Bunge Global (NYSE:BG) Updates FY24 Earnings Guidance

Bunge Global (NYSE:BG) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided earnings per share guidance of approx $9.00 for the period, compared to the consensus earnings per share estimate of $9.33. Bunge Global also updated its FY 2024 guidance to 9.000-9.000 EPS.

Bunge Global Trading Down 1.3 %

BG opened at $102.69 on Friday. Bunge Global has a 52 week low of $86.10 and a 52 week high of $116.59. The company has a quick ratio of 1.20, a current ratio of 1.99 and a debt-to-equity ratio of 0.35. The stock has a market cap of $14.54 billion, a PE ratio of 8.27 and a beta of 0.64. The business has a 50 day moving average of $99.50 and a 200-day moving average of $99.99.

Bunge Global (NYSE:BG) last posted its quarterly earnings data on Wednesday, April 24th. The basic materials company reported $3.04 earnings per share for the quarter, beating analysts’ consensus estimates of $2.55 by $0.49. Bunge Global had a return on equity of 17.49% and a net margin of 3.22%. The company had revenue of $13.42 billion during the quarter, compared to analyst estimates of $13.96 billion. During the same quarter last year, the company earned $3.26 EPS. The firm’s revenue for the quarter was down 12.5% on a year-over-year basis. Equities research analysts predict that Bunge Global will post 9.03 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. 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. Wolfe Research cut shares of Bunge Global from an outperform rating to a peer perform rating in a research note on Wednesday, January 10th. Roth Mkm reduced their price target on shares of Bunge Global from $161.00 to $138.00 and set a buy rating for the company in a research note on Monday, February 5th. StockNews.com downgraded shares of Bunge Global from a buy rating to a hold rating in a research report on Monday, February 26th. Finally, BMO Capital Markets decreased their target price on shares of Bunge Global from $130.00 to $120.00 and set an outperform rating for the company in a research note on Thursday, February 8th. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average target price 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.