Nutrien (NYSE:NTR) Given “Sector Perform” Rating at Scotiabank

Scotiabank restated their sector perform rating on shares of Nutrien (NYSE:NTR) in a report released on Wednesday morning, Marketbeat reports. They currently have a $62.00 target price on the stock.

Other research analysts also recently issued reports about the stock. Piper Sandler boosted their price objective on shares of Nutrien from $58.00 to $63.00 and gave the company an “overweight” rating in a research report on Monday, January 27th. TD Securities boosted their price objective on shares of Nutrien from $64.00 to $67.00 and gave the company a “buy” rating in a research report on Monday, May 12th. Oppenheimer boosted their price objective on shares of Nutrien from $58.00 to $63.00 and gave the company an “outperform” rating in a research report on Tuesday. BNP Paribas raised shares of Nutrien to a “strong-buy” rating in a research report on Wednesday, April 9th. Finally, Berenberg Bank boosted their price objective on shares of Nutrien from $54.00 to $59.00 and gave the company a “buy” rating in a research report on Tuesday, April 15th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $61.44.

Nutrien Trading Up 0.8%

NYSE:NTR opened at $57.92 on Wednesday. The company has a fifty day moving average of $52.62 and a 200 day moving average of $50.27. Nutrien has a 52 week low of $43.70 and a 52 week high of $60.87. The company has a quick ratio of 0.82, a current ratio of 1.27 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $28.28 billion, a P/E ratio of 42.28, a P/E/G ratio of 1.19 and a beta of 0.79.

Nutrien (NYSE:NTR) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.24). Nutrien had a net margin of 2.62% and a return on equity of 6.81%. The firm had revenue of $4.67 billion for the quarter, compared to the consensus estimate of $5.16 billion. During the same quarter in the prior year, the company earned $0.46 earnings per share. The company’s quarterly revenue was down 5.4% compared to the same quarter last year. On average, research analysts predict that Nutrien will post 3.72 earnings per share for the current year.

Nutrien Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 18th. Stockholders of record on Monday, June 30th will be given a dividend of $0.545 per share. This represents a $2.18 annualized dividend and a dividend yield of 3.76%. The ex-dividend date of this dividend is Monday, June 30th. Nutrien’s payout ratio is currently 203.74%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Covea Finance boosted its stake in Nutrien by 21.9% during the fourth quarter. Covea Finance now owns 55,600 shares of the company’s stock worth $2,485,000 after buying an additional 10,000 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Nutrien by 8.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,886,376 shares of the company’s stock worth $84,367,000 after buying an additional 144,025 shares during the period. Van ECK Associates Corp boosted its stake in Nutrien by 5.7% during the fourth quarter. Van ECK Associates Corp now owns 1,480,870 shares of the company’s stock worth $66,264,000 after buying an additional 80,382 shares during the period. Secured Retirement Advisors LLC purchased a new position in Nutrien during the fourth quarter worth $654,000. Finally, Abel Hall LLC purchased a new position in Nutrien during the fourth quarter worth $276,000. 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.