Zacks Investment Research Lowers Nutrien (NYSE:NTR) to Sell

Zacks Investment Research downgraded shares of Nutrien (NYSE:NTR) from a hold rating to a sell rating in a research report released on Wednesday morning, Zacks.com reports.

According to Zacks, “Nutrien Ltd. produces and sells fertilizers and related industrial and feed products. The company’s products primarily include standard and granular potash; diammonium phosphate, monoammonium phosphate and phosphoric acid and ammonia, urea, nitric acid, ammonium nitrate and nitrogen solutions, as well as purified acids and phosphate feed products. Nutrien Ltd., formerly known as Potash Corporation of Saskatchewan Inc., is headquartered in Saskatoon, Canada. “

A number of other equities analysts have also weighed in on NTR. Bank of America upgraded Nutrien from an underperform rating to a neutral rating in a research note on Friday, August 16th. Scotiabank set a $60.00 price objective on Nutrien and gave the company a buy rating in a research note on Thursday, September 26th. Stifel Nicolaus reduced their price objective on Nutrien from $63.00 to $62.00 and set a buy rating for the company in a research note on Friday, October 4th. Citigroup set a $61.00 price objective on Nutrien and gave the company a buy rating in a research note on Wednesday, July 31st. Finally, UBS Group set a $62.00 price objective on Nutrien and gave the company a buy rating in a research note on Tuesday, August 27th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Nutrien currently has an average rating of Buy and an average target price of $62.13.

NYSE NTR opened at $50.89 on Wednesday. The stock has a 50-day simple moving average of $50.12 and a two-hundred day simple moving average of $51.50. The firm has a market capitalization of $28.23 billion, a P/E ratio of 17.66, a PEG ratio of 2.59 and a beta of 0.91. Nutrien has a fifty-two week low of $43.96 and a fifty-two week high of $57.97.

Nutrien (NYSE:NTR) last released its quarterly earnings data on Monday, July 29th. The company reported $1.58 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.59 by ($0.01). The business had revenue of $8.66 billion during the quarter, compared to analyst estimates of $8.17 billion. The business’s revenue was up 6.8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.48 EPS. Sell-side analysts expect that Nutrien will post 2.38 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 17th. Investors of record on Monday, September 30th will be paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 3.54%. The ex-dividend date of this dividend is Friday, September 27th. This is a positive change from Nutrien’s previous quarterly dividend of $0.43. Nutrien’s payout ratio is currently 66.91%.

Several institutional investors have recently made changes to their positions in NTR. Rockefeller Capital Management L.P. purchased a new position in shares of Nutrien in the 1st quarter valued at about $105,000. Lazard Asset Management LLC boosted its holdings in Nutrien by 4.2% in the 1st quarter. Lazard Asset Management LLC now owns 506,943 shares of the company’s stock worth $26,746,000 after buying an additional 20,625 shares during the last quarter. Clal Insurance Enterprises Holdings Ltd boosted its holdings in Nutrien by 69.3% in the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 846,383 shares of the company’s stock worth $44,928,000 after buying an additional 346,383 shares during the last quarter. Marshall Wace North America L.P. boosted its holdings in Nutrien by 87.7% in the 1st quarter. Marshall Wace North America L.P. now owns 152,401 shares of the company’s stock worth $8,041,000 after buying an additional 71,188 shares during the last quarter. Finally, Clearbridge Investments LLC boosted its holdings in Nutrien by 0.3% in the 1st quarter. Clearbridge Investments LLC now owns 624,283 shares of the company’s stock worth $32,937,000 after buying an additional 1,832 shares during the last quarter. Hedge funds and other institutional investors own 65.50% of the company’s stock.

About Nutrien

Nutrien Ltd. produces and markets crop nutrients to agricultural, industrial, and feed customers worldwide. It operates in four segments: Retail, Potash, Nitrogen, and Phosphate and Sulfate. The company offers potash, nitrogen, phosphate, and sulfate products. It also distributes crop nutrients, crop protection products, seeds, and merchandise products through operating 1,700 retail locations.

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