Bunge Global (BG) Set to Announce Earnings on Wednesday

Bunge Global (NYSE:BG) will be issuing its quarterly earnings data before the market opens on Wednesday, April 24th. Analysts expect the company to announce earnings of $2.67 per share for the quarter. Bunge Global has set its FY24 guidance at $9.00 EPS and its FY 2024 guidance at 9.000-9.000 EPS.Parties interested in listening to the company’s conference call can do so using this link.

Bunge Global (NYSE:BG) last issued its quarterly earnings data on Wednesday, February 7th. The basic materials company reported $3.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.81 by $0.89. Bunge Global had a net margin of 3.77% and a return on equity of 18.30%. The company had revenue of $14.94 billion during the quarter, compared to the consensus estimate of $14.96 billion. During the same quarter in the prior year, the firm earned $3.24 earnings per share. The firm’s revenue was down 10.3% compared to the same quarter last year. 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 Up 0.0 %

Shares of BG stock opened at $103.95 on Wednesday. The firm has a fifty day moving average of $96.72 and a 200-day moving average of $99.82. The company has a quick ratio of 1.20, a current ratio of 2.13 and a debt-to-equity ratio of 0.35. Bunge Global has a 12-month low of $86.10 and a 12-month high of $116.59. The company has a market capitalization of $14.66 billion, a price-to-earnings ratio of 6.98 and a beta of 0.64.

Hedge Funds Weigh In On Bunge Global

A number of hedge funds have recently bought and sold shares of the business. Hobbs Group Advisors LLC bought a new position in Bunge Global in the 4th quarter valued at about $97,000. Harbour Investments Inc. bought a new position in Bunge Global in the 4th quarter valued at about $52,000. GSA Capital Partners LLP bought a new position in Bunge Global in the 4th quarter valued at about $1,640,000. Public Employees Retirement System of Ohio boosted its stake in shares of Bunge Global by 3.7% in the 4th quarter. Public Employees Retirement System of Ohio now owns 63,116 shares of the basic materials company’s stock valued at $6,372,000 after purchasing an additional 2,271 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV acquired a new stake in shares of Bunge Global in the 4th quarter valued at approximately $549,000. 86.23% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Citigroup increased their target price on shares of Bunge Global from $108.00 to $117.00 and gave the stock a “buy” rating in a report on Wednesday, April 3rd. Robert W. Baird cut their price target on shares of Bunge Global from $125.00 to $108.00 and set a “neutral” rating for the company in a research note on Tuesday, January 23rd. StockNews.com cut shares of Bunge Global from a “buy” rating to a “hold” rating in a research note on Monday, February 26th. Roth Mkm cut their price target on shares of Bunge Global from $161.00 to $138.00 and set a “buy” rating for the company in a research note on Monday, February 5th. Finally, Barclays cut their target price on shares of Bunge Global from $125.00 to $115.00 and set an “overweight” rating for the company in a research note on Tuesday, January 23rd. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $120.44.

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.