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

Bunge Global (NYSE:BG) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 9.000-9.000 for the period, compared to the consensus estimate of 9.390. The company issued revenue guidance of -. Bunge Global also updated its FY24 guidance to approx $9.00 EPS.

Bunge Global Stock Performance

NYSE:BG traded down $3.97 during trading hours on Wednesday, reaching $105.65. The stock had a trading volume of 2,318,553 shares, compared to its average volume of 1,749,232. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.20 and a current ratio of 2.13. The stock has a 50 day simple moving average of $98.69 and a 200 day simple moving average of $99.94. Bunge Global has a 12-month low of $86.10 and a 12-month high of $116.59. The stock has a market cap of $14.90 billion, a P/E ratio of 7.36 and a beta of 0.64.

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

Analyst Ratings Changes

A number of research firms have recently commented on BG. The Goldman Sachs Group cut their price target on Bunge Global from $141.00 to $126.00 and set a buy rating for the company in a report on Tuesday, February 13th. StockNews.com lowered Bunge Global from a buy rating to a hold rating in a report on Monday, February 26th. Roth Mkm cut their price target on Bunge Global from $161.00 to $138.00 and set a buy rating for the company in a report on Monday, February 5th. Wolfe Research lowered Bunge Global from an outperform rating to a peer perform rating in a research note on Wednesday, January 10th. Finally, Citigroup lifted their price objective on Bunge Global from $108.00 to $117.00 and gave the company a buy rating in a research note on Wednesday, April 3rd. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus target price 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.