Bunge Global (NYSE:BG) Issues FY24 Earnings Guidance

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

Bunge Global Price Performance

Shares of NYSE BG traded down $1.38 on Friday, hitting $102.68. The company’s stock had a trading volume of 724,710 shares, compared to its average volume of 1,756,873. Bunge Global has a 12-month low of $86.10 and a 12-month high of $116.59. The company has a market capitalization of $14.48 billion, a price-to-earnings ratio of 8.38 and a beta of 0.64. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.99 and a quick ratio of 1.20. The stock has a 50 day moving average of $99.28 and a 200-day moving average of $100.01.

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

Wall Street Analysts Forecast Growth

BG has been the topic of several recent analyst reports. Wolfe Research downgraded shares of Bunge Global from an outperform rating to a peer perform rating in a research note on Wednesday, January 10th. Citigroup upped their price target on shares of Bunge Global from $117.00 to $122.00 and gave the stock a buy rating in a research report on Thursday. BMO Capital Markets dropped their price target on shares of Bunge Global from $130.00 to $120.00 and set an outperform rating for the company in a research report on Thursday, February 8th. The Goldman Sachs Group dropped their price target on shares of Bunge Global from $141.00 to $126.00 and set a buy rating for the company in a research report on Tuesday, February 13th. Finally, Roth Mkm dropped their price target on shares of Bunge Global from $161.00 to $138.00 and set a buy rating for the company in a research report on Monday, February 5th. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of Moderate Buy and a consensus target price of $121.00.

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.