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

Bunge Global (NYSE:BG) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 9.000-9.000 for the period, compared to the consensus earnings per share estimate of 9.390. The company issued revenue guidance of -.

Analysts Set New Price Targets

A number of research analysts have recently commented on BG shares. StockNews.com lowered Bunge Global from a buy rating to a hold rating in a report on Monday, February 26th. Barclays lowered their price objective on Bunge Global from $125.00 to $115.00 and set an overweight rating on the stock in a report on Tuesday, January 23rd. Roth Mkm lowered their price objective on Bunge Global from $161.00 to $138.00 and set a buy rating on the stock in a report on Monday, February 5th. Robert W. Baird lowered their price objective on Bunge Global from $125.00 to $108.00 and set a neutral rating on the stock in a report on Tuesday, January 23rd. Finally, BMO Capital Markets lowered their price objective on Bunge Global from $130.00 to $120.00 and set an outperform rating on the stock in a report on Thursday, February 8th. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average target price of $120.44.

Bunge Global Stock Performance

BG opened at $109.62 on Wednesday. The firm has a market capitalization of $15.45 billion, a P/E ratio of 7.36 and a beta of 0.64. The stock’s 50 day moving average price is $98.69 and its two-hundred day moving average price is $99.94. 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 12-month low of $86.10 and a 12-month high of $116.59.

Bunge Global (NYSE:BG) last released its earnings results on Wednesday, February 7th. The basic materials company reported $3.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.81 by $0.89. The firm had revenue of $14.94 billion for the quarter, compared to analyst estimates of $14.96 billion. Bunge Global had a return on equity of 18.30% and a net margin of 3.77%. The company’s revenue was down 10.3% on a year-over-year basis. During the same quarter last year, the firm posted $3.24 EPS. On average, equities analysts forecast that Bunge Global will post 9.26 earnings per share for the current 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.