Bunge Global (BG) to Release Earnings on Wednesday

Bunge Global (NYSE:BG) is set to release its earnings data before the market opens on Wednesday, October 30th. Analysts expect Bunge Global to post earnings of $2.11 per share for the quarter. Bunge Global has set its FY 2024 guidance at 9.250-9.250 EPS and its FY24 guidance at ~$9.25 EPS.Individual interested in listening to the company’s earnings conference call can do so using this link.

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 the consensus estimate of $1.79 by ($0.06). The company had revenue of $13.24 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.72 EPS. On average, analysts expect Bunge Global to post $9 EPS for the current fiscal year and $9 EPS for the next fiscal year.

Bunge Global Stock Performance

Shares of BG opened at $89.36 on Wednesday. Bunge Global has a one year low of $86.10 and a one year high of $114.92. The company has a market cap of $12.65 billion, a PE ratio of 7.19 and a beta of 0.64. The stock has a 50-day moving average of $97.25 and a 200-day moving average of $102.78. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.03 and a quick ratio of 0.97.

Analysts Set New Price Targets

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