Bunge Global (NYSE:BG) Updates FY24 Earnings Guidance

Bunge Global (NYSE:BG) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share guidance of approx $9.00 for the period, compared to the consensus earnings per share estimate of $9.33. Bunge Global also updated its FY 2024 guidance to 9.000-9.000 EPS.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. HSBC raised shares of Bunge Global from a hold rating to a buy rating and decreased their target price for the stock from $122.00 to $105.00 in a research report on Friday, February 9th. The Goldman Sachs Group decreased 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. BMO Capital Markets reduced their price target 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. Citigroup lifted their price target on shares of Bunge Global from $117.00 to $122.00 and gave the company a buy rating in a research report on Thursday. Finally, Roth Mkm reduced their price target on shares of Bunge Global from $161.00 to $138.00 and set a buy rating on the stock in a research report on Monday, February 5th. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average price target of $121.00.

Bunge Global Stock Down 1.3 %

Shares of BG traded down $1.38 during trading hours on Friday, reaching $102.68. The company’s stock had a trading volume of 724,710 shares, compared to its average volume of 1,756,873. The firm has a market cap of $14.48 billion, a price-to-earnings ratio of 8.38 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 quick ratio of 1.20, a current ratio of 1.99 and a debt-to-equity ratio of 0.35. The company has a 50 day moving average of $99.28 and a two-hundred day moving average of $100.01.

Bunge Global (NYSE:BG) last announced its earnings results on Wednesday, April 24th. The basic materials company reported $3.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.55 by $0.49. Bunge Global had a return on equity of 17.49% and a net margin of 3.22%. The firm had revenue of $13.42 billion during the quarter, compared to analysts’ expectations of $13.96 billion. During the same quarter in the prior year, the business earned $3.26 earnings per share. The company’s revenue was down 12.5% on a year-over-year basis. As a group, research analysts predict that Bunge Global will post 9 EPS for the current fiscal year.

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.