Brokers Issue Forecasts for Nutrien Ltd.’s Q2 2024 Earnings (NYSE:NTR)

Nutrien Ltd. (NYSE:NTR) – Stock analysts at Zacks Research lowered their Q2 2024 earnings per share (EPS) estimates for Nutrien in a report issued on Tuesday, May 21st. Zacks Research analyst S. Rathi now forecasts that the company will post earnings of $1.93 per share for the quarter, down from their prior estimate of $2.10. The consensus estimate for Nutrien’s current full-year earnings is $3.90 per share.

A number of other equities analysts have also issued reports on the stock. Berenberg Bank upgraded 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 their price objective on shares of Nutrien from $54.00 to $56.00 and gave the company an “underweight” rating in a research note on Friday, May 17th. HSBC cut their target price on Nutrien from $63.00 to $57.00 and set a “hold” rating for the company in a research report on Friday, March 8th. BMO Capital Markets dropped their price objective on Nutrien from $86.00 to $80.00 and set an “outperform” rating on the stock in a research note on Thursday, January 25th. Finally, The Goldman Sachs Group cut their price objective on Nutrien from $88.00 to $78.00 and set a “buy” rating for the company in a report on Thursday, February 1st. Three analysts have rated the stock with a sell rating, four have issued a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, Nutrien has a consensus rating of “Hold” and a consensus target price of $67.32.

Nutrien Price Performance

Shares of NTR opened at $59.21 on Wednesday. Nutrien has a one year low of $47.90 and a one year high of $69.12. The stock’s fifty day moving average is $54.72 and its 200-day moving average is $53.86. 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 firm has a market capitalization of $29.28 billion, a price-to-earnings ratio of 34.63, a price-to-earnings-growth ratio of 1.91 and a beta of 0.88.

Nutrien (NYSE:NTR) last announced its earnings results on Wednesday, February 21st. The company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.72 by ($0.35). Nutrien had a net margin of 3.01% and a return on equity of 7.31%. The business had revenue of $5.66 billion for the quarter, compared to the consensus estimate of $5.36 billion. During the same period in the previous year, the firm earned $2.02 EPS. The firm’s revenue was down 24.8% on a year-over-year basis.

Nutrien Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 19th. Stockholders of record on Friday, June 28th will be issued a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a dividend yield of 3.65%. The ex-dividend date is Friday, June 28th. Nutrien’s dividend payout ratio is currently 126.32%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of NTR. GoalVest Advisory LLC acquired a new position in shares of Nutrien during the first quarter worth approximately $35,000. Exchange Traded Concepts LLC lifted its holdings in shares of Nutrien by 904.0% during the fourth quarter. Exchange Traded Concepts LLC now owns 753 shares of the company’s stock valued at $42,000 after acquiring an additional 678 shares during the period. Evolution Advisers Inc. bought a new stake in Nutrien during the fourth quarter worth about $49,000. Covestor Ltd grew its position in Nutrien by 33.3% during the 1st quarter. Covestor Ltd now owns 932 shares of the company’s stock worth $50,000 after acquiring an additional 233 shares during the last quarter. Finally, CVA Family Office LLC bought a new stake in shares of Nutrien during the fourth quarter worth $57,000. Institutional investors and hedge funds own 63.10% of the company’s stock.

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.