Bunge Global (NYSE:BG) Issues Quarterly Earnings Results, Beats Expectations By $0.49 EPS

Bunge Global (NYSE:BG) announced its quarterly earnings results on Wednesday. The basic materials company reported $3.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.55 by $0.49, Briefing.com reports. Bunge Global had a return on equity of 17.49% and a net margin of 3.22%. The firm had revenue of $13.42 billion during the quarter, compared to the consensus estimate of $13.96 billion. During the same period in the prior year, the firm earned $3.26 EPS. The firm’s quarterly revenue was down 12.5% compared to the same quarter last year. 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 2.0 %

Bunge Global stock traded down $2.10 during midday trading on Friday, reaching $101.96. The stock had a trading volume of 488,961 shares, compared to its average volume of 1,754,179. The firm’s fifty day simple moving average is $99.28 and its two-hundred day simple moving average is $100.01. Bunge Global has a twelve month low of $86.10 and a twelve month high of $116.59. 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 firm has a market cap of $14.38 billion, a price-to-earnings ratio of 8.38 and a beta of 0.64.

Analysts Set New Price Targets

Several brokerages have recently weighed in on BG. StockNews.com downgraded Bunge Global from a “buy” rating to a “hold” rating in a research note on Monday, February 26th. Barclays cut their target price on shares of Bunge Global from $125.00 to $115.00 and set an “overweight” rating on the stock in a report on Tuesday, January 23rd. The Goldman Sachs Group lowered their price objective on shares of Bunge Global from $141.00 to $126.00 and set a “buy” rating on the stock in a research note on Tuesday, February 13th. Robert W. Baird lowered their price objective on shares of Bunge Global from $125.00 to $108.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 23rd. Finally, Citigroup raised their price objective on shares of Bunge Global from $117.00 to $122.00 and gave the company a “buy” rating in a research note on Thursday. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock 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.