Bunge Global (NYSE:BG) Issues Quarterly Earnings Results

Bunge Global (NYSE:BG) posted its earnings results on Wednesday. The basic materials company reported $1.73 EPS for the quarter, missing analysts’ consensus estimates of $1.79 by ($0.06), Briefing.com reports. Bunge Global had a net margin of 2.33% and a return on equity of 14.67%. The firm had revenue of $13.24 billion for the quarter, compared to analysts’ expectations of $14.30 billion. During the same period in the previous year, the company earned $3.72 EPS. The company’s revenue was down 12.0% on a year-over-year basis. Bunge Global updated its FY 2024 guidance to 9.250-9.250 EPS and its FY24 guidance to ~$9.25 EPS.

Bunge Global Stock Performance

NYSE BG traded down $4.33 during mid-day trading on Friday, reaching $98.74. 449,500 shares of the stock were exchanged, compared to its average volume of 1,539,434. The company has a market capitalization of $13.98 billion, a P/E ratio of 8.30 and a beta of 0.67. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.10 and a current ratio of 1.99. The business’s 50 day moving average is $107.87 and its 200-day moving average is $101.31. Bunge Global has a 1 year low of $86.10 and a 1 year high of $116.59.

Bunge Global Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th will be paid a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 2.75%. The ex-dividend date is Tuesday, February 18th. Bunge Global’s dividend payout ratio is currently 21.90%.

Insider Buying and Selling at Bunge Global

In other Bunge Global news, insider Christos Dimopoulos sold 20,000 shares of the stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $103.26, for a total transaction of $2,065,200.00. Following the transaction, the insider now owns 87,999 shares in the company, valued at $9,086,776.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Separately, Citigroup downgraded shares of Bunge Global from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $125.00 to $114.00 in a research note on Thursday. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Bunge Global currently has an average rating of “Moderate Buy” and an average price target of $120.11.

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.