Bunge Global (NYSE:BG) Updates FY 2024 Earnings Guidance

Bunge Global (NYSE:BG) updated its FY 2024 earnings guidance on Wednesday. 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 also updated its FY24 guidance to approx $9.00 EPS.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. The Goldman Sachs Group reduced their price target on Bunge Global from $141.00 to $126.00 and set a buy rating on the stock in a report on Tuesday, February 13th. Barclays reduced their price target on Bunge Global from $125.00 to $115.00 and set an overweight rating on the stock in a report on Tuesday, January 23rd. Citigroup lifted their price target on Bunge Global from $108.00 to $117.00 and gave the stock a buy rating in a report on Wednesday, April 3rd. Wolfe Research lowered shares of Bunge Global from an outperform rating to a peer perform rating in a report on Wednesday, January 10th. Finally, Robert W. Baird reduced their price objective on shares of Bunge Global from $125.00 to $108.00 and set a neutral rating on the stock in a report on Tuesday, January 23rd. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of Moderate Buy and a consensus price target of $120.44.

Bunge Global Stock Performance

NYSE BG opened at $105.77 on Thursday. The company has a market cap of $14.91 billion, a P/E ratio of 7.10 and a beta of 0.64. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.13 and a quick ratio of 1.20. The stock has a 50-day moving average of $99.02 and a two-hundred day moving average of $99.98. Bunge Global has a 1-year low of $86.10 and a 1-year high of $116.59.

Bunge Global (NYSE:BG) last released its earnings results on Wednesday, February 7th. The basic materials company reported $3.70 earnings per share 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 the consensus estimate of $14.96 billion. Bunge Global had a return on equity of 18.30% and a net margin of 3.77%. Bunge Global’s revenue was down 10.3% compared to the same quarter last year. During the same period in the previous year, the company posted $3.24 EPS. As a group, analysts anticipate that Bunge Global will post 9.26 EPS for the current year.

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.