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

Bunge Global (NYSE:BG) issued an update on its FY 2024 earnings guidance on Wednesday morning. 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.

Analyst Upgrades and Downgrades

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

Bunge Global Trading Down 1.7 %

NYSE BG opened at $82.62 on Friday. Bunge Global has a 52-week low of $82.45 and a 52-week high of $114.92. The firm has a 50-day moving average price of $95.66 and a 200 day moving average price of $101.67. The stock has a market capitalization 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 (EPS) for the quarter, topping analysts’ consensus estimates of $2.18 by $0.11. Bunge Global had a return on equity of 13.71% and a net margin of 2.11%. The business had revenue of $12.91 billion during the quarter, compared to the consensus estimate of $12.68 billion. Equities research analysts expect that Bunge Global will post 9.35 EPS for the current year.

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.