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Bunge (BG) Gains As Market Dips: What You Should Know
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In the latest trading session, Bunge (BG - Free Report) closed at $98.39, marking a +0.51% move from the previous day. This change outpaced the S&P 500's 0.76% loss on the day. Elsewhere, the Dow lost 0.76%, while the tech-heavy Nasdaq lost 10.92%.
Coming into today, shares of the agribusiness and food company had gained 0.1% in the past month. In that same time, the Basic Materials sector gained 7.22%, while the S&P 500 gained 2.18%.
Bunge will be looking to display strength as it nears its next earnings release, which is expected to be February 8, 2023. On that day, Bunge is projected to report earnings of $3.17 per share, which would represent a year-over-year decline of 9.17%. Meanwhile, our latest consensus estimate is calling for revenue of $18.71 billion, up 12.13% from the prior-year quarter.
It is also important to note the recent changes to analyst estimates for Bunge. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.32% higher. Bunge is currently a Zacks Rank #3 (Hold).
Digging into valuation, Bunge currently has a Forward P/E ratio of 8.3. This valuation marks a premium compared to its industry's average Forward P/E of 7.92.
The Agriculture - Products industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 90, putting it in the top 36% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Bunge (BG) Gains As Market Dips: What You Should Know
In the latest trading session, Bunge (BG - Free Report) closed at $98.39, marking a +0.51% move from the previous day. This change outpaced the S&P 500's 0.76% loss on the day. Elsewhere, the Dow lost 0.76%, while the tech-heavy Nasdaq lost 10.92%.
Coming into today, shares of the agribusiness and food company had gained 0.1% in the past month. In that same time, the Basic Materials sector gained 7.22%, while the S&P 500 gained 2.18%.
Bunge will be looking to display strength as it nears its next earnings release, which is expected to be February 8, 2023. On that day, Bunge is projected to report earnings of $3.17 per share, which would represent a year-over-year decline of 9.17%. Meanwhile, our latest consensus estimate is calling for revenue of $18.71 billion, up 12.13% from the prior-year quarter.
It is also important to note the recent changes to analyst estimates for Bunge. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.32% higher. Bunge is currently a Zacks Rank #3 (Hold).
Digging into valuation, Bunge currently has a Forward P/E ratio of 8.3. This valuation marks a premium compared to its industry's average Forward P/E of 7.92.
The Agriculture - Products industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 90, putting it in the top 36% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.