Nutrien (NYSE:NTR) Given New $63.00 Price Target at TD Securities

Nutrien (NYSE:NTR) had its price target lowered by TD Securities from $64.00 to $63.00 in a research note issued to investors on Tuesday,BayStreet.CA reports. The brokerage currently has a buy rating on the stock.

A number of other research firms have also recently commented on NTR. UBS Group cut Nutrien from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $66.00 to $51.00 in a report on Thursday, October 10th. Royal Bank of Canada restated an “outperform” rating and issued a $60.00 price target on shares of Nutrien in a research note on Friday, September 20th. HSBC cut shares of Nutrien from a “hold” rating to a “reduce” rating in a research report on Friday, August 2nd. Mizuho decreased their target price on shares of Nutrien from $55.00 to $52.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. Finally, Scotiabank dropped their price target on Nutrien from $66.00 to $59.00 and set a “sector outperform” rating for the company in a research note on Monday, August 12th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $60.44.

Nutrien Price Performance

NTR traded down $0.31 on Tuesday, hitting $48.63. 323,276 shares of the stock were exchanged, compared to its average volume of 1,942,496. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.26 and a quick ratio of 0.82. Nutrien has a 12 month low of $44.65 and a 12 month high of $60.87. The firm has a market capitalization of $24.02 billion, a price-to-earnings ratio of 30.59, a PEG ratio of 1.66 and a beta of 0.82. The business has a 50-day moving average of $47.97 and a two-hundred day moving average of $50.65.

Nutrien (NYSE:NTR) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.04). The firm had revenue of $5.35 billion for the quarter, compared to the consensus estimate of $5.26 billion. Nutrien had a return on equity of 6.91% and a net margin of 2.97%. The business’s revenue was down 5.0% on a year-over-year basis. During the same period last year, the company posted $0.35 EPS. Sell-side analysts forecast that Nutrien will post 3.82 EPS for the current fiscal year.

Nutrien Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.939 per share. This is an increase from Nutrien’s previous quarterly dividend of $0.54. This represents a $3.76 dividend on an annualized basis and a yield of 7.72%. The ex-dividend date of this dividend is Tuesday, December 31st. Nutrien’s dividend payout ratio (DPR) is presently 135.00%.

Institutional Investors Weigh In On Nutrien

Several institutional investors and hedge funds have recently made changes to their positions in NTR. Vanguard Group Inc. lifted its stake in Nutrien by 3.1% in the first quarter. Vanguard Group Inc. now owns 18,781,287 shares of the company’s stock valued at $1,020,012,000 after buying an additional 570,912 shares during the period. Bank of Montreal Can boosted its stake in Nutrien by 15.5% during the second quarter. Bank of Montreal Can now owns 13,354,385 shares of the company’s stock worth $719,668,000 after acquiring an additional 1,794,333 shares in the last quarter. Silchester International Investors LLP boosted its stake in Nutrien by 164.4% during the third quarter. Silchester International Investors LLP now owns 10,683,242 shares of the company’s stock worth $513,437,000 after acquiring an additional 6,642,075 shares in the last quarter. First Eagle Investment Management LLC increased its stake in Nutrien by 0.5% in the first quarter. First Eagle Investment Management LLC now owns 9,571,272 shares of the company’s stock valued at $519,816,000 after purchasing an additional 50,369 shares in the last quarter. Finally, 1832 Asset Management L.P. raised its holdings in shares of Nutrien by 1.9% during the second quarter. 1832 Asset Management L.P. now owns 9,006,528 shares of the company’s stock valued at $458,522,000 after purchasing an additional 167,312 shares during the period. Institutional investors 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.