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

Royal Bank of Canada reissued their outperform rating on shares of Nutrien (NYSE:NTR) in a research report released on Friday, Benzinga reports. The firm currently has a $60.00 price objective on the stock.

A number of other research analysts have also commented on NTR. Mizuho decreased their price target on shares of Nutrien from $55.00 to $52.00 and set a neutral rating on the stock in a research note on Thursday, August 8th. HSBC cut Nutrien from a hold rating to a reduce rating in a research report on Friday, August 2nd. BMO Capital Markets reduced their target price on shares of Nutrien from $80.00 to $75.00 and set an outperform rating for the company in a research report on Friday, August 9th. Wells Fargo & Company lowered their price target on shares of Nutrien from $68.00 to $66.00 and set an overweight rating on the stock in a research report on Tuesday, July 16th. Finally, Scotiabank cut their price objective on shares of Nutrien from $66.00 to $59.00 and set a sector outperform rating for the company in a report on Monday, August 12th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of Hold and an average price target of $62.39.

Nutrien Trading Down 1.8 %

NYSE NTR opened at $47.06 on Friday. The company has a market capitalization of $23.29 billion, a PE ratio of 27.52, a P/E/G ratio of 1.53 and a beta of 0.82. Nutrien has a 12 month low of $44.65 and a 12 month high of $63.60. The stock has a 50-day simple moving average of $48.00 and a 200 day simple moving average of $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.

Nutrien (NYSE:NTR) last posted its earnings results on Wednesday, August 7th. The company reported $2.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.19 by $0.15. The business had revenue of $10.16 billion during the quarter, compared to analysts’ expectations of $10.82 billion. Nutrien had a return on equity of 6.91% and a net margin of 2.97%. Nutrien’s revenue for the quarter was down 12.9% compared to the same quarter last year. During the same period in the prior year, the business earned $2.53 EPS. Research analysts forecast that Nutrien will post 3.81 EPS for the current year.

Nutrien Announces Dividend

The business 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 dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 4.59%. The ex-dividend date is Friday, September 27th. Nutrien’s dividend payout ratio is currently 126.32%.

Institutional Trading of Nutrien

Institutional investors and hedge funds have recently modified their holdings of the company. Manning & Napier Advisors LLC purchased a new stake in shares of Nutrien in the second quarter valued at approximately $2,639,000. Vanguard Group Inc. boosted its stake in Nutrien by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 18,210,375 shares of the company’s stock worth $1,025,790,000 after purchasing an additional 158,161 shares in the last quarter. SG Americas Securities LLC grew its holdings in shares of Nutrien by 370.1% during the first quarter. SG Americas Securities LLC now owns 58,041 shares of the company’s stock valued at $3,152,000 after buying an additional 45,695 shares during the last quarter. BNP Paribas purchased a new stake in shares of Nutrien in the 1st quarter valued at $1,146,000. Finally, Wellington Management Group LLP boosted its position in Nutrien by 54.3% in the 4th quarter. Wellington Management Group LLP now owns 841,144 shares of the company’s stock worth $47,620,000 after purchasing an additional 296,122 shares in the last quarter. 63.10% of the stock is currently owned by institutional investors.

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.