Nutrien Ltd. (NYSE:NTR) Receives $67.32 Average PT from Brokerages

Shares of Nutrien Ltd. (NYSE:NTR) have been given a consensus recommendation of “Hold” by the nineteen research firms that are currently covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and twelve have given a buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $67.32.

Several equities analysts have recently issued reports on NTR shares. TD Securities reduced their price objective on Nutrien from $75.00 to $67.00 and set a “buy” rating for the company in a research report on Tuesday, February 20th. Scotiabank decreased their price target on Nutrien from $67.00 to $66.00 and set an “outperform” rating for the company in a research note on Monday, May 13th. Mizuho upped their price objective on shares of Nutrien from $54.00 to $56.00 and gave the stock an “underweight” rating in a report on Friday, May 17th. Wolfe Research started coverage on shares of Nutrien in a research report on Friday, March 1st. They issued an “outperform” rating and a $66.00 target price for the company. Finally, Royal Bank of Canada dropped their price target on shares of Nutrien from $75.00 to $70.00 and set an “outperform” rating on the stock in a research report on Friday, February 23rd.

Institutional Investors Weigh In On Nutrien

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Norges Bank bought a new stake in Nutrien during the fourth quarter worth about $332,716,000. The Manufacturers Life Insurance Company raised its stake in shares of Nutrien by 51.3% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 6,853,165 shares of the company’s stock worth $425,881,000 after purchasing an additional 2,322,679 shares in the last quarter. ARGA Investment Management LP boosted its holdings in shares of Nutrien by 120.2% in the 1st quarter. ARGA Investment Management LP now owns 3,780,881 shares of the company’s stock valued at $205,421,000 after buying an additional 2,063,881 shares during the last quarter. TD Asset Management Inc grew its stake in shares of Nutrien by 28.6% in the fourth quarter. TD Asset Management Inc now owns 9,226,352 shares of the company’s stock valued at $522,309,000 after buying an additional 2,050,358 shares in the last quarter. Finally, Parnassus Investments LLC increased its holdings in Nutrien by 19.5% during the fourth quarter. Parnassus Investments LLC now owns 12,017,181 shares of the company’s stock worth $676,928,000 after buying an additional 1,960,162 shares during the last quarter. Institutional investors own 63.10% of the company’s stock.

Nutrien Stock Performance

NTR stock opened at $60.33 on Friday. The firm has a market cap of $29.84 billion, a P/E ratio of 35.28, a P/E/G ratio of 1.92 and a beta of 0.88. The stock’s 50 day simple moving average is $54.60 and its 200 day simple moving average is $53.82. The company has a current ratio of 1.15, a quick ratio of 0.53 and a debt-to-equity ratio of 0.36. Nutrien has a 12-month low of $47.90 and a 12-month high of $69.12.

Nutrien (NYSE:NTR) last issued its earnings results on Wednesday, February 21st. The company reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.35). The company had revenue of $5.66 billion during the quarter, compared to analyst estimates of $5.36 billion. Nutrien had a net margin of 3.01% and a return on equity of 7.31%. The business’s revenue was down 24.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.02 earnings per share. As a group, equities research analysts predict that Nutrien will post 3.9 EPS for the current year.

Nutrien Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 19th. Investors of record on Friday, June 28th will be given a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 3.58%. The ex-dividend date of this dividend is Friday, June 28th. Nutrien’s dividend payout ratio (DPR) is presently 126.32%.

Nutrien Company Profile

Nutrien Ltd. provides crop inputs and services. The company operates through four segments: Retail, Potash, Nitrogen, and Phosphate. The Retail segment distributes crop nutrients, crop protection products, seeds, and merchandise products. The Potash segment provides granular and standard potash products.