Bunge Global (NYSE:BG) Issues FY24 Earnings Guidance

Bunge Global (NYSE:BG) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided EPS guidance of at least $9.25 for the period, compared to the consensus EPS estimate of $9.45. Bunge Global also updated its FY 2024 guidance to 9.250- EPS.

Wall Street Analyst Weigh In

Separately, Citigroup downgraded shares of Bunge Global from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $125.00 to $114.00 in a report on Thursday, August 1st. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Bunge Global presently has an average rating of “Moderate Buy” and an average price target of $118.00.

Bunge Global Trading Up 0.5 %

NYSE:BG traded up $0.48 during mid-day trading on Wednesday, reaching $88.32. The company’s stock had a trading volume of 737,722 shares, compared to its average volume of 1,495,911. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.03 and a quick ratio of 0.97. The stock has a market cap of $12.51 billion, a P/E ratio of 7.07 and a beta of 0.64. The company’s fifty day simple moving average is $96.44 and its two-hundred day simple moving average is $102.06. Bunge Global has a twelve month low of $86.10 and a twelve month high of $114.92.

Bunge Global (NYSE:BG) last released its earnings results on Wednesday, July 31st. The basic materials company reported $1.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.79 by ($0.06). Bunge Global had a return on equity of 14.84% and a net margin of 2.33%. The company had revenue of $13.24 billion during the quarter, compared to analyst estimates of $14.30 billion. During the same period in the prior year, the business posted $3.72 earnings per share. Bunge Global’s revenue was down 12.0% on a year-over-year basis. On average, equities analysts predict that Bunge Global will post 9.3 EPS for the current year.

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.