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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 $96.88, marking a +0.32% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.02%. Elsewhere, the Dow gained 0.03%, while the tech-heavy Nasdaq added 5.44%.
Coming into today, shares of the agribusiness and food company had lost 3.99% in the past month. In that same time, the Basic Materials sector gained 8.62%, while the S&P 500 gained 4.57%.
Investors will be hoping for strength from Bunge as it approaches its next earnings release, which is expected to be February 8, 2023. On that day, Bunge is projected to report earnings of $3.19 per share, which would represent a year-over-year decline of 8.6%. Our most recent consensus estimate is calling for quarterly revenue of $18.23 billion, up 9.25% from the year-ago period.
It is also important to note the recent changes to analyst estimates for Bunge. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Within the past 30 days, our consensus EPS projection has moved 0.38% higher. Bunge is currently a Zacks Rank #2 (Buy).
Digging into valuation, Bunge currently has a Forward P/E ratio of 8.19. This represents a premium compared to its industry's average Forward P/E of 8.14.
The Agriculture - Products industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 70, putting it in the top 28% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow BG in the coming trading sessions, be sure to utilize 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 $96.88, marking a +0.32% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.02%. Elsewhere, the Dow gained 0.03%, while the tech-heavy Nasdaq added 5.44%.
Coming into today, shares of the agribusiness and food company had lost 3.99% in the past month. In that same time, the Basic Materials sector gained 8.62%, while the S&P 500 gained 4.57%.
Investors will be hoping for strength from Bunge as it approaches its next earnings release, which is expected to be February 8, 2023. On that day, Bunge is projected to report earnings of $3.19 per share, which would represent a year-over-year decline of 8.6%. Our most recent consensus estimate is calling for quarterly revenue of $18.23 billion, up 9.25% from the year-ago period.
It is also important to note the recent changes to analyst estimates for Bunge. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Within the past 30 days, our consensus EPS projection has moved 0.38% higher. Bunge is currently a Zacks Rank #2 (Buy).
Digging into valuation, Bunge currently has a Forward P/E ratio of 8.19. This represents a premium compared to its industry's average Forward P/E of 8.14.
The Agriculture - Products industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 70, putting it in the top 28% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow BG in the coming trading sessions, be sure to utilize Zacks.com.