Jefferies Financial Group Initiates Coverage on Nutrien (NYSE:NTR)

Analysts at Jefferies Financial Group started coverage on shares of Nutrien (NYSE:NTR) in a research note issued to investors on Tuesday, MarketBeat.com reports. The brokerage set a “buy” rating and a $62.00 price target on the stock. Jefferies Financial Group’s price target points to a potential upside of 15.61% from the company’s previous close.

A number of other brokerages have also commented on NTR. Berenberg Bank reduced their price target on shares of Nutrien from $67.00 to $60.00 and set a “hold” rating for the company in a research note on Thursday, February 8th. BMO Capital Markets reduced their price target on shares of Nutrien from $86.00 to $80.00 and set an “outperform” rating for the company in a research note on Thursday, January 25th. HSBC reduced their price target on shares of Nutrien from $63.00 to $57.00 and set a “hold” rating for the company in a research note on Friday, March 8th. Royal Bank of Canada cut their target price on shares of Nutrien from $75.00 to $70.00 and set an “outperform” rating for the company in a research report on Friday, February 23rd. Finally, CIBC cut their target price on shares of Nutrien from $87.00 to $76.00 and set an “outperform” rating for the company in a research report on Friday, February 23rd. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $69.43.

Nutrien Stock Up 1.1 %

NYSE:NTR opened at $53.63 on Tuesday. The firm has a market cap of $26.52 billion, a P/E ratio of 21.20, a P/E/G ratio of 1.66 and a beta of 0.89. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.65 and a current ratio of 1.17. Nutrien has a fifty-two week low of $47.90 and a fifty-two week high of $75.29. The firm has a 50-day simple moving average of $51.63 and a two-hundred day simple moving average of $55.25.

Nutrien (NYSE:NTR) last released its quarterly earnings data on Wednesday, February 21st. The company reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.35). Nutrien had a net margin of 4.33% and a return on equity of 8.59%. The firm had revenue of $5.66 billion for the quarter, compared to the consensus estimate of $5.36 billion. During the same quarter in the prior year, the business posted $2.02 earnings per share. The firm’s revenue for the quarter was down 24.8% compared to the same quarter last year. Analysts predict that Nutrien will post 3.96 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Nutrien

Several hedge funds have recently modified their holdings of NTR. BlackRock Inc. lifted its holdings in shares of Nutrien by 79.6% in the first quarter. BlackRock Inc. now owns 3,490,036 shares of the company’s stock worth $362,929,000 after buying an additional 1,547,030 shares in the last quarter. Vontobel Holding Ltd. bought a new stake in Nutrien in the first quarter worth $1,370,000. Sequoia Financial Advisors LLC bought a new stake in Nutrien in the first quarter worth $323,000. Candriam Luxembourg S.C.A. increased its position in Nutrien by 5.7% in the first quarter. Candriam Luxembourg S.C.A. now owns 11,675 shares of the company’s stock worth $1,208,000 after purchasing an additional 629 shares during the last quarter. Finally, Zions Bancorporation N.A. increased its position in Nutrien by 55.2% in the first quarter. Zions Bancorporation N.A. now owns 301 shares of the company’s stock worth $31,000 after purchasing an additional 107 shares during the last quarter. Hedge funds and other 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.