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

Bunge Global (NYSE:BG) posted its earnings results on Wednesday. The basic materials company reported $3.04 earnings per share for the quarter, topping analysts’ consensus estimates of $2.55 by $0.49, Briefing.com reports. The business had revenue of $13.42 billion for the quarter, compared to analyst estimates of $13.96 billion. Bunge Global had a net margin of 3.22% and a return on equity of 17.49%. Bunge Global’s revenue was down 12.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $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 Stock Down 1.6 %

Shares of Bunge Global stock opened at $104.06 on Friday. 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 company has a 50-day moving average of $99.28 and a 200 day moving average of $100.01. The firm has a market cap of $14.67 billion, a price-to-earnings ratio of 8.38 and a beta of 0.64. Bunge Global has a 1 year low of $86.10 and a 1 year high of $116.59.

Analyst Ratings Changes

A number of research firms have commented on BG. BMO Capital Markets cut 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 note on Thursday, February 8th. Robert W. Baird cut their price target on shares of Bunge Global from $125.00 to $108.00 and set a “neutral” rating for the company in a research note on Tuesday, January 23rd. Barclays cut their price target on shares of Bunge Global from $125.00 to $115.00 and set an “overweight” rating for the company in a research note on Tuesday, January 23rd. The Goldman Sachs Group cut 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 note on Tuesday, February 13th. Finally, Citigroup boosted their price target on shares of Bunge Global from $117.00 to $122.00 and gave the stock a “buy” rating in a research note on Thursday. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price 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.