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

Bunge Global (NYSE:BG) announced its quarterly earnings data on Wednesday. The basic materials company reported $3.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.55 by $0.49, Briefing.com reports. The company had revenue of $13.42 billion during the quarter, compared to analysts’ expectations of $13.96 billion. Bunge Global had a net margin of 3.22% and a return on equity of 17.49%. The firm’s revenue was down 12.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.26 EPS. Bunge Global updated its FY 2024 guidance to 9.000-9.000 EPS and its FY24 guidance to approx $9.00 EPS.

Bunge Global Price Performance

Shares of Bunge Global stock traded down $1.38 on Friday, hitting $102.68. 724,710 shares of the company traded hands, compared to its average volume of 1,756,873. The business has a 50-day simple moving average of $99.28 and a 200 day simple moving average of $100.01. Bunge Global has a 52 week low of $86.10 and a 52 week high of $116.59. The stock has a market capitalization of $14.48 billion, a P/E ratio of 8.38 and a beta of 0.64. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.20 and a current ratio of 1.99.

Analysts Set New Price Targets

Several equities research analysts have weighed in on BG shares. StockNews.com cut shares of Bunge Global from a “buy” rating to a “hold” rating in a research report on Monday, February 26th. Wolfe Research cut shares of Bunge Global from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, January 10th. Roth Mkm reduced their price objective on shares of Bunge Global from $161.00 to $138.00 and set a “buy” rating for the company in a research note on Monday, February 5th. BMO Capital Markets dropped their price target on shares of Bunge Global from $130.00 to $120.00 and set an “outperform” rating on the stock in a report on Thursday, February 8th. Finally, Barclays dropped their price target on shares of Bunge Global from $125.00 to $115.00 and set an “overweight” rating on the stock in a report on Tuesday, January 23rd. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $121.00.

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.