Bunge Global (NYSE:BG) Issues FY24 Earnings Guidance

Bunge Global (NYSE:BG) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided EPS guidance of ~$9.25 for the period, compared to the consensus EPS estimate of $9.54. Bunge Global also updated its FY 2024 guidance to 9.250-9.250 EPS.

Bunge Global Price Performance

BG traded down $4.65 during trading on Friday, reaching $98.42. The company’s stock had a trading volume of 1,931,785 shares, compared to its average volume of 1,227,611. The company has a market cap of $13.94 billion, a price-to-earnings ratio of 7.92 and a beta of 0.67. The company has a quick ratio of 1.10, a current ratio of 2.03 and a debt-to-equity ratio of 0.37. The firm has a fifty day simple moving average of $107.76 and a two-hundred day simple moving average of $101.38. Bunge Global has a 1 year low of $86.10 and a 1 year high of $116.59.

Bunge Global (NYSE:BG) last released its quarterly earnings results on Wednesday, July 31st. The basic materials company reported $1.73 EPS for the quarter, missing the consensus estimate of $1.79 by ($0.06). The firm had revenue of $13.24 billion for the quarter, compared to analysts’ expectations of $14.30 billion. Bunge Global had a net margin of 2.33% and a return on equity of 14.84%. The firm’s quarterly revenue was down 12.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.72 EPS. As a group, analysts anticipate that Bunge Global will post 9.4 EPS for the current year.

Bunge Global Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th will be given a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a dividend yield of 2.76%. The ex-dividend date is Tuesday, February 18th. Bunge Global’s payout ratio is presently 21.90%.

Analyst Ratings Changes

Separately, Citigroup lowered shares of Bunge Global from a buy rating to a neutral rating and reduced their price target for the company from $125.00 to $114.00 in a research report on Thursday. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, Bunge Global presently has an average rating of Moderate Buy and an average target price of $120.11.

Insider Buying and Selling at Bunge Global

In other Bunge Global news, insider Christos Dimopoulos sold 20,000 shares of the business’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $103.26, for a total value of $2,065,200.00. Following the completion of the transaction, the insider now owns 87,999 shares in the company, valued at $9,086,776.74. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.60% of the stock is owned by corporate insiders.

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.