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

Bunge Global (NYSE:BG) issued its quarterly earnings data on Wednesday. The basic materials company reported $3.04 EPS for the quarter, beating analysts’ consensus estimates of $2.55 by $0.49, Briefing.com reports. The business had revenue of $13.42 billion for the quarter, compared to analyst estimates of $13.96 billion. Bunge Global had a return on equity of 18.30% and a net margin of 3.77%. The firm’s revenue for the quarter was down 12.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.26 EPS. 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

Shares of Bunge Global stock traded down $2.26 during midday trading on Thursday, hitting $103.53. 726,316 shares of the company were exchanged, compared to its average volume of 1,753,862. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.13 and a quick ratio of 1.20. The firm has a market cap of $14.60 billion, a P/E ratio of 6.95 and a beta of 0.64. Bunge Global has a 52 week low of $86.10 and a 52 week high of $116.59. The firm has a 50 day simple moving average of $99.02 and a 200-day simple moving average of $99.98.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on BG shares. The Goldman Sachs Group lowered their target price on Bunge Global from $141.00 to $126.00 and set a “buy” rating on the stock in a report on Tuesday, February 13th. Roth Mkm lowered their target price on Bunge Global from $161.00 to $138.00 and set a “buy” rating on the stock in a report on Monday, February 5th. StockNews.com lowered Bunge Global from a “buy” rating to a “hold” rating in a report on Monday, February 26th. Barclays reduced their price objective on Bunge Global from $125.00 to $115.00 and set an “overweight” rating for the company in a research report on Tuesday, January 23rd. Finally, HSBC upgraded Bunge Global from a “hold” rating to a “buy” rating and reduced their price objective for the stock from $122.00 to $105.00 in a research report on Friday, February 9th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $120.44.

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.