Bunge Global (NYSE:BG) Announces Earnings Results

Bunge Global (NYSE:BG) issued its earnings results on Wednesday. The basic materials company reported $3.04 earnings per share for the quarter, topping analysts’ consensus estimates of $2.55 by $0.49, Briefing.com reports. Bunge Global had a net margin of 3.22% and a return on equity of 17.49%. The business had revenue of $13.42 billion for the quarter, compared to the consensus estimate of $13.96 billion. During the same period in the previous year, the company earned $3.26 earnings per share. The firm’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 Price Performance

BG stock traded down $1.70 during mid-day trading on Friday, hitting $102.36. 532,352 shares of the stock were exchanged, compared to its average volume of 1,754,687. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.99 and a quick ratio of 1.20. The stock has a market capitalization of $14.43 billion, a price-to-earnings ratio of 8.38 and a beta of 0.64. The business has a fifty day moving average price of $99.28 and a 200 day moving average price of $100.01. Bunge Global has a 12 month low of $86.10 and a 12 month high of $116.59.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on BG shares. HSBC upgraded 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 note on Friday, February 9th. StockNews.com cut Bunge Global from a “buy” rating to a “hold” rating in a research note on Monday, February 26th. BMO Capital Markets reduced their price target on shares of Bunge Global from $130.00 to $120.00 and set an “outperform” rating on the stock in a research note on Thursday, February 8th. Wolfe Research lowered Bunge Global from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, January 10th. Finally, Roth Mkm decreased 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 report on Monday, February 5th. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $121.00.

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.