Bunge Global (NYSE:BG) Updates FY24 Earnings Guidance

Bunge Global (NYSE:BG) issued an update on its FY24 earnings guidance on Wednesday morning. 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.

Bunge Global Trading Down 2.1 %

Shares of Bunge Global stock traded down $2.26 during trading on Thursday, reaching $103.53. 726,316 shares of the company were exchanged, compared to its average volume of 1,753,862. Bunge Global has a twelve month low of $86.10 and a twelve month high of $116.59. The company has a quick ratio of 1.20, a current ratio of 2.13 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $14.60 billion, a price-to-earnings ratio of 6.95 and a beta of 0.64. The business has a 50-day moving average price of $99.02 and a 200-day moving average price of $99.98.

Bunge Global (NYSE:BG) last issued its quarterly earnings results on Wednesday, April 24th. The basic materials company reported $3.04 EPS for the quarter, beating analysts’ consensus estimates of $2.55 by $0.49. The company had revenue of $13.42 billion for the quarter, compared to analyst estimates of $13.96 billion. Bunge Global had a return on equity of 18.30% and a net margin of 3.77%. The company’s quarterly revenue was down 12.5% compared to the same quarter last year. During the same period in the previous year, the company posted $3.26 earnings per share. Sell-side analysts anticipate that Bunge Global will post 9.26 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. StockNews.com downgraded Bunge Global from a buy rating to a hold rating in a research report on Monday, February 26th. Barclays cut their target price on Bunge Global from $125.00 to $115.00 and set an overweight rating for the company in a research note on Tuesday, January 23rd. Citigroup upped their target price on Bunge Global from $108.00 to $117.00 and gave the stock a buy rating in a research note on Wednesday, April 3rd. HSBC upgraded Bunge Global from a hold rating to a buy rating and cut their target price for the stock from $122.00 to $105.00 in a research note on Friday, February 9th. Finally, Roth Mkm cut their target price on Bunge Global from $161.00 to $138.00 and set a buy rating for the company in a research note on Monday, February 5th. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average target price of $120.44.

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.