Nutrien (NYSE:NTR) Price Target Raised to $63.00

Nutrien (NYSE:NTR) had its price target upped by Bank of America from $60.00 to $63.00 in a research note released on Wednesday morning,Benzinga reports. Bank of America currently has a buy rating on the stock.

A number of other research analysts have also commented on the company. BNP Paribas raised Nutrien to a “strong-buy” rating in a report on Wednesday, April 9th. Mizuho lifted their price target on shares of Nutrien from $52.00 to $55.00 and gave the company a “neutral” rating in a research report on Thursday, February 20th. Barclays boosted their price objective on shares of Nutrien from $56.00 to $59.00 and gave the stock an “equal weight” rating in a research note on Wednesday, March 5th. Piper Sandler upped their price objective on shares of Nutrien from $58.00 to $63.00 and gave the stock an “overweight” rating in a report on Monday, January 27th. Finally, Royal Bank of Canada lifted their target price on shares of Nutrien from $60.00 to $65.00 and gave the stock an “outperform” rating in a report on Monday, May 12th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Nutrien presently has a consensus rating of “Hold” and a consensus target price of $61.44.

Nutrien Trading Up 0.8%

NYSE:NTR opened at $57.92 on Wednesday. The company has a market capitalization of $28.28 billion, a P/E ratio of 42.28, a P/E/G ratio of 1.19 and a beta of 0.79. The stock’s 50 day moving average price is $52.62 and its 200 day moving average price is $50.27. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.82 and a current ratio of 1.27. Nutrien has a 52 week low of $43.70 and a 52 week high of $60.87.

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

Nutrien Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 18th. Shareholders of record on Monday, June 30th will be issued a $0.545 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $2.18 annualized dividend and a yield of 3.76%. Nutrien’s dividend payout ratio (DPR) is 203.74%.

Institutional Trading of Nutrien

A number of hedge funds have recently modified their holdings of the company. Sciencast Management LP acquired a new position in shares of Nutrien in the first quarter valued at $208,000. Guardian Partners Inc. boosted its position in shares of Nutrien by 8.7% during the 1st quarter. Guardian Partners Inc. now owns 331,703 shares of the company’s stock valued at $16,991,000 after acquiring an additional 26,426 shares in the last quarter. NewEdge Advisors LLC boosted its position in shares of Nutrien by 6.2% during the 1st quarter. NewEdge Advisors LLC now owns 6,907 shares of the company’s stock valued at $343,000 after acquiring an additional 404 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Nutrien by 65.1% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,224 shares of the company’s stock valued at $1,253,000 after acquiring an additional 9,950 shares during the period. Finally, Ion Asset Management Ltd. acquired a new position in Nutrien in the first quarter worth about $703,000. 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.