Bunge Global (NYSE:BG) Updates FY24 Earnings Guidance

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

Bunge Global Stock Performance

Shares of BG stock traded up $0.48 during mid-day trading on Wednesday, hitting $88.32. The stock had a trading volume of 737,722 shares, compared to its average volume of 1,495,911. The firm has a market cap of $12.51 billion, a PE ratio of 7.07 and a beta of 0.64. The company’s 50-day simple moving average is $96.44 and its 200-day simple moving average is $102.06. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.03 and a quick ratio of 0.97. Bunge Global has a fifty-two week low of $86.10 and a fifty-two week high of $114.92.

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

Analyst Ratings Changes

Separately, Citigroup lowered Bunge Global from a “buy” rating to a “neutral” rating and dropped their price objective 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 company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price 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.