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

Bunge Global (NYSE:BG) issued its quarterly earnings data on Wednesday. The basic materials company reported $3.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.55 by $0.49, Briefing.com reports. The firm had revenue of $13.42 billion during the quarter, compared to the consensus estimate of $13.96 billion. Bunge Global had a return on equity of 18.30% and a net margin of 3.77%. The company’s quarterly revenue was down 12.5% on a year-over-year basis. During the same period last year, the company earned $3.26 EPS. 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 Down 2.0 %

Shares of Bunge Global stock traded down $2.12 on Thursday, reaching $103.67. 813,661 shares of the company were exchanged, compared to its average volume of 1,755,008. Bunge Global has a 1-year low of $86.10 and a 1-year high of $116.59. The company has a market cap of $14.62 billion, a P/E ratio of 6.95 and a beta of 0.64. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.13 and a quick ratio of 1.20. The stock’s 50 day moving average price is $99.02 and its 200-day moving average price is $99.98.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on BG. 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 price objective 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. Barclays cut their price objective on Bunge Global from $125.00 to $115.00 and set an “overweight” rating for the company in a research report on Tuesday, January 23rd. 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. Finally, Citigroup lifted their target price on Bunge Global from $108.00 to $117.00 and gave the company a “buy” rating in a research report on Wednesday, April 3rd. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $120.44.

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.