Nutrien (NYSE:NTR) Sees Strong Trading Volume

Shares of Nutrien Ltd. (NYSE:NTRGet Rating) saw strong trading volume on Tuesday . 113,439 shares were traded during mid-day trading, a decline of 95% from the previous session’s volume of 2,398,172 shares.The stock last traded at $81.49 and had previously closed at $83.66.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. JPMorgan Chase & Co. set a $120.00 price target on shares of Nutrien in a research note on Wednesday, May 4th. Raymond James raised their price objective on shares of Nutrien from $105.00 to $125.00 and gave the stock an “outperform” rating in a report on Wednesday, May 4th. TD Securities dropped their price objective on shares of Nutrien from $130.00 to $110.00 and set a “buy” rating on the stock in a report on Friday, July 29th. Piper Sandler lifted their price target on shares of Nutrien from $112.00 to $125.00 and gave the company an “overweight” rating in a report on Tuesday, May 31st. Finally, Credit Suisse Group initiated coverage on shares of Nutrien in a report on Thursday, July 14th. They issued an “underperform” rating and a $67.00 target price on the stock. One analyst has rated the stock with a sell rating, four have assigned a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $106.56.

Nutrien Price Performance

The company has a debt-to-equity ratio of 0.31, a current ratio of 1.14 and a quick ratio of 0.53. The firm has a market cap of $44.41 billion, a P/E ratio of 10.51, a PEG ratio of 0.62 and a beta of 0.93. The stock’s 50-day simple moving average is $83.47 and its two-hundred day simple moving average is $89.39.

Nutrien (NYSE:NTRGet Rating) last posted its quarterly earnings results on Monday, May 2nd. The company reported $2.70 EPS for the quarter, topping analysts’ consensus estimates of $2.59 by $0.11. The firm had revenue of $7.66 billion for the quarter, compared to analysts’ expectations of $7.77 billion. Nutrien had a net margin of 14.34% and a return on equity of 20.55%. Equities research analysts forecast that Nutrien Ltd. will post 16.9 earnings per share for the current fiscal year.

Nutrien Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 15th. Stockholders of record on Thursday, June 30th were issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.34%. The ex-dividend date of this dividend was Wednesday, June 29th. Nutrien’s payout ratio is presently 24.65%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Hardy Reed LLC purchased a new stake in Nutrien in the first quarter worth about $27,000. Covestor Ltd purchased a new stake in Nutrien in the first quarter worth about $30,000. Zions Bancorporation N.A. lifted its stake in Nutrien by 55.2% in the first quarter. Zions Bancorporation N.A. now owns 301 shares of the company’s stock worth $31,000 after acquiring an additional 107 shares during the period. Allworth Financial LP purchased a new stake in shares of Nutrien during the first quarter valued at about $39,000. Finally, Retirement Planning Co of New England Inc. purchased a new stake in shares of Nutrien during the fourth quarter valued at about $28,000. 64.39% of the stock is currently owned by institutional investors.

Nutrien Company Profile

(Get Rating)

Nutrien Ltd. provides crop inputs and services. It offers potash, nitrogen, phosphate, and sulfate products; and financial solutions. The company also distributes crop nutrients, crop protection products, seeds, and merchandise products through approximately 2,000 retail locations in the United States, Canada, South America, and Australia.

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