Bunge Ltd Up 0.59% To $90.56 After Earnings
February 7, 2024 | by magnews24.com
Bunge Global SA (BG) reported less than expected earnings this morning for Q4 2023.
reported that it broke-even during the quarter.
The stock is up 0.59% to $90.56 after the report.
The firm’s lower revenue growth to earnings signals that the firm has been able to reduce costs and improve its profit margin overall.
The average recommendation from Wall Street analysts was a Buy which may get revised based on this new data.
Trading in the five days leading up to the report earned Bunge Ltd a Bullish Sentiment Rank from InvestorsObserver.
Bunge Ltd has performed poorly during the past few months, garnering a low Long-Term Technical Rank by InvestorsObserver of 14, putting Bunge Ltd in the bottom 25% of stocks. The firm was recently trading at a 52-week low of $87.86 on January 26, 2024 and set a 52-week high on August 7, 2023 at $116.59.
Founded in 1818, Bunge is a global agribusiness and food company with operations along the farm-to-consumer food chain. The agribusiness segment generates roughly two thirds of profits and includes the largest oilseed processing capacity globally. The company is a leading oilseed processor and seller of packaged vegetable oils and other food and ingredients products.