Bunge Global SA (NYSE:BG) to Issue Dividend Increase – $0.70 Per Share

Bunge Global SA (NYSE:BG) declared a quarterly dividend on Monday, May 12th, Wall Street Journal reports. Stockholders of record on Monday, May 19th will be given a dividend of 0.70 per share by the basic materials company on Monday, June 2nd. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.49%. The ex-dividend date of this dividend is Monday, May 19th. This is a 2.9% increase from Bunge Global’s previous quarterly dividend of $0.68.

Bunge Global has a dividend payout ratio of 22.8% meaning its dividend is sufficiently covered by earnings. Analysts expect Bunge Global to earn $8.98 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 29.5%.

Bunge Global Trading Up 3.7%

BG stock traded up $2.85 during trading on Monday, hitting $80.20. The company had a trading volume of 2,458,871 shares, compared to its average volume of 1,599,095. The firm has a 50-day moving average price of $76.05 and a 200-day moving average price of $78.77. The stock has a market cap of $10.78 billion, a price-to-earnings ratio of 9.93, a PEG ratio of 2.66 and a beta of 0.68. Bunge Global has a 12 month low of $67.40 and a 12 month high of $114.92. The company has a quick ratio of 1.27, a current ratio of 2.15 and a debt-to-equity ratio of 0.43.

Bunge Global (NYSE:BG) last issued its earnings results on Wednesday, May 7th. The basic materials company reported $1.81 EPS for the quarter, beating the consensus estimate of $1.27 by $0.54. The company had revenue of $11.64 billion during the quarter, compared to analysts’ expectations of $13.18 billion. Bunge Global had a net margin of 2.14% and a return on equity of 11.73%. The business’s revenue for the quarter was down 13.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.04 EPS. As a group, analysts predict that Bunge Global will post 7.94 earnings per share for the current year.

Wall Street Analysts Forecast Growth

BG has been the subject of a number of recent analyst reports. Stephens lowered their price objective on shares of Bunge Global from $90.00 to $85.00 and set an “overweight” rating for the company in a research report on Thursday. Bank of America cut their target price on shares of Bunge Global from $105.00 to $87.00 and set a “buy” rating for the company in a research note on Tuesday, February 11th. Barclays lowered their price target on shares of Bunge Global from $95.00 to $85.00 and set an “equal weight” rating on the stock in a report on Thursday, February 6th. Citigroup increased their price target on shares of Bunge Global from $76.00 to $77.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 15th. Finally, Morgan Stanley cut their target price on shares of Bunge Global from $90.00 to $74.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 11th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $81.60.

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.