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 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 Stock Down 2.1 %

Shares of Bunge Global stock traded down $2.26 during trading hours on Thursday, reaching $103.53. 726,316 shares of the company’s stock were exchanged, compared to its average volume of 1,753,862. Bunge Global has a fifty-two week low of $86.10 and a fifty-two week high of $116.59. The stock has a market cap of $14.60 billion, a P/E ratio of 6.95 and a beta of 0.64. The company has a 50 day moving average of $99.02 and a two-hundred day moving average of $99.98. 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 issued its quarterly earnings data on Wednesday, April 24th. The basic materials company reported $3.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.55 by $0.49. The firm had revenue of $13.42 billion during the quarter, compared to the consensus estimate of $13.96 billion. Bunge Global had a net margin of 3.77% and a return on equity of 18.30%. The business’s revenue for the quarter was down 12.5% compared to the same quarter last year. During the same period last year, the business posted $3.26 earnings per share. On average, sell-side analysts forecast that Bunge Global will post 9.26 EPS for the current fiscal year.

Analysts Set New Price Targets

BG has been the subject of a number of recent analyst reports. 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 report on Monday, February 5th. Citigroup increased their target price on shares of Bunge Global from $108.00 to $117.00 and gave the stock a buy rating in a research note on Wednesday, April 3rd. StockNews.com lowered shares of Bunge Global from a buy rating to a hold rating in a report on Monday, February 26th. Robert W. Baird reduced their target price 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. Finally, Wolfe Research lowered shares of Bunge Global from an outperform rating to a peer perform rating in a report on Wednesday, January 10th. Four investment 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 company has an average rating of Moderate Buy and an average price target 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.