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

Bunge Global (NYSE:BG) updated its FY 2024 earnings guidance on Wednesday. The company provided EPS guidance of 9.250- for the period, compared to the consensus EPS 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 Price Performance

Shares of BG traded down $1.40 during mid-day trading on Friday, hitting $82.62. 2,943,979 shares of the company traded hands, compared to its average volume of 1,523,593. The company has a current ratio of 2.07, a quick ratio of 0.97 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $11.70 billion, a price-to-earnings ratio of 10.46 and a beta of 0.64. The business has a 50-day moving average of $95.66 and a 200 day moving average of $101.67. Bunge Global has a one year low of $82.45 and a one year high of $114.92.

Bunge Global (NYSE:BG) last announced its quarterly earnings data on Wednesday, October 30th. The basic materials company reported $2.29 EPS 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 return on equity of 13.71% and a net margin of 2.11%. As a group, equities analysts expect that Bunge Global will post 9.35 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, Citigroup downgraded shares of Bunge Global from a “buy” rating to a “neutral” rating and cut their target price for the company from $125.00 to $114.00 in a research report on Thursday, August 1st. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $118.00.

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.