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

Bunge Global SA (NYSE:BG) declared a quarterly dividend on Tuesday, May 7th, Wall Street Journal reports. Stockholders 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 annualized dividend and a dividend yield of 2.59%. The ex-dividend date of this dividend is Tuesday, February 18th.

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

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

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

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. BMO Capital Markets decreased their price objective on shares of Bunge Global from $130.00 to $120.00 and set an “outperform” rating for the company in a report on Thursday, February 8th. 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 report on Tuesday, January 23rd. StockNews.com cut Bunge Global from a “buy” rating to a “hold” rating in a report on Monday, February 26th. Citigroup upped their price objective on shares of Bunge Global from $117.00 to $122.00 and gave the company a “buy” rating in a report on Thursday, April 25th. Finally, HSBC upgraded Bunge Global from a “hold” rating to a “buy” rating and cut their price objective for the company from $122.00 to $105.00 in a report on Friday, February 9th. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company 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.