Bank of America Issues Positive Forecast for Nutrien (NYSE:NTR) Stock Price

Nutrien (NYSE:NTR) had its price target lifted by Bank of America from $75.00 to $81.00 in a report published on Wednesday,Benzinga reports. Bank of America currently has a neutral rating on the stock.

NTR has been the topic of several other research reports. TD Securities raised their price target on shares of Nutrien from $80.00 to $81.00 and gave the company a “buy” rating in a research report on Tuesday, February 17th. Barclays upped their price objective on shares of Nutrien from $70.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 3rd. Scotiabank increased their target price on shares of Nutrien from $63.00 to $70.00 and gave the stock a “sector perform” rating in a research note on Monday, February 2nd. Weiss Ratings upgraded Nutrien from a “hold (c)” rating to a “buy (b-)” rating in a research report on Monday, March 2nd. Finally, UBS Group lifted their price target on Nutrien from $58.00 to $63.00 and gave the company a “neutral” rating in a research note on Monday, January 12th. Eleven equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Nutrien currently has an average rating of “Hold” and an average target price of $77.11.

Nutrien Trading Down 2.1%

Shares of NYSE:NTR opened at $77.92 on Wednesday. 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 has a 12-month low of $45.78 and a 12-month high of $85.36. The business has a 50 day moving average of $71.26 and a two-hundred day moving average of $63.06. The company has a market capitalization of $37.48 billion, a PE ratio of 16.72 and a beta of 0.70.

Nutrien (NYSE:NTR) last issued its quarterly earnings data on Wednesday, February 18th. The company reported $0.83 EPS for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.04). The firm had revenue of $5.12 billion for the quarter, compared to analyst estimates of $5.26 billion. Nutrien had a return on equity of 8.41% and a net margin of 8.43%.Nutrien’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.31 EPS. As a group, analysts forecast 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. Shareholders of record on Tuesday, March 31st will be given a dividend of $0.55 per share. This is a boost from Nutrien’s previous quarterly dividend of $0.55. This represents a $2.20 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date is Tuesday, March 31st. Nutrien’s dividend payout ratio (DPR) is currently 46.78%.

Institutional Trading of Nutrien

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