Bunge Global SA (NYSE:BG) to Issue Quarterly Dividend of $0.68

Bunge Global SA (NYSE:BG) declared a quarterly dividend on Monday, May 6th, Wall Street Journal reports. Shareholders of record on Monday, August 19th will be given a dividend of 0.68 per share by the basic materials company on Monday, September 2nd. This represents a $2.72 annualized dividend and a yield of 2.66%. The ex-dividend date is Monday, August 19th. This is an increase from Bunge Global’s previous quarterly dividend of $0.66.

Bunge Global has a dividend payout ratio of 22.8% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Bunge Global to earn $9.43 per share next year, which means the company should continue to be able to cover its $2.65 annual dividend with an expected future payout ratio of 28.1%.

Bunge Global Stock Up 1.1 %

BG traded up $1.11 during trading on Monday, hitting $102.26. 684,100 shares of the company’s stock were exchanged, compared to its average volume of 1,724,400. The company has a quick ratio of 1.10, a current ratio of 1.99 and a debt-to-equity ratio of 0.35. The business’s 50 day moving average is $100.39 and its two-hundred day moving average is $99.88. Bunge Global has a fifty-two week low of $86.10 and a fifty-two week high of $116.59. The stock has a market cap of $14.48 billion, a P/E ratio of 8.14 and a beta of 0.65.

Bunge Global (NYSE:BG) last announced its earnings results on Wednesday, April 24th. The basic materials company reported $3.04 EPS for the quarter, beating the consensus estimate of $2.55 by $0.49. The company had revenue of $13.42 billion during the quarter, compared to the consensus estimate of $13.96 billion. Bunge Global had a net margin of 3.22% and a return on equity of 17.49%. The firm’s revenue for the quarter was down 12.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.26 earnings per share. As a group, equities analysts expect that Bunge Global will post 9.03 earnings per share for the current fiscal year.

Analyst Ratings Changes

BG has been the subject of a number of recent research reports. The Goldman Sachs Group cut their price objective on Bunge Global from $141.00 to $126.00 and set a “buy” rating for the company in a research note on Tuesday, February 13th. Citigroup raised their price objective on Bunge Global from $117.00 to $122.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. Barclays lowered their price target on Bunge Global from $125.00 to $115.00 and set an “overweight” rating for the company in a report on Tuesday, January 23rd. Robert W. Baird lowered their target price on shares of Bunge Global from $125.00 to $108.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 23rd. Finally, HSBC raised Bunge Global from a “hold” rating to a “buy” rating and cut their price target for the company from $122.00 to $105.00 in a report on Friday, February 9th. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $121.00.

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.