Brokerages Set Nutrien Ltd. (NYSE:NTR) Price Target at $62.94

Nutrien Ltd. (NYSE:NTR) has earned an average recommendation of “Hold” from the twenty-one research firms that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, five have given a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $62.9444.

A number of research firms have recently weighed in on NTR. Wall Street Zen downgraded shares of Nutrien from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 5th. Wells Fargo & Company began coverage on Nutrien in a research note on Tuesday, November 11th. They set an “equal weight” rating and a $64.00 price objective on the stock. National Bankshares assumed coverage on Nutrien in a report on Friday, September 5th. They issued a “sector perform” rating and a $64.00 price objective for the company. National Bank Financial assumed coverage on Nutrien in a report on Friday, September 5th. They set a “sector perform” rating on the stock. Finally, Jefferies Financial Group dropped their price target on Nutrien from $61.00 to $60.00 and set a “hold” rating for the company in a research note on Tuesday, September 9th.

Nutrien Trading Up 0.0%

Shares of Nutrien stock opened at $61.86 on Friday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.89 and a current ratio of 1.41. The firm has a 50-day moving average of $58.02 and a 200-day moving average of $58.55. Nutrien has a 52-week low of $43.69 and a 52-week high of $65.08. The stock has a market cap of $29.91 billion, a PE ratio of 16.67, a PEG ratio of 0.71 and a beta of 0.72.

Nutrien (NYSE:NTR) last released its quarterly earnings results on Wednesday, November 5th. The company reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.06. The business had revenue of $5.82 billion for the quarter, compared to analyst estimates of $5.59 billion. Nutrien had a net margin of 6.79% and a return on equity of 7.54%. Nutrien’s revenue for the quarter was up 12.3% compared to the same quarter last year. During the same period last year, the firm earned $0.39 earnings per share. As a group, sell-side analysts forecast that Nutrien will post 3.72 EPS for the current year.

Nutrien Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 16th. Stockholders of record on Wednesday, December 31st will be given a $0.545 dividend. The ex-dividend date is Wednesday, December 31st. This represents a $2.18 annualized dividend and a dividend yield of 3.5%. Nutrien’s payout ratio is presently 58.76%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in NTR. Intech Investment Management LLC boosted its stake in Nutrien by 284.0% in the first quarter. Intech Investment Management LLC now owns 69,128 shares of the company’s stock valued at $3,430,000 after buying an additional 51,126 shares in the last quarter. Belpointe Asset Management LLC bought a new position in shares of Nutrien in the first quarter worth about $311,000. Covea Finance lifted its holdings in shares of Nutrien by 16.5% in the second quarter. Covea Finance now owns 73,500 shares of the company’s stock worth $4,265,000 after acquiring an additional 10,400 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Nutrien by 1.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 736,996 shares of the company’s stock valued at $36,607,000 after purchasing an additional 7,194 shares in the last quarter. Finally, Advisors Asset Management Inc. grew its holdings in shares of Nutrien by 20.2% during the 2nd quarter. Advisors Asset Management Inc. now owns 69,551 shares of the company’s stock valued at $4,051,000 after purchasing an additional 11,704 shares during the last quarter. 63.10% of the stock is owned by 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.