Nutrien (NYSE:NTR) Price Target Raised to $90.00 at Canadian Imperial Bank of Commerce

Nutrien (NYSE:NTR) had its target price lifted by Canadian Imperial Bank of Commerce from $81.00 to $90.00 in a research note published on Tuesday,Benzinga reports. Canadian Imperial Bank of Commerce currently has an outperformer rating on the stock.

A number of other equities research analysts also recently commented on NTR. Wall Street Zen downgraded Nutrien from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. TD Securities upped their price target on shares of Nutrien from $80.00 to $81.00 and gave the stock a “buy” rating in a research note on Tuesday, February 17th. UBS Group increased their price target on shares of Nutrien from $58.00 to $63.00 and gave the company a “neutral” rating in a report on Monday, January 12th. BNP Paribas Exane cut shares of Nutrien from an “outperform” rating to a “neutral” rating in a research note on Monday, February 23rd. Finally, Oppenheimer boosted their price objective on shares of Nutrien from $76.00 to $78.00 and gave the stock an “outperform” rating in a report on Thursday, February 26th. Eleven equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $76.28.

Nutrien Stock Performance

NYSE NTR opened at $79.52 on Tuesday. The stock has a market capitalization of $38.26 billion, a price-to-earnings ratio of 17.06 and a beta of 0.70. The business’s 50 day moving average is $70.89 and its two-hundred day moving average is $62.96. Nutrien has a 12-month low of $45.78 and a 12-month high of $85.36. The company has a current ratio of 1.34, a quick ratio of 0.70 and a debt-to-equity ratio of 0.37.

Nutrien (NYSE:NTR) last posted its quarterly earnings results on Wednesday, February 18th. The company reported $0.83 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.04). Nutrien had a net margin of 8.43% and a return on equity of 8.41%. The business had revenue of $5.12 billion during the quarter, compared to analyst estimates of $5.26 billion. During the same period in the prior year, the business earned $0.31 earnings per share. The firm’s quarterly revenue was up 5.1% compared to the same quarter last year. Research analysts expect that Nutrien will post 3.72 EPS for the current year.

Nutrien Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 16th. Investors of record on Tuesday, March 31st will be paid a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date is Tuesday, March 31st. This is an increase from Nutrien’s previous quarterly dividend of $0.55. Nutrien’s dividend payout ratio (DPR) is currently 47.21%.

Hedge Funds Weigh In On Nutrien

Several hedge funds and other institutional investors have recently modified their holdings of the company. Montag A & Associates Inc. increased its holdings in shares of Nutrien by 310.7% in the 4th quarter. Montag A & Associates Inc. now owns 423 shares of the company’s stock worth $26,000 after acquiring an additional 320 shares during the period. Root Financial Partners LLC acquired a new position in Nutrien during the 3rd quarter valued at about $37,000. Sfam LLC bought a new position in Nutrien in the 4th quarter worth about $37,000. Eastern Bank grew its position in Nutrien by 133.0% in the 4th quarter. Eastern Bank now owns 699 shares of the company’s stock worth $43,000 after purchasing an additional 399 shares during the last quarter. Finally, Harbour Investments Inc. increased its stake in shares of Nutrien by 97.2% in the fourth quarter. Harbour Investments Inc. now owns 704 shares of the company’s stock valued at $43,000 after purchasing an additional 347 shares during the period. Institutional investors and hedge funds own 63.10% of the company’s stock.

Nutrien Company Profile

Nutrien Ltd. is a global fertilizer and agricultural-services company headquartered in Saskatoon, Saskatchewan, Canada. The company is publicly traded and operates across the farm input value chain, combining upstream fertilizer production with a broad retail and services platform aimed at supporting crop production worldwide. Nutrien’s business model integrates the manufacture and distribution of crop nutrients with on-the-ground agronomic support for growers and agricultural businesses.

Nutrien produces and supplies the three primary fertilizer nutrients—potash, nitrogen and phosphate—through its wholesale operations, and markets a wide range of crop inputs including seeds and crop protection products.