Scotiabank Issues Pessimistic Forecast for Nutrien (NYSE:NTR) Stock Price

Nutrien (NYSE:NTR) had its price objective decreased by analysts at Scotiabank from $62.00 to $60.00 in a research report issued to clients and investors on Monday, Marketbeat reports. The brokerage currently has a “sector perform” rating on the stock. Scotiabank’s price objective points to a potential upside of 5.72% from the stock’s previous close.

A number of other brokerages have also recently weighed in on NTR. Raymond James Financial cut Nutrien from an “outperform” rating to a “market perform” rating and set a $68.00 price target on the stock. in a research report on Tuesday, June 17th. Wells Fargo & Company upped their price target on Nutrien from $59.00 to $62.00 and gave the company an “equal weight” rating in a research report on Thursday, July 17th. Jefferies Financial Group reiterated a “hold” rating and issued a $66.00 price target (up from $63.00) on shares of Nutrien in a research report on Friday, July 11th. Berenberg Bank increased their target price on Nutrien from $54.00 to $59.00 and gave the stock a “buy” rating in a report on Tuesday, April 15th. Finally, Royal Bank Of Canada restated an “outperform” rating on shares of Nutrien in a report on Monday, July 14th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $62.65.

Nutrien Stock Performance

Shares of NTR traded down $0.16 on Monday, reaching $56.75. 136,858 shares of the stock traded hands, compared to its average volume of 2,271,760. The firm has a market cap of $27.63 billion, a price-to-earnings ratio of 20.34, a P/E/G ratio of 1.04 and a beta of 0.81. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.33 and a quick ratio of 0.85. Nutrien has a 12 month low of $43.69 and a 12 month high of $65.08. The stock’s 50-day moving average price is $59.62 and its 200-day moving average price is $55.46.

Nutrien (NYSE:NTR) last released its quarterly earnings data on Wednesday, August 6th. The company reported $2.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.41 by $0.24. Nutrien had a return on equity of 6.51% and a net margin of 5.25%. The business had revenue of $10.30 billion for the quarter, compared to analysts’ expectations of $10.40 billion. During the same period in the previous year, the business posted $2.34 earnings per share. Nutrien’s quarterly revenue was up 2.8% on a year-over-year basis. Equities analysts forecast that Nutrien will post 3.72 EPS for the current fiscal year.

Institutional Investors Weigh In On Nutrien

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Harbour Investments Inc. increased its position in shares of Nutrien by 94.8% during the 1st quarter. Harbour Investments Inc. now owns 715 shares of the company’s stock worth $35,000 after purchasing an additional 348 shares during the last quarter. Huntington National Bank boosted its stake in shares of Nutrien by 72.6% during the 2nd quarter. Huntington National Bank now owns 656 shares of the company’s stock worth $38,000 after acquiring an additional 276 shares during the period. Trust Co. of Toledo NA OH bought a new position in shares of Nutrien during the 2nd quarter worth approximately $49,000. Allworth Financial LP boosted its stake in shares of Nutrien by 117.1% during the 1st quarter. Allworth Financial LP now owns 938 shares of the company’s stock worth $50,000 after acquiring an additional 506 shares during the period. Finally, Caitong International Asset Management Co. Ltd boosted its stake in shares of Nutrien by 1,074.7% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 1,022 shares of the company’s stock worth $51,000 after acquiring an additional 935 shares during the period. Institutional investors and hedge funds own 63.10% of the company’s stock.

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.