Nutrien (NYSE:NTR) Earns Outperform Rating from Royal Bank of Canada

Royal Bank of Canada reiterated their outperform rating on shares of Nutrien (NYSE:NTR) in a research report released on Friday, Benzinga reports. They currently have a $60.00 target price on the stock.

Several other equities research analysts have also recently issued reports on NTR. TD Securities lowered their target price on shares of Nutrien from $69.00 to $67.00 and set a buy rating on the stock in a research note on Thursday, August 1st. Hsbc Global Res cut shares of Nutrien from a hold rating to a moderate sell rating in a research note on Friday, August 2nd. Wells Fargo & Company cut their price objective on shares of Nutrien from $68.00 to $66.00 and set an overweight rating for the company in a report on Tuesday, July 16th. UBS Group lowered their target price on Nutrien from $67.00 to $66.00 and set a buy rating on the stock in a report on Tuesday, July 9th. Finally, Mizuho cut their price target on Nutrien from $55.00 to $52.00 and set a neutral rating for the company in a report on Thursday, August 8th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, Nutrien has an average rating of Hold and an average target price of $62.39.

Nutrien Stock Performance

Shares of NTR stock opened at $47.06 on Friday. Nutrien has a 12-month low of $44.65 and a 12-month high of $63.60. The business’s fifty day simple moving average is $48.00 and its 200-day simple moving average is $51.86. The company has a current ratio of 1.26, a quick ratio of 0.82 and a debt-to-equity ratio of 0.37. The company has a market cap of $23.29 billion, a PE ratio of 27.52, a PEG ratio of 1.53 and a beta of 0.82.

Nutrien (NYSE:NTR) last issued its quarterly earnings results 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 during the quarter, compared to analysts’ expectations of $10.82 billion. During the same quarter in the previous year, the firm posted $2.53 EPS. The firm’s revenue was down 12.9% compared to the same quarter last year. Analysts expect that Nutrien will post 3.81 earnings per share for the current fiscal year.

Nutrien Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 18th. Investors of record on Friday, September 27th will be paid a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a yield of 4.59%. The ex-dividend date is Friday, September 27th. Nutrien’s dividend payout ratio is 126.32%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of NTR. Panagora Asset Management Inc. bought a new stake in Nutrien in the 4th quarter valued at $268,000. PNC Financial Services Group Inc. lifted its stake in shares of Nutrien by 3.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 14,332 shares of the company’s stock valued at $807,000 after buying an additional 432 shares during the period. Clearbridge Investments LLC acquired a new stake in Nutrien during the fourth quarter worth about $32,448,000. Corient Private Wealth LLC increased its stake in Nutrien by 8.7% during the fourth quarter. Corient Private Wealth LLC now owns 27,810 shares of the company’s stock valued at $1,567,000 after acquiring an additional 2,229 shares during the period. Finally, Trexquant Investment LP bought a new position in Nutrien during the fourth quarter valued at about $3,405,000. Institutional investors and hedge funds own 63.10% of the company’s stock.

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.