Nutrien (NYSE:NTR) Price Target Raised to $62.00 at Scotiabank

Nutrien (NYSE:NTR) had its price target upped by Scotiabank from $60.00 to $62.00 in a research note issued to investors on Monday,Benzinga reports. Scotiabank currently has a sector outperform rating on the stock.

A number of other equities analysts have also issued reports on the stock. JPMorgan Chase & Co. raised shares of Nutrien from an “underweight” rating to a “neutral” rating and raised their price target for the stock from $40.00 to $50.00 in a research report on Monday, January 13th. TD Securities reduced their price target on shares of Nutrien from $63.00 to $61.00 and set a “buy” rating for the company in a research report on Tuesday, November 12th. Raymond James raised shares of Nutrien from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $58.00 to $60.00 in a research report on Tuesday, December 3rd. CIBC reissued 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. Finally, Mizuho raised their price target on shares of Nutrien from $52.00 to $55.00 and gave the stock a “neutral” rating in a research report on Thursday, February 20th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $59.50.

Nutrien Stock Down 1.0 %

NTR stock opened at $52.05 on Monday. The firm has a 50 day moving average of $49.51 and a 200 day moving average of $48.29. The stock has a market capitalization of $25.49 billion, a PE ratio of 37.99, a price-to-earnings-growth ratio of 1.19 and a beta of 0.81. 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 has a 52 week low of $43.69 and a 52 week high of $60.87.

Nutrien (NYSE:NTR) last released its earnings results on Wednesday, February 19th. The company reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.09). The company had revenue of $5.08 billion during the quarter, compared to analyst estimates of $5.09 billion. Nutrien had a return on equity of 6.81% and a net margin of 2.62%. Sell-side analysts forecast that Nutrien will post 3.72 earnings per share for the current year.

Nutrien Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Monday, March 31st will be paid a $0.545 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $2.18 dividend on an annualized basis and a yield of 4.19%. Nutrien’s dividend payout ratio is currently 159.12%.

Institutional Investors Weigh In On Nutrien

A number of institutional investors have recently added to or reduced their stakes in NTR. Norges Bank acquired a new stake in Nutrien in the 4th quarter valued at $241,958,000. Arrowstreet Capital Limited Partnership boosted its stake in Nutrien by 159.5% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 5,435,627 shares of the company’s stock worth $242,976,000 after purchasing an additional 3,341,169 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Nutrien during the third quarter worth $150,181,000. ARGA Investment Management LP grew its holdings in shares of Nutrien by 25.7% during the fourth quarter. ARGA Investment Management LP now owns 6,043,590 shares of the company’s stock worth $270,396,000 after buying an additional 1,236,671 shares in the last quarter. Finally, Clal Insurance Enterprises Holdings Ltd grew its holdings in shares of Nutrien by 78.8% during the third quarter. Clal Insurance Enterprises Holdings Ltd now owns 2,495,282 shares of the company’s stock worth $121,271,000 after buying an additional 1,100,000 shares in the last quarter. Institutional investors and hedge funds 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.