Bunge Global (NYSE:BG) Issues 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.

Analysts Set New Price Targets

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

Bunge Global Stock Performance

NYSE:BG opened at $82.62 on Friday. Bunge Global has a fifty-two week low of $82.45 and a fifty-two week high of $114.92. The firm’s 50 day moving average is $95.66 and its two-hundred day moving average is $101.67. The company has a market cap of $11.70 billion, a P/E ratio of 10.46 and a beta of 0.64. The company has a quick ratio of 0.97, a current ratio of 2.07 and a debt-to-equity ratio of 0.43.

Bunge Global (NYSE:BG) last issued its 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 analysts’ expectations of $12.68 billion. Bunge Global had a return on equity of 13.71% and a net margin of 2.11%. Analysts expect that Bunge Global will post 9.35 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.