Nutrien (NYSE:NTR) Receives Outperform Rating from Royal Bank of Canada

Royal Bank of Canada reaffirmed their outperform rating on shares of Nutrien (NYSE:NTR) in a research report sent to investors on Friday, Benzinga reports. Royal Bank of Canada currently has a $60.00 target price on the stock.

A number of other equities analysts have also issued reports on NTR. TD Securities decreased their price objective on Nutrien from $69.00 to $67.00 and set a buy rating for the company in a report on Thursday, August 1st. BMO Capital Markets lowered their price target on Nutrien from $80.00 to $75.00 and set an outperform rating on the stock in a report on Friday, August 9th. Barclays cut their price objective on shares of Nutrien from $68.00 to $55.00 and set an overweight rating on the stock in a research note on Friday, August 16th. Scotiabank decreased their target price on shares of Nutrien from $66.00 to $59.00 and set a sector outperform rating for the company in a research report on Monday, August 12th. Finally, The Goldman Sachs Group downgraded shares of Nutrien from a buy rating to a neutral rating and dropped their price target for the stock from $69.00 to $53.00 in a research report on Tuesday, September 10th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of Hold and a consensus target price of $62.39.

Nutrien Stock Performance

Shares of NTR opened at $47.48 on Friday. The firm has a fifty day moving average of $47.95 and a 200-day moving average of $51.81. The company has a market cap of $23.49 billion, a price-to-earnings ratio of 27.77, a price-to-earnings-growth ratio of 1.53 and a beta of 0.82. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.82 and a current ratio of 1.26. Nutrien has a 1 year low of $44.65 and a 1 year high of $63.60.

Nutrien (NYSE:NTR) last posted its earnings results on Wednesday, August 7th. The company reported $2.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.19 by $0.15. Nutrien had a net margin of 2.97% and a return on equity of 6.91%. The firm had revenue of $10.16 billion during the quarter, compared to analyst estimates of $10.82 billion. During the same period in the previous year, the business posted $2.53 EPS. Nutrien’s revenue was down 12.9% on a year-over-year basis. As a group, equities analysts anticipate that Nutrien will post 3.81 earnings per share for the current year.

Nutrien Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 18th. Investors of record on Friday, September 27th will be issued a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 4.55%. The ex-dividend date of this dividend is Friday, September 27th. Nutrien’s payout ratio is 126.32%.

Institutional Investors Weigh In On Nutrien

Hedge funds have recently modified their holdings of the stock. Panagora Asset Management Inc. purchased a new stake in Nutrien during the fourth quarter valued at about $268,000. PNC Financial Services Group Inc. lifted its position in shares of Nutrien by 3.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 14,332 shares of the company’s stock valued at $807,000 after acquiring an additional 432 shares in the last quarter. Clearbridge Investments LLC acquired a new position in Nutrien in the 4th quarter worth approximately $32,448,000. Corient Private Wealth LLC grew its position in Nutrien by 8.7% during the 4th quarter. Corient Private Wealth LLC now owns 27,810 shares of the company’s stock worth $1,567,000 after purchasing an additional 2,229 shares in the last quarter. Finally, Trexquant Investment LP acquired a new stake in Nutrien during the 4th quarter valued at $3,405,000. 63.10% of the stock is owned by hedge funds and other institutional investors.

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.