Bunge Global (NYSE:BG) Updates 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 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 -.

Bunge Global Trading Down 0.1 %

Shares of BG stock opened at $109.62 on Wednesday. The firm has a 50-day moving average price of $98.69 and a 200 day moving average price of $99.94. Bunge Global has a twelve month low of $86.10 and a twelve month high of $116.59. The company has a market capitalization of $15.45 billion, a price-to-earnings ratio of 7.36 and a beta of 0.64. The company has a current ratio of 2.13, a quick ratio of 1.20 and a debt-to-equity ratio of 0.35.

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, beating the consensus estimate of $2.81 by $0.89. The company had revenue of $14.94 billion during the quarter, compared to analysts’ expectations of $14.96 billion. Bunge Global had a return on equity of 18.30% and a net margin of 3.77%. The firm’s revenue was down 10.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.24 EPS. Research analysts forecast that Bunge Global will post 9.26 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have commented on BG shares. Barclays lowered their price target on Bunge Global from $125.00 to $115.00 and set an overweight rating for the company in a report on Tuesday, January 23rd. Robert W. Baird decreased their target price on Bunge Global from $125.00 to $108.00 and set a neutral rating for the company in a report on Tuesday, January 23rd. The Goldman Sachs Group decreased their target price on Bunge Global from $141.00 to $126.00 and set a buy rating for the company in a report on Tuesday, February 13th. BMO Capital Markets decreased their target price on Bunge Global from $130.00 to $120.00 and set an outperform rating for the company in a report on Thursday, February 8th. Finally, Wolfe Research cut Bunge Global from an outperform rating to a peer perform rating in a report on Wednesday, January 10th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently 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.