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

Bunge Global (NYSE:BG) posted its quarterly earnings data on Wednesday. The basic materials company reported $3.04 EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $13.42 billion for the quarter, compared to analyst estimates of $13.96 billion. During the same period in the prior year, the firm posted $3.26 EPS. The company’s quarterly revenue was down 12.5% on a year-over-year basis. 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

BG traded down $2.16 during trading on Thursday, hitting $103.63. 881,237 shares of the company traded hands, compared to its average volume of 1,755,603. The firm has a market cap of $14.61 billion, a P/E ratio of 6.95 and a beta of 0.64. The stock’s fifty day moving average is $99.02 and its 200 day moving average is $99.98. 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 one year low of $86.10 and a one year high of $116.59.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on BG. BMO Capital Markets dropped their target price on shares of Bunge Global from $130.00 to $120.00 and set an “outperform” rating on the stock in a research report on Thursday, February 8th. HSBC upgraded shares of Bunge Global from a “hold” rating to a “buy” rating and dropped their target price for the company from $122.00 to $105.00 in a research report on Friday, February 9th. Robert W. Baird dropped their target price on shares of Bunge Global from $125.00 to $108.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 23rd. The Goldman Sachs Group dropped their target price on shares of Bunge Global from $141.00 to $126.00 and set a “buy” rating on the stock in a research report on Tuesday, February 13th. Finally, Roth Mkm lowered their price objective on shares of Bunge Global from $161.00 to $138.00 and set a “buy” rating on the stock in a report on Monday, February 5th. 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 company currently has an average 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.