Nutrien (NYSE:NTR) Price Target Raised to $85.00 at Royal Bank Of Canada

Nutrien (NYSE:NTR) had its price target lifted by Royal Bank Of Canada from $80.00 to $85.00 in a report published on Tuesday,BayStreet.CA reports. Royal Bank Of Canada currently has an outperform rating on the stock.

Other analysts have also issued research reports about the company. Barclays increased their target price on Nutrien from $70.00 to $80.00 and gave the stock an “equal weight” rating in a research note on Tuesday, March 3rd. Raymond James Financial increased their target price on Nutrien from $68.00 to $74.00 and gave the stock a “market perform” rating in a research note on Friday, February 20th. Jefferies Financial Group upgraded Nutrien from a “hold” rating to a “buy” rating and increased their target price for the stock from $74.00 to $96.00 in a research note on Thursday, March 12th. UBS Group lowered Nutrien from a “neutral” rating to a “sell” rating and increased their target price for the stock from $63.00 to $67.00 in a research note on Thursday, March 26th. Finally, Oppenheimer increased their target price on Nutrien from $76.00 to $78.00 and gave the stock an “outperform” rating in a research note on Thursday, February 26th. Eleven research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, Nutrien currently has an average rating of “Hold” and an average price target of $77.61.

Nutrien Stock Up 1.3%

Shares of NTR opened at $76.83 on Tuesday. The company has a market cap of $36.96 billion, a PE ratio of 16.49 and a beta of 0.69. The business has a fifty day moving average of $73.94 and a 200 day moving average of $64.93. Nutrien has a 52-week low of $46.30 and a 52-week high of $85.36. The company has a quick ratio of 0.70, a current ratio of 1.34 and a debt-to-equity ratio of 0.37.

Nutrien (NYSE:NTR) last issued its quarterly earnings results on Wednesday, February 18th. The company reported $0.83 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.04). Nutrien had a return on equity of 8.41% and a net margin of 8.43%.The company had revenue of $5.12 billion during the quarter, compared to the consensus estimate of $5.26 billion. During the same quarter 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. On average, sell-side analysts expect that Nutrien will post 3.72 EPS for the current year.

Nutrien Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 16th. Investors of record on Tuesday, March 31st will be issued a $0.55 dividend. The ex-dividend date is Tuesday, March 31st. This is an increase from Nutrien’s previous quarterly dividend of $0.55. This represents a $2.20 annualized dividend and a dividend yield of 2.9%. Nutrien’s dividend payout ratio is presently 47.21%.

Institutional Trading of Nutrien

Several institutional investors and hedge funds have recently made changes to their positions in NTR. Wellington Management Group LLP raised its holdings in shares of Nutrien by 440.2% in the fourth quarter. Wellington Management Group LLP now owns 16,338,606 shares of the company’s stock valued at $1,008,713,000 after acquiring an additional 13,313,817 shares in the last quarter. Norges Bank purchased a new position in Nutrien in the fourth quarter valued at about $412,635,000. Arrowstreet Capital Limited Partnership grew its stake in Nutrien by 19.1% in the third quarter. Arrowstreet Capital Limited Partnership now owns 14,221,381 shares of the company’s stock valued at $834,962,000 after purchasing an additional 2,276,651 shares during the last quarter. TD Asset Management Inc grew its stake in Nutrien by 21.2% in the fourth quarter. TD Asset Management Inc now owns 8,928,534 shares of the company’s stock valued at $551,821,000 after purchasing an additional 1,559,673 shares during the last quarter. Finally, OMERS ADMINISTRATION Corp grew its stake in Nutrien by 5,891.2% in the fourth quarter. OMERS ADMINISTRATION Corp now owns 1,240,184 shares of the company’s stock valued at $76,650,000 after purchasing an additional 1,219,484 shares during the last quarter. 63.10% of the stock is currently owned by institutional investors.

About Nutrien

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.