Nutrien (NYSE:NTR) Price Target Raised to $90.00

Nutrien (NYSE:NTR) had its price target increased by BMO Capital Markets from $85.00 to $90.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has an outperform rating on the stock.

Several other equities analysts have also recently issued reports on the company. UBS Group lifted their price objective on Nutrien from $58.00 to $63.00 and gave the company a “neutral” rating in a research note on Monday, January 12th. BNP Paribas Exane downgraded Nutrien from an “outperform” rating to a “neutral” rating in a report on Monday, February 23rd. Zacks Research lowered shares of Nutrien from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 2nd. Canadian Imperial Bank of Commerce upped their target price on shares of Nutrien from $81.00 to $90.00 and gave the stock an “outperformer” rating in a research report on Tuesday. Finally, Raymond James Financial upped their price objective on Nutrien from $68.00 to $74.00 and gave the company a “market perform” rating in a research report on Friday, February 20th. Eleven equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $77.11.

Nutrien Stock Performance

Shares of NYSE:NTR opened at $74.77 on Wednesday. The firm’s 50 day simple moving average is $71.89 and its 200-day simple moving average is $63.27. The firm has a market cap of $35.97 billion, a PE ratio of 16.05 and a beta of 0.70. Nutrien has a one year low of $45.78 and a one year high of $85.36. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.70 and a current ratio of 1.34.

Nutrien (NYSE:NTR) last released its earnings results on Wednesday, February 18th. The company reported $0.83 EPS for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.04). Nutrien had a return on equity of 8.41% and a net margin of 8.43%.The company had revenue of $5.12 billion during the quarter, compared to analyst estimates of $5.26 billion. During the same quarter last year, the business earned $0.31 earnings per share. The firm’s revenue for the quarter was up 5.1% on a year-over-year basis. As a group, equities analysts predict that Nutrien will post 3.72 EPS for the current year.

Nutrien Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 16th. Shareholders of record on Tuesday, March 31st will be issued a $0.55 dividend. This is a boost from Nutrien’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $2.20 annualized dividend and a yield of 2.9%. Nutrien’s payout ratio is presently 47.21%.

Hedge Funds Weigh In On Nutrien

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Guggenheim Capital LLC increased its holdings in Nutrien by 2.2% during the 4th quarter. Guggenheim Capital LLC now owns 6,628 shares of the company’s stock worth $409,000 after purchasing an additional 145 shares in the last quarter. Minot DeBlois Advisors LLC raised its position in Nutrien by 1.8% in the 4th quarter. Minot DeBlois Advisors LLC now owns 9,032 shares of the company’s stock valued at $557,000 after buying an additional 164 shares during the last quarter. Smith Moore & CO. lifted its stake in Nutrien by 2.2% in the 3rd quarter. Smith Moore & CO. now owns 7,642 shares of the company’s stock valued at $449,000 after acquiring an additional 168 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in Nutrien by 21.8% during the 4th quarter. EverSource Wealth Advisors LLC now owns 983 shares of the company’s stock worth $61,000 after acquiring an additional 176 shares during the last quarter. Finally, Cascade Investment Advisors Inc. boosted its position in Nutrien by 0.6% during the 3rd quarter. Cascade Investment Advisors Inc. now owns 30,855 shares of the company’s stock worth $1,811,000 after acquiring an additional 185 shares during the last quarter. Institutional investors own 63.10% of the company’s stock.

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.