Bunge Global (NYSE:BG) Releases Earnings Results

Bunge Global (NYSE:BG - Get Free Report) issued its quarterly earnings results on Wednesday. The basic materials company reported $3.04 EPS for the quarter, topping the consensus estimate of $2.55 by $0.49, Briefing.com reports. The firm had revenue of $13.42 billion during the quarter, compared to analyst estimates of $13.96 billion. Bunge Global had a net margin of 3.77% and a return on equity of 18.30%. Bunge Global's revenue for the quarter was down 12.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.26 earnings per share. 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

BG traded down $1.73 during midday trading on Thursday, hitting $104.06. The company had a trading volume of 1,996,559 shares, compared to its average volume of 1,770,546. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.20 and a current ratio of 2.13. The company has a market capitalization of $14.67 billion, a PE ratio of 6.95 and a beta of 0.64. Bunge Global has a twelve month low of $86.10 and a twelve month high of $116.59. The firm's 50-day simple moving average is $99.02 and its 200-day simple moving average is $99.98.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. HSBC raised Bunge Global from a "hold" rating to a "buy" rating and dropped their target price for the stock from $122.00 to $105.00 in a research report on Friday, February 9th. Barclays lowered their price objective on Bunge Global from $125.00 to $115.00 and set an "overweight" rating for the company in a report on Tuesday, January 23rd. BMO Capital Markets reduced their price objective on Bunge Global from $130.00 to $120.00 and set an "outperform" rating for the company in a research report on Thursday, February 8th. Robert W. Baird cut their target price on Bunge Global from $125.00 to $108.00 and set a "neutral" rating for the company in a research report on Tuesday, January 23rd. 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 report on Monday, February 5th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Bunge Global presently has an average rating of "Moderate Buy" and an average target price of $120.44.

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.