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

Bunge Global SA (NYSE:BG) declared a quarterly dividend on Wednesday, May 8th, Wall Street Journal reports. Shareholders of record on Tuesday, February 18th will be given 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 2.58%. The ex-dividend date is Tuesday, February 18th.

Bunge Global has a payout ratio of 22.8% indicating that its dividend is sufficiently covered by earnings. Equities 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 Trading Up 1.0 %

NYSE BG opened at $105.35 on Thursday. The company has a market cap of $14.92 billion, a PE ratio of 8.48 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 stock has a 50 day moving average of $101.03 and a 200-day moving average of $99.93. 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 earnings results on Wednesday, April 24th. The basic materials company reported $3.04 earnings per share (EPS) for the quarter, beating 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 company had revenue of $13.42 billion for the quarter, compared to analysts’ expectations of $13.96 billion. During the same period in the prior year, the firm earned $3.26 EPS. Bunge Global’s quarterly revenue was down 12.5% compared to the same quarter last year. On average, equities research analysts anticipate that Bunge Global will post 9.03 EPS for the current fiscal year.

Analyst Ratings Changes

BG has been the topic of a number of research analyst reports. Wolfe Research cut Bunge Global from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 10th. Citigroup lifted their target price on shares of Bunge Global from $117.00 to $122.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. Roth Mkm cut their price objective on shares of Bunge Global from $161.00 to $138.00 and set a “buy” rating for the company in a research report on Monday, February 5th. Robert W. Baird decreased their target price on Bunge Global from $125.00 to $108.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 23rd. Finally, The Goldman Sachs Group dropped their price target on Bunge Global from $141.00 to $126.00 and set a “buy” rating for the company in a report on Tuesday, February 13th. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average 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.