Bunge Global SA (NYSE:BG) Raises Dividend to $0.70 Per Share

Bunge Global SA (NYSE:BG) declared a quarterly dividend on Monday, May 12th, Wall Street Journal reports. Investors of record on Monday, May 19th will be given a dividend of 0.70 per share by the basic materials company on Monday, June 2nd. This represents a $2.80 dividend on an annualized basis and a yield of 3.37%. The ex-dividend date of this dividend is Monday, May 19th. This is a 2.9% increase from Bunge Global’s previous quarterly dividend of $0.68.

Bunge Global has a payout ratio of 22.8% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Bunge Global to earn $8.98 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 29.5%.

Bunge Global Trading Up 3.7%

NYSE BG opened at $83.11 on Wednesday. Bunge Global has a twelve month low of $67.40 and a twelve month high of $114.92. The stock has a market cap of $11.17 billion, a price-to-earnings ratio of 10.29, a PEG ratio of 2.66 and a beta of 0.68. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.27 and a current ratio of 2.15. The firm’s 50 day moving average price is $76.38 and its two-hundred day moving average price is $78.74.

Bunge Global (NYSE:BG) last released its quarterly earnings results on Wednesday, May 7th. The basic materials company reported $1.81 EPS for the quarter, beating analysts’ consensus estimates of $1.27 by $0.54. Bunge Global had a net margin of 2.14% and a return on equity of 11.73%. The company had revenue of $11.64 billion for the quarter, compared to analyst estimates of $13.18 billion. During the same quarter last year, the firm posted $3.04 earnings per share. The company’s quarterly revenue was down 13.2% compared to the same quarter last year. Equities analysts anticipate that Bunge Global will post 7.94 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on BG shares. Stephens lowered their price objective on shares of Bunge Global from $90.00 to $85.00 and set an “overweight” rating for the company in a research report on Thursday, May 8th. Citigroup boosted their price target on Bunge Global from $76.00 to $77.00 and gave the stock a “neutral” rating in a report on Tuesday, April 15th. Morgan Stanley dropped their price objective on shares of Bunge Global from $90.00 to $74.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 11th. Barclays dropped their price target on shares of Bunge Global from $95.00 to $85.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 6th. Finally, Bank of America reduced their price target on shares of Bunge Global from $105.00 to $87.00 and set a “buy” rating on the stock in a research report on Tuesday, February 11th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $81.60.

Bunge Global Company Profile

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.