Nutrien’s (NTR) Sector Perform Rating Reiterated at Scotiabank

Scotiabank reaffirmed their sector perform rating on shares of Nutrien (NYSE:NTR) in a research note released on Wednesday morning, Marketbeat.com reports. They currently have a $62.00 price objective on the stock.

NTR has been the topic of several other reports. Oppenheimer increased their target price on Nutrien from $58.00 to $63.00 and gave the stock an “outperform” rating in a research report on Tuesday. Royal Bank of Canada boosted their price target on shares of Nutrien from $60.00 to $65.00 and gave the company an “outperform” rating in a report on Monday. Mizuho boosted their price target on shares of Nutrien from $52.00 to $55.00 and gave the company a “neutral” rating in a report on Thursday, February 20th. Berenberg Bank boosted their price target on shares of Nutrien from $54.00 to $59.00 and gave the company a “buy” rating in a report on Tuesday, April 15th. Finally, Piper Sandler boosted their price target on shares of Nutrien from $58.00 to $63.00 and gave the company an “overweight” rating in a report on Monday, January 27th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $61.44.

Nutrien Price Performance

Shares of NYSE:NTR opened at $56.89 on Wednesday. The company has a market cap of $27.78 billion, a PE ratio of 41.53, a P/E/G ratio of 1.19 and a beta of 0.79. Nutrien has a fifty-two week low of $43.70 and a fifty-two week high of $60.87. The firm has a 50-day simple moving average of $52.35 and a 200 day simple moving average of $50.14. The company has a quick ratio of 0.82, a current ratio of 1.27 and a debt-to-equity ratio of 0.38.

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

Nutrien Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 18th. Stockholders of record on Monday, June 30th will be paid a $0.545 dividend. This represents a $2.18 dividend on an annualized basis and a dividend yield of 3.83%. The ex-dividend date is Monday, June 30th. Nutrien’s dividend payout ratio is currently 203.74%.

Institutional Trading of Nutrien

A number of institutional investors have recently made changes to their positions in the stock. Fairway Wealth LLC acquired a new stake in Nutrien during the fourth quarter valued at approximately $27,000. HHM Wealth Advisors LLC lifted its stake in Nutrien by 331.0% during the fourth quarter. HHM Wealth Advisors LLC now owns 625 shares of the company’s stock valued at $28,000 after purchasing an additional 480 shares during the last quarter. Assetmark Inc. lifted its stake in Nutrien by 1,437.5% during the fourth quarter. Assetmark Inc. now owns 738 shares of the company’s stock valued at $33,000 after purchasing an additional 690 shares during the last quarter. Asset Planning Inc acquired a new stake in Nutrien during the fourth quarter valued at approximately $35,000. Finally, Harbour Investments Inc. lifted its stake in Nutrien by 94.8% during the first quarter. Harbour Investments Inc. now owns 715 shares of the company’s stock valued at $35,000 after purchasing an additional 348 shares during the last quarter. 63.10% of the stock is owned by institutional investors and hedge funds.

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.