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

Bunge Global (NYSE:BG) announced its earnings results 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. Bunge Global had a return on equity of 18.30% and a net margin of 3.77%. The company had revenue of $13.42 billion during the quarter, compared to analysts’ expectations of $13.96 billion. During the same period last year, the business posted $3.26 EPS. Bunge Global’s revenue for the quarter was down 12.5% on a year-over-year basis. 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 %

Shares of NYSE BG traded down $2.16 during midday trading on Thursday, hitting $103.63. 881,237 shares of the company’s stock were exchanged, compared to its average volume of 1,755,603. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.13 and a quick ratio of 1.20. Bunge Global has a twelve month low of $86.10 and a twelve month high of $116.59. The company has a market cap of $14.61 billion, a PE ratio of 6.95 and a beta of 0.64. The firm’s fifty day simple moving average is $99.02 and its 200-day simple moving average is $99.98.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on BG shares. StockNews.com cut Bunge Global from a “buy” rating to a “hold” rating in a report on Monday, February 26th. Roth Mkm lowered their target price on Bunge Global from $161.00 to $138.00 and set a “buy” rating for the company in a report on Monday, February 5th. Citigroup increased their price target on Bunge Global from $108.00 to $117.00 and gave the company a “buy” rating in a research report on Wednesday, April 3rd. HSBC raised Bunge Global from a “hold” rating to a “buy” rating and reduced their price target for the company from $122.00 to $105.00 in a research report on Friday, February 9th. Finally, BMO Capital Markets reduced their price target on Bunge Global from $130.00 to $120.00 and set an “outperform” rating on the stock in a research report on Thursday, February 8th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, Bunge Global has an average rating of “Moderate Buy” and a consensus target price of $120.44.

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.