Nutrien (NYSE:NTR) Price Target Cut to $76.00 by Analysts at Freedom Broker

Nutrien (NYSE:NTR) had its target price trimmed by Freedom Broker from $78.00 to $76.00 in a research report sent to investors on Wednesday morning,Benzinga reports. The brokerage currently has a hold rating on the stock.

Several other research firms have also issued reports on NTR. UBS Group lifted their price target on Nutrien from $59.00 to $62.00 and gave the stock a “sell” rating in a research report on Tuesday, October 27th. National Bank Financial cut their price objective on shares of Nutrien from $76.00 to $74.00 and set an “outperform” rating on the stock in a research report on Monday, August 10th. Mizuho reduced their price objective on shares of Nutrien from $77.00 to $75.00 and set a “neutral” rating for the company in a research note on Tuesday, July 14th. Oppenheimer decreased their target price on shares of Nutrien from $80.00 to $78.00 and set an “outperform” rating for the company in a report on Thursday, October 22nd. Finally, KeyCorp assumed coverage on shares of Nutrien in a research note on Thursday, September 10th. They issued a “sector weight” rating and a $73.00 target price on the stock. Sixteen analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $79.14.

Nutrien Trading Down 0.7%

NYSE:NTR opened at $71.65 on Wednesday. The firm has a market capitalization of $34.05 billion, a P/E ratio of 17.02, a PEG ratio of 0.80 and a beta of 0.67. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.41 and a quick ratio of 0.89. Nutrien has a one year low of $54.52 and a one year high of $85.36. The company’s 50-day simple moving average is $72.64 and its 200 day simple moving average is $71.15.

Nutrien (NYSE:NTR) last issued its quarterly earnings results on Wednesday, November 4th. The company reported $0.61 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.13). Nutrien had a return on equity of 8.00% and a net margin of 7.78%. The company had revenue of $5.69 billion during the quarter, compared to the consensus estimate of $5.66 billion. During the same period in the prior year, the firm earned $0.97 earnings per share. The business’s revenue for the quarter was up .9% compared to the same quarter last year. As a group, analysts forecast that Nutrien will post 4.53 EPS for the current fiscal year.

Nutrien Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 15th. Shareholders of record on Thursday, December 31st will be given a dividend of $0.55 per share. The ex-dividend date is Thursday, December 31st. This represents a $2.20 annualized dividend and a yield of 3.1%. Nutrien’s dividend payout ratio (DPR) is 48.03%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of NTR. Advisors Asset Management Inc. bought a new position in Nutrien during the 3rd quarter valued at about $8,115,000. Westpac Banking Corp boosted its position in shares of Nutrien by 33.1% during the third quarter. Westpac Banking Corp now owns 2,056 shares of the company’s stock valued at $144,000 after buying an additional 511 shares during the period. Private Advisor Group LLC boosted its position in shares of Nutrien by 93.4% during the third quarter. Private Advisor Group LLC now owns 9,656 shares of the company’s stock valued at $678,000 after buying an additional 4,663 shares during the period. Ieq Capital LLC boosted its position in shares of Nutrien by 20.1% during the third quarter. Ieq Capital LLC now owns 12,222 shares of the company’s stock valued at $859,000 after buying an additional 2,049 shares during the period. Finally, Public Sector Pension Investment Board grew its stake in shares of Nutrien by 178.0% during the third quarter. Public Sector Pension Investment Board now owns 1,482,172 shares of the company’s stock valued at $102,862,000 after buying an additional 949,008 shares during the last quarter. 63.10% of the stock is owned by hedge funds and other institutional investors.

About Nutrien

Nutrien Ltd. is a Canadian agricultural inputs and services company headquartered in Saskatoon, Saskatchewan. Formed in 2018 through the merger of Agrium and Potash Corporation of Saskatchewan, it serves farmers and other customers through fertilizer production and agricultural retail operations. The company produces potash, nitrogen and phosphate fertilizers, which are used to support crop growth. It also sells crop protection products and seeds, and provides growers with agronomic advice and other services.