Roth Capital Research Analysts Cut Earnings Estimates for Bunge Global SA (NYSE:BG)

Bunge Global SA (NYSE:BGFree Report) – Stock analysts at Roth Capital cut their Q1 2024 EPS estimates for Bunge Global in a report released on Wednesday, February 7th. Roth Capital analyst B. Wright now anticipates that the basic materials company will earn $3.05 per share for the quarter, down from their previous estimate of $3.21. The consensus estimate for Bunge Global’s current full-year earnings is $9.07 per share.

Several other research firms also recently commented on BG. The Goldman Sachs Group decreased their target price on shares of Bunge Global from $160.00 to $141.00 and set a “buy” rating for the company in a research report on Wednesday, January 24th. HSBC raised shares of Bunge Global from a “hold” rating to a “buy” rating and decreased their target price for the stock from $122.00 to $105.00 in a research report on Friday. BMO Capital Markets decreased their target price on shares of Bunge Global from $130.00 to $120.00 and set an “outperform” rating for the company in a research report on Thursday. Barclays decreased 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 report on Tuesday, January 23rd. Finally, Robert W. Baird decreased their target price on shares of Bunge Global from $125.00 to $108.00 and set a “neutral” rating for the company in a research report on Tuesday, January 23rd. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, Bunge Global currently has an average rating of “Moderate Buy” and a consensus price target of $121.11.

View Our Latest Stock Report on Bunge Global

Bunge Global Price Performance

Shares of NYSE BG opened at $88.54 on Friday. The firm’s 50-day moving average price is $97.20 and its 200-day moving average price is $104.82. Bunge Global has a 1-year low of $86.10 and a 1-year high of $116.59. The firm has a market capitalization of $12.86 billion, a P/E ratio of 5.95 and a beta of 0.62. The company has a current ratio of 2.13, a quick ratio of 1.10 and a debt-to-equity ratio of 0.35.

Bunge Global (NYSE:BGGet Free Report) last announced its quarterly earnings data on Wednesday, February 7th. The basic materials company reported $3.70 earnings per share for the quarter, beating 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 firm had revenue of $14.94 billion for the quarter, compared to analyst estimates of $14.96 billion. During the same quarter in the prior year, the business earned $3.24 earnings per share. The business’s quarterly revenue was down 10.3% compared to the same quarter last year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Capital World Investors grew its position in shares of Bunge Global by 0.4% during the 2nd quarter. Capital World Investors now owns 20,071,889 shares of the basic materials company’s stock valued at $1,893,737,000 after acquiring an additional 76,544 shares during the period. Vanguard Group Inc. lifted its stake in shares of Bunge Global by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 18,376,767 shares of the basic materials company’s stock valued at $1,989,285,000 after buying an additional 60,660 shares in the last quarter. State Street Corp lifted its stake in shares of Bunge Global by 1.4% during the 2nd quarter. State Street Corp now owns 6,912,885 shares of the basic materials company’s stock valued at $652,231,000 after buying an additional 98,422 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Bunge Global by 3.4% during the 2nd quarter. Geode Capital Management LLC now owns 3,204,320 shares of the basic materials company’s stock valued at $301,543,000 after buying an additional 104,162 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in shares of Bunge Global by 28.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 2,942,342 shares of the basic materials company’s stock valued at $318,509,000 after buying an additional 659,471 shares in the last quarter. 84.92% of the stock is owned by institutional investors.

About Bunge Global

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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.

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