Bunge Global SA (NYSE:BG) to Issue $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 paid 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 yield of 3.86%. The ex-dividend date of this dividend 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 $9.37 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 28.3%.

Bunge Global Stock Up 1.1 %

Shares of NYSE:BG opened at $70.54 on Friday. The business’s 50 day simple moving average is $77.63 and its two-hundred day simple moving average is $88.18. The firm has a market cap of $9.85 billion, a P/E ratio of 8.73 and a beta of 0.69. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.10 and a current ratio of 2.15. Bunge Global has a 52-week low of $67.40 and a 52-week high of $114.92.

Bunge Global (NYSE:BG) last posted its earnings results on Wednesday, February 5th. The basic materials company reported $2.13 earnings per share for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.17). Bunge Global had a net margin of 2.14% and a return on equity of 11.73%. As a group, research analysts forecast that Bunge Global will post 7.75 EPS for the current fiscal year.

Analysts Set New Price Targets

BG has been the topic of a number of recent research reports. Barclays dropped their target price on Bunge Global from $95.00 to $85.00 and set an “equal weight” rating on the stock in a report on Thursday, February 6th. Morgan Stanley dropped their target price on Bunge Global from $90.00 to $74.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 11th. Bank of America dropped their target price on Bunge Global from $105.00 to $87.00 and set a “buy” rating on the stock in a report on Tuesday, February 11th. Finally, Stephens dropped their target price on Bunge Global from $110.00 to $105.00 in a report on Monday, February 3rd. Four research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Bunge Global has an average rating of “Moderate Buy” and an average price target of $93.00.

Bunge Global Company Profile

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.