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

Bunge Global SA (NYSE:BG) declared a quarterly dividend on Monday, May 12th, Wall Street Journal reports. Investors 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 annualized dividend and a dividend yield of 3.45%. 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. Research 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 Price Performance

Shares of NYSE BG traded up $1.11 during midday trading on Tuesday, hitting $81.26. The stock had a trading volume of 109,140 shares, compared to its average volume of 1,593,369. The company has a market capitalization of $10.92 billion, a PE ratio of 10.08, a P/E/G ratio of 2.66 and a beta of 0.68. The stock has a 50 day simple moving average of $76.22 and a 200-day simple moving average of $78.71. Bunge Global has a 1 year low of $67.40 and a 1 year 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 announced its quarterly earnings data on Wednesday, May 7th. The basic materials company reported $1.81 EPS for the quarter, topping analysts’ consensus estimates of $1.27 by $0.54. The firm had revenue of $11.64 billion for the quarter, compared to the consensus estimate of $13.18 billion. Bunge Global had a return on equity of 11.73% and a net margin of 2.14%. The firm’s revenue was down 13.2% compared to the same quarter last year. During the same quarter last year, the business posted $3.04 earnings per share. On average, sell-side analysts expect that Bunge Global will post 7.94 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

BG has been the subject of a number of recent analyst reports. Barclays decreased their price target on Bunge Global from $95.00 to $85.00 and set an “equal weight” rating for the company in a report on Thursday, February 6th. Morgan Stanley reduced their price objective on Bunge Global from $90.00 to $74.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 11th. Citigroup upped their price objective on Bunge Global from $76.00 to $77.00 and gave the company a “neutral” rating in a research note on Tuesday, April 15th. Stephens dropped their target price on Bunge Global from $90.00 to $85.00 and set an “overweight” rating on the stock in a research report on Thursday, May 8th. Finally, Bank of America lowered their price target on Bunge Global from $105.00 to $87.00 and set a “buy” rating on the stock in a report on Tuesday, February 11th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price 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.