HSBC Downgrades Nutrien (NYSE:NTR) to Reduce

Nutrien (NYSE:NTR) was downgraded by equities researchers at HSBC from a “hold” rating to a “reduce” rating in a research report issued on Friday, MarketBeat Ratings reports.

NTR has been the subject of a number of other research reports. Berenberg Bank raised shares of Nutrien from a “hold” rating to a “buy” rating and increased their target price for the company from $60.00 to $66.00 in a research report on Monday, April 29th. Mizuho raised shares of Nutrien from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 16th. Wells Fargo & Company cut their price target on shares of Nutrien from $68.00 to $66.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 16th. Scotiabank dropped their price objective on Nutrien from $67.00 to $66.00 and set an “outperform” rating on the stock in a research note on Monday, May 13th. Finally, TD Securities cut their target price on Nutrien from $69.00 to $67.00 and set a “buy” rating on the stock in a research report on Thursday. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $65.39.

Nutrien Stock Down 2.5 %

Shares of NYSE:NTR opened at $49.91 on Friday. Nutrien has a 52-week low of $47.86 and a 52-week high of $69.09. The company has a market capitalization of $24.69 billion, a PE ratio of 29.19, a price-to-earnings-growth ratio of 1.70 and a beta of 0.83. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.53 and a current ratio of 1.15. The company has a fifty day moving average of $52.33 and a 200-day moving average of $52.84.

Nutrien (NYSE:NTR) last announced its quarterly earnings results on Wednesday, May 8th. The company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.11. The firm had revenue of $5.39 billion during the quarter, compared to analysts’ expectations of $5.38 billion. Nutrien had a net margin of 3.01% and a return on equity of 7.31%. On average, equities analysts predict that Nutrien will post 3.78 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Lester Murray Antman dba SimplyRich lifted its stake in Nutrien by 2.3% during the second quarter. Lester Murray Antman dba SimplyRich now owns 9,069 shares of the company’s stock worth $461,000 after purchasing an additional 202 shares during the last quarter. Lindbrook Capital LLC boosted its stake in Nutrien by 21.4% in the first quarter. Lindbrook Capital LLC now owns 1,179 shares of the company’s stock worth $64,000 after buying an additional 208 shares in the last quarter. Moody National Bank Trust Division raised its stake in shares of Nutrien by 1.7% during the first quarter. Moody National Bank Trust Division now owns 12,582 shares of the company’s stock worth $683,000 after acquiring an additional 208 shares in the last quarter. FFT Wealth Management LLC lifted its holdings in shares of Nutrien by 0.8% in the 2nd quarter. FFT Wealth Management LLC now owns 29,220 shares of the company’s stock worth $1,488,000 after acquiring an additional 220 shares during the last quarter. Finally, Covestor Ltd boosted its stake in shares of Nutrien by 33.3% in the 1st quarter. Covestor Ltd now owns 932 shares of the company’s stock valued at $50,000 after purchasing an additional 233 shares in the last quarter. 63.10% of the stock is currently owned by hedge funds and other institutional investors.

About Nutrien

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.