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

Bunge Global SA (NYSE:BG) announced a quarterly dividend on Tuesday, May 7th, Wall Street Journal reports. Shareholders of record on Tuesday, February 18th will be paid a dividend of 0.68 per share by the basic materials company on Tuesday, March 4th. This represents a $2.72 dividend on an annualized basis and a yield of 2.59%. The ex-dividend date of this dividend is Tuesday, February 18th.

Bunge Global has a payout ratio of 22.8% indicating that its dividend is sufficiently covered by earnings. Research 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 0.8 %

BG traded up $0.84 during midday trading on Wednesday, reaching $105.19. The company’s stock had a trading volume of 46,875 shares, compared to its average volume of 1,697,435. Bunge Global has a 1 year low of $86.10 and a 1 year high of $116.59. The firm has a market capitalization of $14.89 billion, a price-to-earnings ratio of 8.40 and a beta of 0.65. The stock’s 50-day moving average is $100.80 and its 200-day moving average is $99.89. The company has a current ratio of 1.99, a quick ratio of 1.10 and a debt-to-equity ratio of 0.35.

Bunge Global (NYSE:BG) last issued its quarterly earnings data on Wednesday, April 24th. The basic materials company reported $3.04 EPS for the quarter, topping analysts’ consensus estimates of $2.55 by $0.49. Bunge Global had a net margin of 3.22% and a return on equity of 17.49%. The business had revenue of $13.42 billion during the quarter, compared to analysts’ expectations of $13.96 billion. During the same period last year, the company posted $3.26 EPS. The business’s revenue was down 12.5% on a year-over-year basis. As a group, research analysts expect that Bunge Global will post 9.03 EPS for the current year.

Analyst Ratings Changes

Several research analysts have commented on BG shares. The Goldman Sachs Group lowered their price target on shares of Bunge Global from $141.00 to $126.00 and set a “buy” rating for the company in a report on Tuesday, February 13th. HSBC upgraded Bunge Global from a “hold” rating to a “buy” rating and lowered their price target for the stock from $122.00 to $105.00 in a report on Friday, February 9th. Wolfe Research downgraded shares of Bunge Global from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 10th. Robert W. Baird cut their target price on shares of Bunge Global from $125.00 to $108.00 and set a “neutral” rating for the company in a research note on Tuesday, January 23rd. Finally, StockNews.com lowered Bunge Global from a “buy” rating to a “hold” rating in a research note on Monday, February 26th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, Bunge Global presently has an average 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.