Bunge Global SA (BG) to Issue Quarterly Dividend of $0.68 on September 2nd

Bunge Global SA (NYSE:BG) announced a quarterly dividend on Monday, May 6th, Wall Street Journal reports. Investors 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 2.61%. 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 payout ratio of 22.8% indicating that 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 Trading Up 2.0 %

Bunge Global stock opened at $104.35 on Wednesday. The firm has a 50 day moving average of $100.80 and a 200 day moving average of $99.89. The firm has a market capitalization of $14.77 billion, a price-to-earnings ratio of 8.40 and a beta of 0.65. Bunge Global has a 12-month low of $86.10 and a 12-month high of $116.59. 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 released its 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. The company had revenue of $13.42 billion during the quarter, compared to analyst estimates of $13.96 billion. Bunge Global had a net margin of 3.22% and a return on equity of 17.49%. The firm’s quarterly revenue was down 12.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.26 EPS. As a group, research analysts predict that Bunge Global will post 9.03 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Citigroup upped their price target on Bunge Global from $117.00 to $122.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. Robert W. Baird lowered their target price on Bunge Global from $125.00 to $108.00 and set a “neutral” rating for the company in a research report on Tuesday, January 23rd. The Goldman Sachs Group decreased their price target on Bunge Global from $141.00 to $126.00 and set a “buy” rating on the stock in a report on Tuesday, February 13th. StockNews.com lowered Bunge Global from a “buy” rating to a “hold” rating in a report on Monday, February 26th. Finally, BMO Capital Markets decreased their price target on Bunge Global from $130.00 to $120.00 and set an “outperform” rating on the stock in a report on Thursday, February 8th. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus 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.