Bunge Global (NYSE:BG) Announces Earnings Results, Beats Expectations By $0.49 EPS

Bunge Global (NYSE:BG) posted its quarterly earnings results on Wednesday. The basic materials company reported $3.04 EPS for the quarter, topping the consensus estimate of $2.55 by $0.49, Briefing.com reports. The firm had revenue of $13.42 billion for the quarter, compared to the consensus estimate of $13.96 billion. Bunge Global had a net margin of 3.22% and a return on equity of 17.49%. The business’s revenue was down 12.5% compared to the same quarter last year. During the same period last year, the firm posted $3.26 earnings per share. Bunge Global updated its FY 2024 guidance to 9.000-9.000 EPS and its FY24 guidance to approx $9.00 EPS.

Bunge Global Stock Down 2.0 %

NYSE BG traded down $2.10 during trading on Friday, hitting $101.96. The company’s stock had a trading volume of 488,961 shares, compared to its average volume of 1,754,179. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.99 and a quick ratio of 1.20. The company has a market cap of $14.38 billion, a PE ratio of 8.38 and a beta of 0.64. The business’s 50 day simple moving average is $99.28 and its 200-day simple moving average is $100.01. Bunge Global has a fifty-two week low of $86.10 and a fifty-two week high of $116.59.

Wall Street Analysts Forecast Growth

BG has been the topic of several research reports. Robert W. Baird decreased their price target on shares of Bunge Global from $125.00 to $108.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 23rd. BMO Capital Markets cut their target price on shares of Bunge Global from $130.00 to $120.00 and set an “outperform” rating on the stock in a report on Thursday, February 8th. StockNews.com cut shares of Bunge Global from a “buy” rating to a “hold” rating in a report on Monday, February 26th. Citigroup boosted their price objective on Bunge Global from $117.00 to $122.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Wolfe Research downgraded Bunge Global from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 10th. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $121.00.

Bunge Global Company Profile

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.