Bunge Limited (BG) Plans $0.46 Quarterly Dividend
Bunge Limited (NYSE:BG) declared a quarterly dividend on Tuesday, August 8th, RTT News reports. Investors of record on Monday, November 20th will be paid a dividend of 0.46 per share by the basic materials company on Monday, December 4th. This represents a $1.84 dividend on an annualized basis and a yield of 2.39%.
Bunge Limited has raised its dividend payment by an average of 12.0% per year over the last three years and has increased its dividend annually for the last 15 consecutive years. Bunge Limited has a payout ratio of 43.6% meaning its dividend is sufficiently covered by earnings. Research analysts expect Bunge Limited to earn $5.54 per share next year, which means the company should continue to be able to cover its $1.84 annual dividend with an expected future payout ratio of 33.2%.
Shares of Bunge Limited (NYSE BG) traded down 0.36% during trading on Tuesday, reaching $76.98. The company had a trading volume of 1,118,662 shares. The company’s 50 day moving average is $77.15 and its 200-day moving average is $76.24. Bunge Limited has a 1-year low of $58.19 and a 1-year high of $83.75. The stock has a market capitalization of $10.85 billion, a price-to-earnings ratio of 21.94 and a beta of 1.02.
Bunge Limited (NYSE:BG) last posted its earnings results on Wednesday, August 2nd. The basic materials company reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.07. The company had revenue of $11.65 billion during the quarter, compared to the consensus estimate of $10.88 billion. Bunge Limited had a net margin of 1.12% and a return on equity of 6.65%. The firm’s quarterly revenue was up 10.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.79 earnings per share. On average, equities research analysts anticipate that Bunge Limited will post $4.14 earnings per share for the current year.
In other Bunge Limited news, insider Jerry Matthews Simmons, Jr. sold 2,636 shares of the company’s stock in a transaction dated Monday, July 24th. The shares were sold at an average price of $80.00, for a total value of $210,880.00. Following the completion of the transaction, the insider now owns 20,214 shares in the company, valued at $1,617,120. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 1.30% of the company’s stock.
BG has been the subject of a number of research reports. BMO Capital Markets restated a “buy” rating on shares of Bunge Limited in a research report on Monday, May 15th. Credit Suisse Group set a $80.00 target price on shares of Bunge Limited and gave the company a “buy” rating in a research report on Thursday, May 4th. Citigroup Inc. decreased their target price on shares of Bunge Limited from $94.00 to $88.00 and set a “buy” rating for the company in a research report on Wednesday, July 12th. Piper Jaffray Companies set a $79.00 target price on shares of Bunge Limited and gave the company a “buy” rating in a research report on Friday, July 14th. Finally, Stephens downgraded shares of Bunge Limited from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, May 3rd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $84.83.
About Bunge Limited
Bunge Limited is an agribusiness and food company with integrated operations that stretch from the farm field to consumer foods. The Company operates through five segments: Agribusiness, Edible Oil Products, Milling Products, Sugar and Bioenergy, and Fertilizer. Its Agribusiness segment is an integrated, global business involved in the purchase, storage, transport, processing and sale of agricultural commodities and commodity products.
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