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

Bunge Global (NYSE:BG) announced its earnings results on Wednesday. The basic materials company reported $3.04 earnings per share for the quarter, beating the consensus estimate 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 quarter in the prior year, the firm posted $3.26 earnings per share. The business’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

NYSE BG traded down $1.33 on Friday, hitting $102.73. The company had a trading volume of 1,395,863 shares, compared to its average volume of 1,765,922. Bunge Global has a 12-month low of $86.10 and a 12-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 company’s fifty day moving average price is $99.28 and its 200-day moving average price is $100.01. The company has a market capitalization of $14.48 billion, a PE ratio of 8.38 and a beta of 0.64.

Analyst Ratings Changes

Several research firms recently commented on BG. StockNews.com downgraded shares of Bunge Global from a “buy” rating to a “hold” rating in a research note on Monday, February 26th. HSBC raised shares of Bunge Global from a “hold” rating to a “buy” rating and cut their target price for the company from $122.00 to $105.00 in a research report on Friday, February 9th. The Goldman Sachs Group cut their target price on shares of Bunge Global from $141.00 to $126.00 and set a “buy” rating on the stock in a research report on Tuesday, February 13th. Citigroup raised their target price on shares of Bunge Global from $117.00 to $122.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Wolfe Research downgraded shares of Bunge Global from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, January 10th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price 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.