Bunge Global SA (BG) recently shared its Q2 2024 earnings call transcript, revealing a significant earnings drop. Its ongoing $8.2 billion Viterra acquisition has momentarily stalled, causing some concern amongst investors despite securing conditional approval from the EU. Amid increased stock holdings by prominent entities like Price T Rowe Associates Inc., Teachers Retirement System of The State of Kentucky has sold a notable amount of shares. Second quarter results for 2024 indicate reduced earnings, largely due to a surge in bumper harvests. Reduced Q2 earnings and stock sell-offs by insiders have not stripped the company of its 'Moderate Buy' status. Bunge's recent biofuel sector woes have fostered doubts about the viability of the Viterra deal. Anticipated dividends of $0.68 don't seem to offset concerns about declining processing margins. The company has updated their 2024 earnings guidance, confirming the closure of the significant $8.2 billion Viterra deal. Despite accusations of a rather mundane P/E ratio, Bunge experiences growth in institutional ownership.
Bunge Global Sa BG News Analytics from Fri, 07 Aug 2020 22:27:46 GMT to Sun, 04 Aug 2024 15:14:37 GMT -
Rating 3
- Innovation -2
- Information 8
- Rumor -6
