Nutrien Ltd. (NYSE:NTR) Stock Has Average Target Price of $81.15

Shares of Nutrien Ltd. (NYSE:NTR) have earned an average recommendation of “Moderate Buy” from the twenty-two research firms that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and sixteen have given a buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $79.90.

NTR has been the subject of several recent analyst reports. Jefferies Financial Group reaffirmed a “hold” rating and set a $71.00 price objective on shares of Nutrien in a research note on Monday. Scotia upgraded shares of Nutrien from a “sector perform” rating to a “sector outperform” rating and set a $80.00 target price for the company in a report on Tuesday, June 30th. Oppenheimer cut their target price on Nutrien from $82.00 to $80.00 and set an “outperform” rating on the stock in a research note on Thursday, July 23rd. KeyCorp assumed coverage on Nutrien in a research note on Thursday, September 10th. They issued a “sector weight” rating and a $73.00 target price on the stock. Finally, set a $85.00 price target on Nutrien and gave the company an “outperform” rating in a report on Monday, October 5th.

Hedge Funds Weigh In On Nutrien

Several hedge funds have recently made changes to their positions in the business. Wellington Management Group LLP purchased a new stake in Nutrien during the 2nd quarter valued at $654,081,000. Deutsche Bank AG bought a new stake in shares of Nutrien in the 2nd quarter worth $588,720,000. The Manufacturers Life Insurance Company bought a new stake in shares of Nutrien in the 2nd quarter worth $375,178,000. Canada Pension Plan Investment Board bought a new stake in shares of Nutrien in the 2nd quarter worth $359,318,000. Finally, BlackRock Inc. purchased a new position in shares of Nutrien in the second quarter worth $220,942,000. 63.10% of the stock is owned by hedge funds and other institutional investors.

Nutrien Stock Performance

NYSE:NTR opened at $67.90 on Friday. 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 has a fifty-two week low of $53.03 and a fifty-two week high of $85.36. The firm has a market cap of $32.33 billion, a PE ratio of 13.75, a price-to-earnings-growth ratio of 0.73 and a beta of 0.68. The business has a 50 day moving average price of $72.97 and a 200-day moving average price of $70.64.

Nutrien (NYSE:NTR) last issued its earnings results on Wednesday, August 5th. The company reported $2.61 EPS for the quarter, missing the consensus estimate of $2.70 by ($0.09). The firm had revenue of $10.81 billion during the quarter, compared to analysts’ expectations of $10.44 billion. Nutrien had a return on equity of 8.88% and a net margin of 8.44%. The firm’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.65 earnings per share. Equities research analysts predict that Nutrien will post 4.63 earnings per share for the current year.

Nutrien Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 16th. Shareholders of record on Tuesday, September 29th will be issued a $0.55 dividend. The ex-dividend date is Tuesday, September 29th. This represents a $2.20 annualized dividend and a yield of 3.2%. Nutrien’s dividend payout ratio (DPR) is 44.53%.

About Nutrien

Nutrien Ltd. is a Canada-based provider of crop inputs, services and solutions for agricultural producers. The company produces and distributes potash, nitrogen and phosphate products, which are used to support crop nutrition and agricultural productivity. Its product portfolio also includes crop protection products, seed, farm supplies and other agronomic inputs.

Nutrien serves farmers through a broad retail network operating primarily across North and South America, Australia and other international markets.