Based in Chesterfield, Missouri, Bunge Global SA (BG) is an agribusiness and food industry leader. It is renowned for its comprehensive suite of services, including grain trading, oilseed processing, and food production solutions. With a market cap of $15.87 billion, BG is recognized for its innovation, operational excellence, and commitment to enhancing the global food supply chain. BG is scheduled to announce its fiscal Q2 earnings results before the market opens on Wednesday, Jul. 31.
Ahead of the event, analysts expect BG to report a profit of $1.79 per share, down 51.9% from $3.72 per share in the year-ago quarter. The company has consistently surpassed Wall Street’s EPS estimates in its last four quarterly reports.
The company's adjusted earnings of $3.04 per share for the last quarter surpassed the consensus estimate by 19.2%. Improved processing results helped the company beat analyst estimates.
For fiscal 2024, analysts expect BG to report EPS of $9.20, up 32.7% from $13.66 in fiscal 2023.
BG stock is up 11% on a YTD basis, underperforming the broader S&P 500 Index's ($SPX) 13.8% gains. However, the stock has outperformed the Consumer Staples Select Sector SPDR Fund’s (XLP) 8% returns over the same time frame.
On Apr. 24, Bunge Global saw a decline of over 4% after reporting Q1 net sales of $13.42 billion, falling short of the consensus estimate of $13.78 billion.
The consensus opinion on BG stock is optimistic, with an overall “Moderate Buy” rating. Out of nine analysts covering the stock, six advise a “Strong Buy” rating, and three recommend a “Hold.”
This configuration is less bullish than three months ago when the stock had seven “Strong Buy” ratings. BG's average analyst price target is $115.33, indicating a potential upside of 2.9% from the current levels.
On the date of publication, Rashmi Kumari did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
