Nutrien Ltd. (NYSE:NTR) Receives $60.67 Average Price Target from Brokerages

Nutrien Ltd. (NYSE:NTR) has been assigned an average recommendation of “Hold” from the nineteen research firms that are presently covering the stock, Marketbeat.com reports. Three investment analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and ten have given a buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $60.67.

Several analysts recently weighed in on NTR shares. TD Securities cut their price target on shares of Nutrien from $69.00 to $67.00 and set a “buy” rating on the stock in a report on Thursday, August 1st. Scotiabank cut their target price on shares of Nutrien from $66.00 to $59.00 and set a “sector outperform” rating on the stock in a research note on Monday, August 12th. Mizuho decreased their price target on shares of Nutrien from $55.00 to $52.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Barclays lowered their price objective on shares of Nutrien from $68.00 to $55.00 and set an “overweight” rating for the company in a report on Friday, August 16th. Finally, The Goldman Sachs Group downgraded Nutrien from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $69.00 to $53.00 in a report on Tuesday, September 10th.

Nutrien Stock Performance

Nutrien stock opened at $47.31 on Tuesday. The company has a current ratio of 1.26, a quick ratio of 0.82 and a debt-to-equity ratio of 0.37. The firm has a market cap of $23.40 billion, a P/E ratio of 27.67, a P/E/G ratio of 1.62 and a beta of 0.82. Nutrien has a 1-year low of $44.65 and a 1-year high of $60.87. The firm has a 50-day moving average of $47.67 and a 200-day moving average of $51.08.

Nutrien (NYSE:NTR) last released its quarterly earnings data on Wednesday, August 7th. The company reported $2.34 earnings per share for the quarter, topping the consensus estimate of $2.19 by $0.15. The business had revenue of $10.16 billion during the quarter, compared to analysts’ expectations of $10.82 billion. Nutrien had a return on equity of 6.91% and a net margin of 2.97%. The business’s revenue was down 12.9% on a year-over-year basis. During the same quarter last year, the business posted $2.53 EPS. Sell-side analysts expect that Nutrien will post 3.75 EPS for the current year.

Nutrien Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Friday, September 27th were paid a $0.54 dividend. The ex-dividend date of this dividend was Friday, September 27th. This represents a $2.16 annualized dividend and a dividend yield of 4.57%. Nutrien’s dividend payout ratio is presently 126.32%.

Institutional Investors Weigh In On Nutrien

Institutional investors and hedge funds have recently made changes to their positions in the company. Central Pacific Bank Trust Division purchased a new stake in Nutrien during the 3rd quarter valued at $28,000. Family Firm Inc. purchased a new stake in shares of Nutrien during the second quarter valued at $32,000. GoalVest Advisory LLC purchased a new stake in shares of Nutrien during the first quarter valued at $35,000. Trust Co. of Vermont increased its holdings in Nutrien by 50.0% in the 2nd quarter. Trust Co. of Vermont now owns 900 shares of the company’s stock worth $46,000 after buying an additional 300 shares in the last quarter. Finally, Covestor Ltd raised its position in Nutrien by 33.3% in the 1st quarter. Covestor Ltd now owns 932 shares of the company’s stock worth $50,000 after buying an additional 233 shares during the last quarter. Institutional investors own 63.10% of the company’s stock.

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.