Bunge Global (NYSE:BG) Releases Earnings Results, Misses Expectations By $0.06 EPS

Bunge Global (NYSE:BG) issued its quarterly earnings results on Wednesday. The basic materials company reported $1.73 EPS for the quarter, missing the consensus estimate of $1.79 by ($0.06), Briefing.com reports. The company had revenue of $13.24 billion for the quarter, compared to the consensus estimate of $14.30 billion. Bunge Global had a return on equity of 14.67% and a net margin of 2.33%. The business’s revenue for the quarter was down 12.0% on a year-over-year basis. During the same period in the previous year, the business posted $3.72 EPS. 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

Shares of Bunge Global stock traded down $4.33 during trading on Friday, hitting $98.74. 449,500 shares of the stock were exchanged, compared to its average volume of 1,539,434. The stock has a market cap of $13.98 billion, a PE ratio of 8.30 and a beta of 0.67. The stock’s fifty day moving average is $107.87 and its 200 day moving average is $101.31. Bunge Global has a 12 month low of $86.10 and a 12 month high of $116.59. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.10 and a current ratio of 1.99.

Bunge Global Announces Dividend

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

Wall Street Analyst Weigh In

Separately, Citigroup lowered Bunge Global from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $125.00 to $114.00 in a research report on Thursday. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $120.11.

Insider Buying and Selling at Bunge Global

In related 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 value of $2,065,200.00. Following the completion of the transaction, the insider now directly owns 87,999 shares of the company’s stock, valued at approximately $9,086,776.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.60% of the stock is currently owned by company insiders.

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.