Nutrien (NYSE:NTR) Price Target Raised to $61.00

Nutrien (NYSE:NTR) had its price target lifted by Barclays from $59.00 to $61.00 in a research report released on Wednesday morning,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

Several other analysts also recently weighed in on the stock. Bank of America boosted their price objective on shares of Nutrien from $60.00 to $63.00 and gave the stock a “buy” rating in a research report on Wednesday. Scotiabank reiterated a “sector perform” rating and set a $62.00 price target on shares of Nutrien in a research note on Wednesday. Berenberg Bank upped their price objective on shares of Nutrien from $54.00 to $59.00 and gave the company a “buy” rating in a research note on Tuesday, April 15th. UBS Group raised their price objective on Nutrien from $52.00 to $56.00 and gave the stock a “neutral” rating in a report on Thursday, May 8th. Finally, CIBC boosted their target price on Nutrien from $64.00 to $66.00 and gave the company an “outperformer” rating in a report on Tuesday, February 25th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $61.44.

Nutrien Stock Performance

Shares of NTR stock opened at $57.92 on Wednesday. The company has a current ratio of 1.27, a quick ratio of 0.82 and a debt-to-equity ratio of 0.38. The firm has a fifty day moving average price of $52.62 and a 200 day moving average price of $50.27. The company has a market cap of $28.28 billion, a P/E ratio of 42.28, a PEG ratio of 1.19 and a beta of 0.79. Nutrien has a 12 month low of $43.70 and a 12 month high of $60.87.

Nutrien (NYSE:NTR) last posted 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). Nutrien had a net margin of 2.62% and a return on equity of 6.81%. The business had revenue of $4.67 billion during the quarter, compared to analyst estimates of $5.16 billion. During the same quarter in the prior year, the business earned $0.46 earnings per share. The firm’s quarterly revenue was down 5.4% on a year-over-year basis. Sell-side analysts predict that Nutrien will post 3.72 earnings per share for the current fiscal year.

Nutrien Dividend Announcement

The company also recently announced 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 annualized dividend and a dividend yield of 3.76%. The ex-dividend date is Monday, June 30th. Nutrien’s dividend payout ratio (DPR) is presently 203.74%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in NTR. Fairway Wealth LLC purchased a new position in shares of Nutrien during the 4th quarter worth approximately $27,000. HHM Wealth Advisors LLC raised its position in Nutrien by 331.0% in the fourth quarter. HHM Wealth Advisors LLC now owns 625 shares of the company’s stock worth $28,000 after acquiring an additional 480 shares in the last quarter. Harbour Investments Inc. lifted its holdings in Nutrien by 94.8% in the first quarter. Harbour Investments Inc. now owns 715 shares of the company’s stock valued at $35,000 after acquiring an additional 348 shares during the period. Assetmark Inc. lifted its holdings in Nutrien by 1,437.5% in the fourth quarter. Assetmark Inc. now owns 738 shares of the company’s stock valued at $33,000 after acquiring an additional 690 shares during the period. Finally, Asset Planning Inc purchased a new stake in shares of Nutrien during the 4th quarter worth $35,000. 63.10% of the stock is currently owned by institutional investors and hedge funds.

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.