Bunge Global (NYSE:BG) Announces 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 (EPS) for the quarter, topping the consensus estimate of $2.55 by $0.49, Briefing.com reports. The firm had revenue of $13.42 billion during the quarter, compared to analysts’ expectations of $13.96 billion. Bunge Global had a return on equity of 17.49% and a net margin of 3.22%. Bunge Global’s revenue was down 12.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.26 earnings per share. Bunge Global updated its FY 2024 guidance to 9.000-9.000 EPS and its FY24 guidance to approx $9.00 EPS.

Bunge Global Trading Down 1.6 %

Shares of BG stock traded down $1.70 during trading hours on Friday, hitting $102.36. 532,352 shares of the company were exchanged, compared to its average volume of 1,754,687. The firm has a fifty day moving average of $99.28 and a 200 day moving average of $100.01. The company has a quick ratio of 1.20, a current ratio of 1.99 and a debt-to-equity ratio of 0.35. Bunge Global has a 1 year low of $86.10 and a 1 year high of $116.59. The firm has a market cap of $14.43 billion, a PE ratio of 8.38 and a beta of 0.64.

Analysts Set New Price Targets

A number of equities analysts have issued reports on BG shares. Robert W. Baird cut their target price on shares of Bunge Global from $125.00 to $108.00 and set a “neutral” rating for the company in a research report on Tuesday, January 23rd. StockNews.com downgraded Bunge Global from a “buy” rating to a “hold” rating in a research 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 on the stock in a report on Monday, February 5th. The Goldman Sachs Group cut their price target on Bunge Global from $141.00 to $126.00 and set a “buy” rating for the company in a report on Tuesday, February 13th. Finally, Barclays decreased their price objective on Bunge Global from $125.00 to $115.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 23rd. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock 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.