change of -150%. GrowGeneration currently boasts a Zacks Rank of #3 (Hold).