Bunge Global (NYSE:BG) Releases FY24 Earnings Guidance

Bunge Global (NYSE:BG - Get Free Report) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of approx $9.00 for the period, compared to the consensus estimate of $9.33. Bunge Global also updated its FY 2024 guidance to 9.000-9.000 EPS.

Bunge Global Trading Down 3.5 %

Shares of NYSE:BG traded down $3.85 during trading on Wednesday, hitting $105.77. 3,629,808 shares of the company's stock were exchanged, compared to its average volume of 1,767,683. Bunge Global has a 1-year low of $86.10 and a 1-year high of $116.59. The firm has a 50-day moving average price of $99.02 and a two-hundred day moving average price 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. The firm has a market cap of $14.91 billion, a P/E ratio of 7.10 and a beta of 0.64.

Bunge Global (NYSE:BG - Get Free Report) last released its quarterly earnings data on Wednesday, February 7th. The basic materials company reported $3.70 earnings per share for the quarter, topping the consensus estimate of $2.81 by $0.89. Bunge Global had a net margin of 3.77% and a return on equity of 18.30%. The business had revenue of $14.94 billion for the quarter, compared to analyst estimates of $14.96 billion. During the same quarter last year, the firm earned $3.24 EPS. Bunge Global's quarterly revenue was down 10.3% compared to the same quarter last year. Equities analysts predict that Bunge Global will post 9.26 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have weighed in on BG shares. HSBC raised shares of Bunge Global from a hold rating to a buy rating and cut their price target for the company from $122.00 to $105.00 in a research note on Friday, February 9th. BMO Capital Markets lowered their price objective 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. Wolfe Research downgraded shares of Bunge Global from an outperform rating to a peer perform rating in a report on Wednesday, January 10th. The Goldman Sachs Group lowered their price objective on shares of Bunge Global from $141.00 to $126.00 and set a buy rating on the stock in a report on Tuesday, February 13th. Finally, Roth Mkm lowered their price objective on shares of Bunge Global from $161.00 to $138.00 and set a buy rating on the stock in a report on Monday, February 5th. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average target price 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.