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

Bunge Global (NYSE:BG) issued its quarterly earnings data on Wednesday. The basic materials company reported $3.04 EPS for the quarter, beating the consensus estimate of $2.55 by $0.49, Briefing.com reports. Bunge Global had a net margin of 3.77% and a return on equity of 18.30%. 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 posted $3.26 earnings per share. The company’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 Stock Performance

Shares of Bunge Global stock traded down $2.26 on Thursday, hitting $103.53. 726,316 shares of the company’s stock were exchanged, compared to its average volume of 1,753,862. The company has a 50-day simple moving average of $99.02 and a 200-day simple moving average of $99.98. The stock has a market capitalization of $14.60 billion, a PE ratio of 6.95 and a beta of 0.64. Bunge Global has a 1 year low of $86.10 and a 1 year high of $116.59. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.20 and a current ratio of 2.13.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Citigroup increased their price target on shares of Bunge Global from $108.00 to $117.00 and gave the stock a “buy” rating in a research note on Wednesday, April 3rd. Wolfe Research downgraded shares of Bunge Global from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 10th. BMO Capital Markets decreased their target price on shares of Bunge Global from $130.00 to $120.00 and set an “outperform” rating for the company in a research note on Thursday, February 8th. HSBC raised shares of Bunge Global from a “hold” rating to a “buy” rating and decreased their target price for the company from $122.00 to $105.00 in a research note on Friday, February 9th. Finally, Barclays decreased their target price on shares of Bunge Global from $125.00 to $115.00 and set an “overweight” rating for the company in a research note on Tuesday, January 23rd. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $120.44.

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.