Bunge Global (NYSE:BG) Releases Quarterly Earnings Results, Beats Estimates By $0.04 EPS

Bunge Global (NYSE:BG) issued its quarterly earnings data on Wednesday. The basic materials company reported $2.27 EPS for the quarter, topping the consensus estimate of $2.23 by $0.04, Zacks reports. Bunge Global had a net margin of 2.71% and a return on equity of 9.16%. The business had revenue of $22.16 billion during the quarter, compared to analyst estimates of $22.46 billion. During the same period last year, the business posted $2.29 earnings per share. Bunge Global’s quarterly revenue was up 71.6% compared to the same quarter last year.

Bunge Global Price Performance

BG stock traded down $0.32 during mid-day trading on Thursday, hitting $95.26. The company had a trading volume of 754,110 shares, compared to its average volume of 1,851,458. The company has a market capitalization of $19.06 billion, a price-to-earnings ratio of 9.51, a P/E/G ratio of 8.28 and a beta of 0.76. Bunge Global has a 12-month low of $67.40 and a 12-month high of $99.55. The company has a quick ratio of 1.29, a current ratio of 2.07 and a debt-to-equity ratio of 0.59. The company has a 50-day moving average price of $86.31 and a 200 day moving average price of $81.92.

Analyst Ratings Changes

Several analysts have commented on BG shares. Morgan Stanley set a $95.00 price objective on shares of Bunge Global in a report on Monday, October 27th. Weiss Ratings reissued a “hold (c)” rating on shares of Bunge Global in a research report on Wednesday, October 8th. Zacks Research raised shares of Bunge Global from a “strong sell” rating to a “hold” rating in a research report on Monday, October 20th. Barclays raised shares of Bunge Global from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $105.00 to $120.00 in a research report on Thursday. Finally, Stephens lifted their target price on shares of Bunge Global from $85.00 to $115.00 and gave the stock an “overweight” rating in a research report on Friday, October 17th. Five investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $101.57.

Insider Buying and Selling

In other Bunge Global news, Director Christopher Mahoney bought 5,000 shares of the firm’s stock in a transaction dated Monday, August 18th. The shares were purchased at an average cost of $81.73 per share, for a total transaction of $408,650.00. Following the transaction, the director owned 7,164 shares of the company’s stock, valued at $585,513.72. This represents a 231.05% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.80% of the stock is currently owned by insiders.

Institutional Trading of Bunge Global

Several hedge funds have recently made changes to their positions in BG. United Services Automobile Association purchased a new stake in shares of Bunge Global during the 1st quarter valued at about $223,000. Woodline Partners LP grew its holdings in Bunge Global by 34.5% during the 1st quarter. Woodline Partners LP now owns 11,278 shares of the basic materials company’s stock valued at $862,000 after purchasing an additional 2,893 shares during the last quarter. Focus Partners Wealth grew its holdings in Bunge Global by 16.7% during the 1st quarter. Focus Partners Wealth now owns 4,046 shares of the basic materials company’s stock valued at $309,000 after purchasing an additional 580 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in Bunge Global by 118.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 910 shares of the basic materials company’s stock valued at $73,000 after purchasing an additional 494 shares during the last quarter. Finally, Baird Financial Group Inc. grew its holdings in Bunge Global by 1.1% during the 2nd quarter. Baird Financial Group Inc. now owns 23,760 shares of the basic materials company’s stock valued at $1,907,000 after purchasing an additional 263 shares during the last quarter. 86.23% of the stock is currently owned by hedge funds and other institutional investors.

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.