Bunge Global (BG) Set to Announce Quarterly Earnings on Wednesday

Bunge Global (NYSE:BG) is set to issue 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 posted its quarterly earnings results on Wednesday, February 7th. The basic materials company reported $3.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.81 by $0.89. The firm had revenue of $14.94 billion for the quarter, compared to analysts’ expectations of $14.96 billion. Bunge Global had a net margin of 3.77% and a return on equity of 18.30%. The firm’s quarterly revenue was down 10.3% on a year-over-year basis. During the same period in the prior year, the company posted $3.24 earnings per share. On average, analysts expect Bunge Global to post $9 EPS for the current fiscal year and $10 EPS for the next fiscal year.

Bunge Global Trading Up 2.8 %

BG opened at $109.52 on Monday. The stock has a market capitalization of $15.44 billion, a PE ratio of 7.36 and a beta of 0.64. The firm’s fifty day moving average price is $97.89 and its 200 day moving average price is $99.85. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.13 and a quick ratio of 1.20. Bunge Global has a 12-month low of $86.10 and a 12-month high of $116.59.

Institutional Trading of Bunge Global

Hedge funds have recently bought and sold shares of the company. Raymond James Financial Services Advisors Inc. raised its position in shares of Bunge Global by 12.6% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 17,858 shares of the basic materials company’s stock worth $1,979,000 after buying an additional 1,994 shares in the last quarter. HighTower Advisors LLC bought a new stake in shares of Bunge Global during the 1st quarter worth about $494,000. Yousif Capital Management LLC raised its position in shares of Bunge Global by 6.5% during the 1st quarter. Yousif Capital Management LLC now owns 8,767 shares of the basic materials company’s stock worth $971,000 after buying an additional 535 shares in the last quarter. Prudential PLC bought a new stake in shares of Bunge Global during the 1st quarter worth about $530,000. Finally, Vanguard Group Inc. raised its position in shares of Bunge Global by 5.2% during the 1st quarter. Vanguard Group Inc. now owns 14,105,841 shares of the basic materials company’s stock worth $1,563,069,000 after buying an additional 696,806 shares in the last quarter. 86.23% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

BG has been the topic of several recent analyst reports. Wolfe Research cut shares of Bunge Global from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 10th. Robert W. Baird dropped their target price on shares of Bunge Global from $125.00 to $108.00 and set a “neutral” rating on the stock in a report on Tuesday, January 23rd. StockNews.com cut shares of Bunge Global from a “buy” rating to a “hold” rating in a report on Monday, February 26th. Roth Mkm dropped their target price on shares of Bunge Global from $161.00 to $138.00 and set a “buy” rating on the stock in a report on Monday, February 5th. Finally, HSBC raised shares of Bunge Global from a “hold” rating to a “buy” rating and dropped their target price for the stock from $122.00 to $105.00 in a report on Friday, February 9th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Bunge Global has an average rating of “Moderate Buy” and a consensus 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.