Bunge Global (BG) Set to Announce Earnings on Wednesday

Bunge Global (NYSE:BG) is scheduled to be releasing its earnings data before the market opens on Wednesday, April 24th. Analysts expect Bunge Global to post 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 registering for the company’s conference call can do so using this link.

Bunge Global (NYSE:BG) last announced its quarterly earnings data on Wednesday, February 7th. The basic materials company reported $3.70 earnings per share for the quarter, topping the consensus estimate of $2.81 by $0.89. Bunge Global had a return on equity of 18.30% and a net margin of 3.77%. The company had revenue of $14.94 billion during the quarter, compared to analyst estimates of $14.96 billion. During the same quarter last year, the firm posted $3.24 EPS. The firm’s revenue for the quarter was down 10.3% on a year-over-year basis. 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 NYSE BG opened at $103.95 on Wednesday. Bunge Global has a 52 week low of $86.10 and a 52 week high of $116.59. The business has a 50-day simple moving average of $96.72 and a two-hundred day simple 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. The company has a market cap of $14.66 billion, a P/E ratio of 6.98 and a beta of 0.64.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Robert W. Baird decreased their price target on Bunge Global from $125.00 to $108.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 23rd. HSBC raised Bunge Global from a “hold” rating to a “buy” rating and decreased their price target for the stock from $122.00 to $105.00 in a research note on Friday, February 9th. BMO Capital Markets decreased their price target on Bunge Global from $130.00 to $120.00 and set an “outperform” rating on the stock in a research note on Thursday, February 8th. The Goldman Sachs Group reduced their target price on Bunge Global from $141.00 to $126.00 and set a “buy” rating on the stock in a research note on Tuesday, February 13th. Finally, StockNews.com cut Bunge Global from a “buy” rating to a “hold” rating in a research note on Monday, February 26th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $120.44.

Institutional Investors Weigh In On Bunge Global

Several hedge funds have recently added to or reduced their stakes in BG. State Street Corp boosted its holdings in Bunge Global by 77.5% in the first quarter. State Street Corp now owns 6,814,463 shares of the basic materials company’s stock worth $650,918,000 after acquiring an additional 2,975,929 shares in the last quarter. Norges Bank bought a new position in shares of Bunge Global during the fourth quarter valued at $186,143,000. Geode Capital Management LLC lifted its holdings in shares of Bunge Global by 59.8% during the first quarter. Geode Capital Management LLC now owns 3,100,158 shares of the basic materials company’s stock valued at $295,462,000 after purchasing an additional 1,159,939 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Bunge Global by 5.2% during the first quarter. Vanguard Group Inc. now owns 14,105,841 shares of the basic materials company’s stock valued at $1,563,069,000 after purchasing an additional 696,806 shares in the last quarter. Finally, Renaissance Technologies LLC bought a new position in shares of Bunge Global during the first quarter valued at $74,642,000. 86.23% of the stock is owned by institutional investors.

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.