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

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

Bunge Global Price Performance

BG traded down $1.38 on Friday, hitting $102.68. 724,710 shares of the stock were exchanged, compared to its average volume of 1,756,873. Bunge Global has a 12 month low of $86.10 and a 12 month high of $116.59. The business has a 50-day moving average of $99.28 and a two-hundred day moving average of $100.01. 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 firm has a market capitalization of $14.48 billion, a price-to-earnings ratio of 8.38 and a beta of 0.64.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Barclays cut their price target on shares of Bunge Global from $125.00 to $115.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 23rd. Roth Mkm lowered their target price on shares of Bunge Global from $161.00 to $138.00 and set a “buy” rating on the stock in a report on Monday, February 5th. Wolfe Research downgraded shares of Bunge Global from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 10th. HSBC upgraded shares of Bunge Global from a “hold” rating to a “buy” rating and decreased their price objective for the company from $122.00 to $105.00 in a report on Friday, February 9th. Finally, BMO Capital Markets decreased their price objective 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. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Bunge Global presently has a consensus rating of “Moderate Buy” and an average price target of $121.00.

About Bunge Global

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.