Bunge Global SA (NYSE:BG) Raises Dividend to $0.68 Per Share

Bunge Global SA (NYSE:BG) declared a quarterly dividend on Monday, May 6th, Wall Street Journal reports. Investors of record on Monday, August 19th will be paid 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 2.61%. The ex-dividend date of this dividend is Monday, August 19th. This is an increase from Bunge Global’s previous quarterly dividend of $0.66.

Bunge Global has a payout ratio of 22.8% meaning its dividend is sufficiently covered by earnings. 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 Performance

Shares of BG opened at $104.35 on Wednesday. Bunge Global has a 12 month low of $86.10 and a 12 month high of $116.59. The firm has a fifty day simple moving average of $100.80 and a 200 day simple moving average of $99.89. The stock has a market capitalization of $14.77 billion, a price-to-earnings ratio of 8.40 and a beta of 0.65. 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 posted its quarterly earnings results on Wednesday, April 24th. The basic materials company reported $3.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.55 by $0.49. Bunge Global had a net margin of 3.22% and a return on equity of 17.49%. The firm had revenue of $13.42 billion for the quarter, compared to analyst estimates of $13.96 billion. During the same period in the prior year, the firm posted $3.26 earnings per share. The company’s quarterly revenue was down 12.5% compared to the same quarter last year. Research analysts forecast that Bunge Global will post 9.03 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have issued reports on BG. HSBC raised shares of Bunge Global from a “hold” rating to a “buy” rating and dropped their price target for the stock from $122.00 to $105.00 in a research report on Friday, February 9th. StockNews.com lowered shares of Bunge Global from a “buy” rating to a “hold” rating in a research report on Monday, February 26th. BMO Capital Markets dropped their price objective on shares of Bunge Global from $130.00 to $120.00 and set an “outperform” rating on the stock in a research report on Thursday, February 8th. Citigroup increased their price objective on shares of Bunge Global from $117.00 to $122.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. Finally, Roth Mkm dropped their price objective on shares of Bunge Global from $161.00 to $138.00 and set a “buy” rating on the stock in a research report on Monday, February 5th. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price 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.