Bunge Global (NYSE:BG) Issues FY 2024 Earnings Guidance

Bunge Global (NYSE:BG) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of 9.000-9.000 for the period, compared to the consensus EPS estimate of 9.390. The company issued revenue guidance of -. Bunge Global also updated its FY24 guidance to approx $9.00 EPS.

Analysts Set New Price Targets

Several brokerages have recently issued reports on BG. The Goldman Sachs Group reduced their price objective on Bunge Global from $141.00 to $126.00 and set a buy rating for the company in a research report on Tuesday, February 13th. HSBC upgraded Bunge Global from a hold rating to a buy rating and cut their target price for the stock from $122.00 to $105.00 in a research report on Friday, February 9th. StockNews.com downgraded Bunge Global from a buy rating to a hold rating in a research report on Monday, February 26th. Roth Mkm cut their target price on Bunge Global from $161.00 to $138.00 and set a buy rating for the company in a research report on Monday, February 5th. Finally, Robert W. Baird cut their price objective on Bunge Global from $125.00 to $108.00 and set a neutral rating for the company in a research report on Tuesday, January 23rd. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of Moderate Buy and an average price target of $121.00.

Bunge Global Stock Performance

Shares of BG opened at $104.06 on Friday. 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 firm has a market cap of $14.67 billion, a price-to-earnings ratio of 8.38 and a beta of 0.64. Bunge Global has a 12 month low of $86.10 and a 12 month high of $116.59. The company’s fifty day moving average is $99.28 and its 200-day moving average is $100.01.

Bunge Global (NYSE:BG) last posted its earnings results on Wednesday, April 24th. The basic materials company reported $3.04 EPS for the quarter, topping the consensus estimate of $2.55 by $0.49. The firm had revenue of $13.42 billion for the quarter, compared to the consensus estimate of $13.96 billion. Bunge Global had a net margin of 3.22% and a return on equity of 17.49%. The business’s quarterly revenue was down 12.5% on a year-over-year basis. During the same period in the prior year, the business posted $3.26 earnings per share. Equities analysts expect that Bunge Global will post 9 EPS for the current fiscal year.

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.