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

Bunge Global (NYSE:BG) released its earnings results on Wednesday. The basic materials company reported $1.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.79 by ($0.06), Briefing.com reports. Bunge Global had a return on equity of 14.84% and a net margin of 2.33%. The firm had revenue of $13.24 billion for the quarter, compared to analyst estimates of $14.30 billion. During the same period in the previous year, the firm earned $3.72 earnings per share. Bunge Global’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 Down 4.5 %

NYSE:BG traded down $4.65 during trading hours on Friday, hitting $98.42. 1,931,785 shares of the company’s stock traded hands, compared to its average volume of 1,227,611. Bunge Global has a twelve month low of $86.10 and a twelve month high of $116.59. The firm has a market cap of $13.94 billion, a P/E ratio of 7.93 and a beta of 0.67. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.10 and a current ratio of 2.03. The stock’s fifty day moving average price is $107.76 and its two-hundred day moving average price is $101.34.

Bunge Global Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th will be given a $0.68 dividend. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $2.72 annualized dividend and a dividend yield of 2.76%. Bunge Global’s dividend payout ratio (DPR) is presently 21.90%.

Insiders Place Their Bets

In other Bunge Global news, insider Christos Dimopoulos sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $103.26, for a total value of $2,065,200.00. Following the transaction, the insider now owns 87,999 shares in the company, valued at approximately $9,086,776.74. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 0.60% of the company’s stock.

Wall Street Analyst Weigh In

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

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.