Brokerages Set Nutrien Ltd. (NYSE:NTR) Price Target at $58.95

Shares of Nutrien Ltd. (NYSE:NTR) have received an average recommendation of “Hold” from the eighteen ratings firms that are currently covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and eleven have issued a buy rating on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $58.95.

Several research analysts have issued reports on NTR shares. TD Securities cut their price objective on Nutrien from $63.00 to $61.00 and set a “buy” rating for the company in a research report on Tuesday, November 12th. UBS Group downgraded shares of Nutrien from a “buy” rating to a “neutral” rating and cut their price target for the company from $66.00 to $51.00 in a report on Thursday, October 10th. Oppenheimer started coverage on shares of Nutrien in a report on Thursday, December 12th. They set an “outperform” rating and a $60.00 price objective on the stock. Royal Bank of Canada restated an “outperform” rating and set a $60.00 target price on shares of Nutrien in a research report on Friday, September 20th. Finally, CIBC reiterated an “outperformer” rating and set a $55.00 price target (down from $60.00) on shares of Nutrien in a research report on Tuesday, December 10th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Central Pacific Bank Trust Division purchased a new stake in shares of Nutrien during the third quarter worth about $28,000. Andra AP fonden acquired a new stake in Nutrien during the second quarter worth approximately $51,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Nutrien during the second quarter worth approximately $52,000. Rothschild Investment LLC purchased a new stake in Nutrien in the 2nd quarter worth approximately $72,000. Finally, Larson Financial Group LLC raised its holdings in Nutrien by 1,370.6% in the 3rd quarter. Larson Financial Group LLC now owns 1,603 shares of the company’s stock valued at $77,000 after acquiring an additional 1,494 shares during the last quarter. 63.10% of the stock is currently owned by hedge funds and other institutional investors.

Nutrien Trading Up 3.4 %

Shares of Nutrien stock opened at $46.83 on Friday. The firm has a market cap of $23.06 billion, a price-to-earnings ratio of 31.43, a price-to-earnings-growth ratio of 1.73 and a beta of 0.80. Nutrien has a 52-week low of $43.69 and a 52-week high of $60.87. The company’s 50-day simple moving average is $46.85 and its 200-day simple moving average is $48.03. The company has a quick ratio of 0.82, a current ratio of 1.27 and a debt-to-equity ratio of 0.38.

Nutrien (NYSE:NTR) last released its earnings results on Wednesday, November 6th. The company reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.04). The business had revenue of $5.35 billion for the quarter, compared to analyst estimates of $5.26 billion. Nutrien had a return on equity of 6.99% and a net margin of 2.79%. The business’s revenue for the quarter was down 5.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.35 EPS. As a group, equities research analysts anticipate that Nutrien will post 3.5 earnings per share for the current year.

Nutrien Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Tuesday, December 31st will be given a dividend of $0.939 per share. This represents a $3.76 dividend on an annualized basis and a yield of 8.02%. The ex-dividend date of this dividend is Tuesday, December 31st. This is a boost from Nutrien’s previous quarterly dividend of $0.54. Nutrien’s dividend payout ratio (DPR) is currently 144.97%.

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.