Bunge Global (NYSE:BG) Releases FY24 Earnings Guidance

Bunge Global (NYSE:BG) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of approx $9.00 for the period, compared to the consensus estimate of $9.33. Bunge Global also updated its FY 2024 guidance to 9.000-9.000 EPS.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Robert W. Baird dropped 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. Wolfe Research cut shares of Bunge Global from an outperform rating to a peer perform rating in a research note on Wednesday, January 10th. Citigroup lifted their price target on shares of Bunge Global from $108.00 to $117.00 and gave the company a buy rating in a research note on Wednesday, April 3rd. HSBC raised shares of Bunge Global from a hold rating to a buy rating and dropped their price target for the company from $122.00 to $105.00 in a research note on Friday, February 9th. Finally, Roth Mkm dropped their price target on shares of Bunge Global from $161.00 to $138.00 and set a buy rating on the stock in a research note on Monday, February 5th. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, Bunge Global currently has a consensus rating of Moderate Buy and a consensus price target of $120.44.

Bunge Global Stock Performance

Shares of BG opened at $109.62 on Wednesday. The stock has a 50 day moving average price of $98.69 and a 200 day moving average price of $99.94. The company has a market capitalization of $15.46 billion, a price-to-earnings ratio of 7.36 and a beta of 0.64. The company has a quick ratio of 1.20, a current ratio of 2.13 and a debt-to-equity ratio of 0.35. Bunge Global has a 52-week low of $86.10 and a 52-week high of $116.59.

Bunge Global (NYSE:BG) last released its quarterly earnings data on Wednesday, February 7th. The basic materials company reported $3.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.81 by $0.89. The firm had revenue of $14.94 billion during the quarter, compared to analysts’ expectations of $14.96 billion. Bunge Global had a return on equity of 18.30% and a net margin of 3.77%. Bunge Global’s revenue was down 10.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.24 earnings per share. Research analysts predict that Bunge Global will post 9.26 EPS for the current fiscal year.

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.