Nutrien (NYSE:NTR) Price Target Cut to $80.00 by Analysts at Oppenheimer

Nutrien (NYSE:NTR) had its target price reduced by Oppenheimer from $82.00 to $80.00 in a report released on Thursday morning,Benzinga reports. They currently have an outperform rating on the stock.

NTR has been the subject of several other reports. Morgan Stanley lowered their target price on Nutrien from $93.00 to $81.00 and set an “overweight” rating for the company in a research note on Tuesday, July 7th. Canadian Imperial Bank of Commerce reduced their price target on Nutrien from $90.00 to $88.00 and set an “outperformer” rating on the stock in a research report on Thursday, April 30th. Royal Bank Of Canada boosted their price objective on Nutrien from $80.00 to $85.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 7th. Bank of America raised Nutrien from a “neutral” rating to a “buy” rating and set a $82.00 price objective for the company in a research report on Thursday, April 30th. Finally, UBS Group reduced their target price on shares of Nutrien from $67.00 to $65.00 and set a “sell” rating on the stock in a report on Monday, May 11th. Fourteen equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $81.89.

Nutrien Price Performance

Nutrien stock opened at $68.56 on Thursday. The firm has a market cap of $32.80 billion, a PE ratio of 13.96, a price-to-earnings-growth ratio of 0.67 and a beta of 0.62. Nutrien has a 52-week low of $53.03 and a 52-week high of $85.36. The company has a quick ratio of 0.59, a current ratio of 1.24 and a debt-to-equity ratio of 0.35. The company’s 50 day moving average is $66.59 and its two-hundred day moving average is $70.05.

Nutrien (NYSE:NTR) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $0.51 EPS for the quarter, topping the consensus estimate of $0.48 by $0.03. Nutrien had a net margin of 8.58% and a return on equity of 8.84%. The business had revenue of $6.05 billion during the quarter, compared to the consensus estimate of $5.30 billion. During the same quarter in the previous year, the firm posted $0.11 earnings per share. The company’s quarterly revenue was up 18.5% compared to the same quarter last year. On average, research analysts expect that Nutrien will post 5.11 EPS for the current fiscal year.

Nutrien Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 17th. Shareholders of record on Tuesday, June 30th were issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend was Tuesday, June 30th. Nutrien’s payout ratio is 44.81%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in NTR. Vanguard Group Inc. raised its position in shares of Nutrien by 2.2% during the 4th quarter. Vanguard Group Inc. now owns 22,463,277 shares of the company’s stock worth $1,386,546,000 after acquiring an additional 479,834 shares in the last quarter. Wellington Management Group LLP boosted its holdings in 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 purchasing an additional 13,313,817 shares in the last quarter. First Eagle Investment Management LLC increased its stake in Nutrien by 0.5% in the fourth quarter. First Eagle Investment Management LLC now owns 13,307,283 shares of the company’s stock valued at $821,326,000 after purchasing an additional 70,068 shares during the last quarter. Deutsche Bank AG increased its stake in Nutrien by 2.0% in the fourth quarter. Deutsche Bank AG now owns 9,798,196 shares of the company’s stock valued at $604,745,000 after purchasing an additional 189,683 shares during the last quarter. Finally, TD Asset Management Inc raised its holdings in Nutrien by 21.2% during the fourth quarter. TD Asset Management Inc now owns 8,928,534 shares of the company’s stock worth $551,821,000 after purchasing an additional 1,559,673 shares in the last quarter. 63.10% of the stock is owned by institutional investors and hedge funds.

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.