Bunge Ltd (NYSE:BG) declared a quarterly dividend on Tuesday, May 26th, Wall Street Journal reports. Investors of record on Monday, August 17th will be paid a dividend of 0.50 per share by the basic materials company on Tuesday, September 1st. This represents a $2.00 annualized dividend and a dividend yield of 5.30%. The ex-dividend date is Friday, August 14th.
Bunge has increased its dividend by an average of 4.4% annually over the last three years and has raised its dividend every year for the last 18 years. Bunge has a dividend payout ratio of 68.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect Bunge to earn $3.93 per share next year, which means the company should continue to be able to cover its $2.00 annual dividend with an expected future payout ratio of 50.9%.
Shares of Bunge stock traded up $2.34 during trading on Tuesday, hitting $37.72. The company's stock had a trading volume of 2,626,631 shares, compared to its average volume of 1,451,988. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.70 and a current ratio of 1.38. The company has a fifty day simple moving average of $37.60 and a two-hundred day simple moving average of $47.95. The company has a market capitalization of $5.30 billion, a PE ratio of -3.43 and a beta of 0.82. Bunge has a 52 week low of $29.00 and a 52 week high of $59.65.
Bunge (NYSE:BG) last announced its quarterly earnings data on Wednesday, May 6th. The basic materials company reported ($1.34) EPS for the quarter, missing the Thomson Reuters' consensus estimate of $0.67 by ($2.01). Bunge had a negative net margin of 3.76% and a positive return on equity of 9.09%. The firm had revenue of $9.17 billion for the quarter, compared to analysts' expectations of $10.03 billion. During the same period last year, the company posted $0.36 earnings per share. The business's revenue for the quarter was down 7.7% compared to the same quarter last year. As a group, analysts predict that Bunge will post 2.83 EPS for the current year.
Several brokerages recently commented on BG. Goldman Sachs Group raised shares of Bunge from a "buy" rating to a "conviction-buy" rating and set a $69.00 price objective on the stock in a research report on Tuesday, March 17th. TheStreet downgraded shares of Bunge from a "c-" rating to a "d+" rating in a report on Wednesday, March 25th. Morgan Stanley dropped their price target on shares of Bunge from $65.00 to $50.00 and set an "equal weight" rating on the stock in a report on Monday, March 30th. Robert W. Baird raised shares of Bunge from a "neutral" rating to an "outperform" rating and set a $46.00 price target on the stock in a report on Wednesday, May 13th. Finally, Zacks Investment Research downgraded shares of Bunge from a "buy" rating to a "hold" rating in a report on Monday, May 4th. Three research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of "Buy" and a consensus target price of $60.60.
In other Bunge news, insider Christos Dimopoulos acquired 2,000 shares of the company's stock in a transaction that occurred on Friday, February 28th. The shares were bought at an average price of $48.74 per share, with a total value of $97,480.00. Following the completion of the acquisition, the insider now owns 16,482 shares in the company, valued at approximately $803,332.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO John W. Neppl acquired 2,500 shares of the company's stock in a transaction that occurred on Friday, February 28th. The stock was acquired at an average cost of $46.63 per share, for a total transaction of $116,575.00. Following the acquisition, the chief financial officer now owns 26,762 shares of the company's stock, valued at approximately $1,247,912.06. The disclosure for this purchase can be found here. In the last three months, insiders purchased 31,053 shares of company stock worth $1,323,863. 3.67% of the stock is currently owned by insiders.
Bunge Company Profile
Bunge Limited operates as an agribusiness and food company worldwide. It operates in five segments: Agribusiness, Edible Oil Products, Milling Products, Sugar and Bioenergy, and Fertilizer. 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 primarily wheat and corn; and vegetable oils and protein meals.
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