Nutrien (NYSE:NTR) Given New $65.00 Price Target at Royal Bank of Canada

Nutrien (NYSE:NTR) had its price objective lifted by Royal Bank of Canada from $60.00 to $65.00 in a research note released on Monday,Benzinga reports. The firm currently has an outperform rating on the stock.

NTR has been the topic of a number of other reports. JPMorgan Chase & Co. upgraded shares of Nutrien from an “underweight” rating to a “neutral” rating and upped their target price for the company from $40.00 to $50.00 in a research report on Monday, January 13th. BNP Paribas raised Nutrien to a “strong-buy” rating in a research note on Wednesday, April 9th. Berenberg Bank increased their target price on Nutrien from $54.00 to $59.00 and gave the stock a “buy” rating in a research note on Tuesday, April 15th. Piper Sandler raised their price target on shares of Nutrien from $58.00 to $63.00 and gave the stock an “overweight” rating in a research note on Monday, January 27th. Finally, The Goldman Sachs Group increased their price objective on Nutrien from $53.00 to $59.00 and gave the company a “sell” rating in a report on Friday, May 9th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Nutrien presently has an average rating of “Hold” and a consensus target price of $61.44.

Nutrien Stock Performance

Nutrien stock opened at $56.89 on Monday. The company has a current ratio of 1.27, a quick ratio of 0.82 and a debt-to-equity ratio of 0.38. Nutrien has a 1 year low of $43.70 and a 1 year high of $60.87. The company has a market cap of $27.78 billion, a PE ratio of 41.53, a PEG ratio of 1.19 and a beta of 0.79. The company’s 50-day moving average is $52.35 and its two-hundred day moving average is $50.14.

Nutrien (NYSE:NTR) last released its earnings results on Wednesday, May 7th. The company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.24). Nutrien had a net margin of 2.62% and a return on equity of 6.81%. The business had revenue of $4.67 billion for the quarter, compared to analyst estimates of $5.16 billion. During the same quarter in the previous year, the company posted $0.46 earnings per share. The business’s revenue for the quarter was down 5.4% on a year-over-year basis. Equities analysts anticipate that Nutrien will post 3.72 earnings per share for the current year.

Nutrien Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 18th. Investors of record on Monday, June 30th will be issued a dividend of $0.545 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $2.18 dividend on an annualized basis and a yield of 3.83%. Nutrien’s dividend payout ratio (DPR) is 203.74%.

Institutional Investors Weigh In On Nutrien

Institutional investors and hedge funds have recently made changes to their positions in the company. Covea Finance increased its position in shares of Nutrien by 21.9% during the 4th quarter. Covea Finance now owns 55,600 shares of the company’s stock valued at $2,485,000 after purchasing an additional 10,000 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Nutrien by 8.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,886,376 shares of the company’s stock valued at $84,367,000 after purchasing an additional 144,025 shares in the last quarter. Van ECK Associates Corp grew its position in shares of Nutrien by 5.7% during the fourth quarter. Van ECK Associates Corp now owns 1,480,870 shares of the company’s stock valued at $66,264,000 after purchasing an additional 80,382 shares in the last quarter. Secured Retirement Advisors LLC purchased a new position in Nutrien in the fourth quarter worth about $654,000. Finally, Abel Hall LLC purchased a new position in Nutrien in the fourth quarter worth about $276,000. Institutional investors own 63.10% of the company’s stock.

Nutrien Company Profile

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.