Oppenheimer Cuts Nutrien (NYSE:NTR) Price Target to $58.00

Nutrien (NYSE:NTR) had its price target lowered by Oppenheimer from $60.00 to $58.00 in a research report released on Tuesday morning,Benzinga reports. The brokerage currently has an outperform rating on the stock.

Several other equities analysts have also recently issued reports on the company. Wells Fargo & Company boosted their price target on Nutrien from $53.00 to $56.00 and gave the company an “equal weight” rating in a research report on Friday, February 21st. Scotiabank upped their price target on Nutrien from $60.00 to $62.00 and gave the stock a “sector outperform” rating in a research note on Monday, February 24th. CIBC increased their price target on Nutrien from $64.00 to $66.00 and gave the stock an “outperformer” rating in a report on Tuesday, February 25th. Royal Bank of Canada reissued an “outperform” rating and issued a $60.00 price objective on shares of Nutrien in a research note on Monday, February 24th. Finally, The Goldman Sachs Group assumed coverage on shares of Nutrien in a report on Thursday, March 13th. They issued a “sell” rating and a $53.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $59.27.

Nutrien Price Performance

NTR stock opened at $53.66 on Tuesday. 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 has a fifty-two week low of $43.70 and a fifty-two week high of $60.87. The business has a 50 day moving average price of $51.07 and a 200 day moving average price of $49.36. The stock has a market cap of $26.23 billion, a price-to-earnings ratio of 39.17, a PEG ratio of 1.19 and a beta of 0.77.

Nutrien (NYSE:NTR) last posted its earnings results on Wednesday, February 19th. The company reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.09). Nutrien had a return on equity of 6.81% and a net margin of 2.62%. The firm had revenue of $5.08 billion for the quarter, compared to analyst estimates of $5.09 billion. Equities research analysts anticipate that Nutrien will post 3.72 earnings per share for the current fiscal year.

Nutrien Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 10th. Stockholders of record on Monday, March 31st were given a $0.545 dividend. This represents a $2.18 dividend on an annualized basis and a dividend yield of 4.06%. The ex-dividend date was Monday, March 31st. Nutrien’s dividend payout ratio is currently 159.12%.

Institutional Investors Weigh In On Nutrien

Several institutional investors and hedge funds have recently made changes to their positions in NTR. U S Global Investors Inc. acquired a new position in Nutrien during the first quarter worth about $869,000. Bessemer Group Inc. increased its stake in shares of Nutrien by 163.7% during the 1st quarter. Bessemer Group Inc. now owns 1,690 shares of the company’s stock worth $84,000 after purchasing an additional 1,049 shares in the last quarter. Moran Wealth Management LLC raised its position in shares of Nutrien by 36.5% during the 1st quarter. Moran Wealth Management LLC now owns 18,729 shares of the company’s stock worth $929,000 after purchasing an additional 5,008 shares during the last quarter. Sava Infond d.o.o. lifted its stake in Nutrien by 50.9% in the 1st quarter. Sava Infond d.o.o. now owns 35,550 shares of the company’s stock valued at $1,766,000 after buying an additional 11,990 shares in the last quarter. Finally, Intact Investment Management Inc. grew its holdings in Nutrien by 29.1% during the 1st quarter. Intact Investment Management Inc. now owns 1,115,348 shares of the company’s stock valued at $55,362,000 after buying an additional 251,670 shares during the last quarter. 63.10% of the stock is currently owned by hedge funds and other institutional investors.

About Nutrien

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.