Nutrien (NYSE:NTR) Given New $59.00 Price Target at Scotiabank

Nutrien (NYSE:NTR) had its price target trimmed by Scotiabank from $66.00 to $59.00 in a research report sent to investors on Monday, Benzinga reports. The brokerage currently has a sector outperform rating on the stock.

Other research analysts also recently issued reports about the stock. Royal Bank of Canada reduced their target price on shares of Nutrien from $70.00 to $60.00 and set an outperform rating for the company in a research report on Monday, July 15th. BMO Capital Markets reduced their price objective on Nutrien from $80.00 to $75.00 and set an outperform rating for the company in a report on Friday. HSBC lowered Nutrien from a hold rating to a reduce rating in a research note on Friday, August 2nd. Hsbc Global Res downgraded Nutrien from a hold rating to a moderate sell rating in a research note on Friday, August 2nd. Finally, TD Securities decreased their price objective on Nutrien from $69.00 to $67.00 and set a buy rating for the company in a report on Thursday, August 1st. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average target price of $64.50.

Nutrien Stock Performance

Shares of Nutrien stock opened at $46.33 on Monday. The firm has a market capitalization of $22.92 billion, a P/E ratio of 26.99, a price-to-earnings-growth ratio of 1.56 and a beta of 0.83. The company has a current ratio of 1.15, a quick ratio of 0.53 and a debt-to-equity ratio of 0.36. The business’s fifty day simple moving average is $50.73 and its 200 day simple moving average is $52.68. Nutrien has a 12 month low of $44.90 and a 12 month high of $65.69.

Nutrien (NYSE:NTR) last released its earnings results on Wednesday, August 7th. The company reported $2.34 EPS for the quarter, topping analysts’ consensus estimates of $2.19 by $0.15. The company had revenue of $10.16 billion for the quarter, compared to analysts’ expectations of $10.82 billion. Nutrien had a return on equity of 7.31% and a net margin of 3.01%. The business’s revenue for the quarter was down 12.9% compared to the same quarter last year. During the same period in the previous year, the business posted $2.53 EPS. As a group, analysts anticipate that Nutrien will post 3.78 EPS for the current year.

Nutrien Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 18th. Stockholders of record on Friday, September 27th will be given a dividend of $0.54 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 4.66%. Nutrien’s dividend payout ratio (DPR) is currently 126.32%.

Hedge Funds Weigh In On Nutrien

Institutional investors have recently added to or reduced their stakes in the business. Family Firm Inc. bought a new stake in shares of Nutrien during the 2nd quarter valued at about $32,000. GoalVest Advisory LLC purchased a new stake in Nutrien in the first quarter valued at approximately $35,000. Trust Co. of Vermont lifted its position in Nutrien by 50.0% during the second quarter. Trust Co. of Vermont now owns 900 shares of the company’s stock valued at $46,000 after purchasing an additional 300 shares during the last quarter. Evolution Advisers Inc. purchased a new position in Nutrien in the 4th quarter worth approximately $49,000. Finally, Covestor Ltd increased its holdings in shares of Nutrien by 33.3% in the 1st quarter. Covestor Ltd now owns 932 shares of the company’s stock worth $50,000 after buying an additional 233 shares during the last quarter. 63.10% of the stock is currently owned by institutional investors.

Nutrien Company Profile

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.