Nutrien (NYSE:NTR) Cut to Equal Weight at Wells Fargo & Company

Wells Fargo & Company cut shares of Nutrien (NYSE:NTR) from an overweight rating to an equal weight rating in a research note published on Tuesday morning, MarketBeat Ratings reports. They currently have $50.00 price target on the stock, down from their previous price target of $62.00.

A number of other brokerages have also issued reports on NTR. Scotiabank cut their target price on Nutrien from $66.00 to $59.00 and set a sector outperform rating on the stock in a research report on Monday, August 12th. Mizuho cut their target price on Nutrien from $55.00 to $52.00 and set a neutral rating on the stock in a research report on Thursday, August 8th. TD Securities cut their target price on Nutrien from $69.00 to $67.00 and set a buy rating on the stock in a research report on Thursday, August 1st. Barclays cut their target price on Nutrien from $68.00 to $55.00 and set an overweight rating on the stock in a research report on Friday, August 16th. Finally, Hsbc Global Res lowered Nutrien from a hold rating to a moderate sell rating in a research report on Friday, August 2nd. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Hold and a consensus price target of $61.50.

Nutrien Stock Up 0.3 %

NTR opened at $48.25 on Tuesday. Nutrien has a one year low of $44.65 and a one year high of $63.60. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.82 and a current ratio of 1.26. The stock’s fifty day moving average is $47.74 and its 200-day moving average is $51.72. The company has a market capitalization of $23.87 billion, a PE ratio of 28.22, a P/E/G ratio of 1.55 and a beta of 0.82.

Nutrien (NYSE:NTR) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $2.34 EPS for the quarter, topping analysts’ consensus estimates of $2.19 by $0.15. Nutrien had a return on equity of 6.91% and a net margin of 2.97%. The company had revenue of $10.16 billion for the quarter, compared to the consensus estimate of $10.82 billion. During the same quarter in the previous year, the business earned $2.53 EPS. The company’s quarterly revenue was down 12.9% compared to the same quarter last year. On average, equities analysts predict that Nutrien will post 3.83 EPS for the current fiscal year.

Nutrien Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 18th. Shareholders of record on Friday, September 27th will be paid a $0.54 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $2.16 dividend on an annualized basis and a yield of 4.48%. Nutrien’s dividend payout ratio (DPR) is currently 126.32%.

Institutional Trading of Nutrien

Several large investors have recently made changes to their positions in NTR. Silchester International Investors LLP boosted its stake in shares of Nutrien by 211.6% during the 2nd quarter. Silchester International Investors LLP now owns 4,041,167 shares of the company’s stock worth $205,736,000 after acquiring an additional 2,744,213 shares in the last quarter. ARGA Investment Management LP boosted its stake in shares of Nutrien by 120.2% during the 1st quarter. ARGA Investment Management LP now owns 3,780,881 shares of the company’s stock worth $205,421,000 after acquiring an additional 2,063,881 shares in the last quarter. TD Asset Management Inc boosted its stake in shares of Nutrien by 28.6% during the 4th quarter. TD Asset Management Inc now owns 9,226,352 shares of the company’s stock worth $522,309,000 after acquiring an additional 2,050,358 shares in the last quarter. Parnassus Investments LLC boosted its stake in shares of Nutrien by 19.5% during the 4th quarter. Parnassus Investments LLC now owns 12,017,181 shares of the company’s stock worth $676,928,000 after acquiring an additional 1,960,162 shares in the last quarter. Finally, Bank of Montreal Can boosted its stake in shares of Nutrien by 15.5% during the 2nd 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. 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.