Bunge Global SA (NYSE:BG) Announces Dividend Increase – $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 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 2.66%. The ex-dividend date of this dividend is Monday, August 19th. This is a boost 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 Price Performance

Bunge Global stock opened at $102.27 on Tuesday. The stock has a market cap of $14.48 billion, a price-to-earnings ratio of 8.23 and a beta of 0.65. The firm has a 50-day moving average of $100.57 and a two-hundred day moving average of $99.87. Bunge Global has a 1 year low of $86.10 and a 1 year high of $116.59. 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 announced its quarterly 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. The firm had revenue of $13.42 billion during the quarter, compared to analyst estimates of $13.96 billion. Bunge Global had a return on equity of 17.49% and a net margin of 3.22%. Bunge Global’s quarterly revenue was down 12.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.26 earnings per share. On average, research analysts forecast that Bunge Global will post 9.03 earnings per share for the current year.

Wall Street Analysts Forecast Growth

BG has been the topic of several research reports. Barclays cut their price target on Bunge Global from $125.00 to $115.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 23rd. Citigroup raised their target price 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. 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 research report on Tuesday, February 13th. StockNews.com lowered shares of Bunge Global from a “buy” rating to a “hold” rating in a report on Monday, February 26th. Finally, 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 report on Tuesday, January 23rd. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus 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.