Bunge Global (NYSE:BG) Updates FY 2024 Earnings Guidance

Bunge Global (NYSE:BG) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 9.250- for the period, compared to the consensus estimate of 9.430. The company issued revenue guidance of -. Bunge Global also updated its FY24 guidance to at least $9.25 EPS.

Bunge Global Trading Down 1.7 %

Shares of Bunge Global stock traded down $1.40 during trading hours on Friday, hitting $82.62. The company’s stock had a trading volume of 2,943,979 shares, compared to its average volume of 1,523,593. Bunge Global has a 12 month low of $82.45 and a 12 month high of $114.92. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.07 and a quick ratio of 0.97. The company has a market capitalization of $11.70 billion, a PE ratio of 10.46 and a beta of 0.64. The stock has a 50 day moving average of $95.66 and a 200 day moving average of $101.67.

Bunge Global (NYSE:BG) last announced its quarterly earnings results on Wednesday, October 30th. The basic materials company reported $2.29 earnings per share for the quarter, beating analysts’ consensus estimates of $2.18 by $0.11. The firm had revenue of $12.91 billion for the quarter, compared to analyst estimates of $12.68 billion. Bunge Global had a net margin of 2.11% and a return on equity of 13.71%. Analysts predict that Bunge Global will post 9.35 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

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.