National Bank Financial Cuts Nutrien (NYSE:NTR) Price Target to $74.00

Nutrien (NYSE:NTR) had its price objective trimmed by National Bank Financial from $76.00 to $74.00 in a research note issued to investors on Monday,BayStreet.CA reports. The brokerage currently has an outperform rating on the stock.

Several other analysts also recently weighed in on the stock. JPMorgan Chase & Co. boosted their price target on shares of Nutrien from $78.00 to $80.00 and gave the stock an “overweight” rating in a research note on Monday, May 11th. Scotiabank raised Nutrien from a “sector perform” rating to a “sector outperform” rating and set a $80.00 price objective on the stock in a research note on Tuesday, June 30th. Morgan Stanley decreased their price objective on Nutrien from $93.00 to $81.00 and set an “overweight” rating on the stock in a report on Tuesday, July 7th. TD Securities reissued a “buy” rating on shares of Nutrien in a research note on Wednesday, May 6th. Finally, Berenberg Bank set a $65.00 target price on Nutrien and gave the company a “hold” rating in a report on Wednesday, June 10th. Seventeen analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $81.58.

Nutrien Trading Down 0.4%

NTR stock opened at $67.03 on Monday. The company has a market capitalization of $32.06 billion, a PE ratio of 13.57, a price-to-earnings-growth ratio of 0.67 and a beta of 0.61. Nutrien has a one year low of $53.03 and a one year high of $85.36. The company’s 50 day moving average price is $65.94 and its two-hundred day moving average price is $70.43. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.86 and a current ratio of 1.39.

Nutrien (NYSE:NTR) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $2.61 earnings per share for the quarter, missing analysts’ consensus estimates of $2.70 by ($0.09). Nutrien had a return on equity of 8.88% and a net margin of 8.44%.The business had revenue of $10.81 billion during the quarter, compared to the consensus estimate of $10.44 billion. During the same quarter in the previous year, the firm posted $2.65 earnings per share. The company’s revenue was up 3.6% compared to the same quarter last year. As a group, analysts predict that Nutrien will post 5.01 earnings per share for the current fiscal year.

Nutrien Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 16th. Investors of record on Tuesday, September 29th will be paid a $0.55 dividend. The ex-dividend date of this dividend is Tuesday, September 29th. This represents a $2.20 dividend on an annualized basis and a yield of 3.3%. Nutrien’s dividend payout ratio (DPR) is presently 44.53%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Montag A & Associates Inc. lifted its position in shares of Nutrien by 310.7% in the 4th quarter. Montag A & Associates Inc. now owns 423 shares of the company’s stock worth $26,000 after purchasing an additional 320 shares during the period. Thurston Springer Miller Herd & Titak Inc. increased its position in shares of Nutrien by 1,014.0% during the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 479 shares of the company’s stock valued at $30,000 after buying an additional 436 shares during the period. Global Retirement Partners LLC bought a new position in Nutrien in the second quarter worth about $30,000. Evolution Wealth Management Inc. bought a new position in Nutrien in the first quarter worth about $32,000. Finally, Allied Private Wealth LLC purchased a new stake in Nutrien in the second quarter worth about $33,000. 63.10% of the stock is owned by hedge funds and other institutional investors.

Nutrien Company Profile

Nutrien Ltd. is a global fertilizer and agricultural-services company headquartered in Saskatoon, Saskatchewan, Canada. The company is publicly traded and operates across the farm input value chain, combining upstream fertilizer production with a broad retail and services platform aimed at supporting crop production worldwide. Nutrien’s business model integrates the manufacture and distribution of crop nutrients with on-the-ground agronomic support for growers and agricultural businesses.

Nutrien produces and supplies the three primary fertilizer nutrients—potash, nitrogen and phosphate—through its wholesale operations, and markets a wide range of crop inputs including seeds and crop protection products.