Nutrien (NYSE:NTR) Price Target Raised to $80.00

Nutrien (NYSE:NTR) had its price target lifted by JPMorgan Chase & Co. from $75.00 to $80.00 in a report published on Monday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

A number of other research analysts have also recently issued reports on the stock. Weiss Ratings cut shares of Nutrien from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, October 19th. KeyCorp began coverage on shares of Nutrien in a research report on Thursday, September 10th. They set a “sector weight” rating and a $73.00 price objective for the company. Mizuho cut their target price on Nutrien from $77.00 to $75.00 and set a “neutral” rating for the company in a research note on Tuesday, July 14th. BNP Paribas Exane upgraded Nutrien from a “neutral” rating to an “outperform” rating and set a $80.00 target price for the company in a research note on Tuesday, July 28th. Finally, Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Nutrien in a report on Monday, August 10th. Sixteen analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Nutrien presently has a consensus rating of “Moderate Buy” and a consensus price target of $79.14.

Nutrien Trading Down 0.7%

NTR opened at $71.65 on Monday. Nutrien has a twelve month low of $54.52 and a twelve month high of $85.36. The company has a 50-day simple moving average of $72.64 and a 200 day simple moving average of $71.15. The company has a quick ratio of 0.89, a current ratio of 1.41 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $34.05 billion, a price-to-earnings ratio of 17.02, a P/E/G ratio of 0.80 and a beta of 0.67.

Nutrien (NYSE:NTR) last announced its quarterly earnings data on Wednesday, November 4th. The company reported $0.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.13). Nutrien had a return on equity of 8.00% and a net margin of 7.78%. The firm had revenue of $5.69 billion for the quarter, compared to analyst estimates of $5.66 billion. During the same quarter in the previous year, the company earned $0.97 earnings per share. The company’s quarterly revenue was up .9% on a year-over-year basis. Analysts predict that Nutrien will post 4.53 EPS for the current fiscal year.

Nutrien Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 15th. Stockholders of record on Thursday, December 31st will be issued a $0.55 dividend. The ex-dividend date of this dividend is Thursday, December 31st. This represents a $2.20 dividend on an annualized basis and a dividend yield of 3.1%. Nutrien’s dividend payout ratio is 48.03%.

Institutional Investors Weigh In On Nutrien

A number of hedge funds have recently made changes to their positions in the stock. Wellington Management Group LLP bought a new stake in shares of Nutrien during the 2nd quarter valued at approximately $654,081,000. Deutsche Bank AG acquired a new stake in Nutrien in the second quarter valued at approximately $588,720,000. TD Waterhouse Canada Inc. boosted its position in Nutrien by 10.5% in the third quarter. TD Waterhouse Canada Inc. now owns 6,096,905 shares of the company’s stock valued at $424,331,000 after buying an additional 578,470 shares in the last quarter. The Manufacturers Life Insurance Company acquired a new stake in Nutrien in the second quarter valued at approximately $375,178,000. Finally, Dimensional Fund Advisors LP grew its stake in shares of Nutrien by 4.3% during the first quarter. Dimensional Fund Advisors LP now owns 5,872,194 shares of the company’s stock worth $443,151,000 after buying an additional 239,946 shares during the last quarter. 63.10% of the stock is currently owned by institutional investors and hedge funds.

Nutrien Company Profile

Nutrien Ltd. is a Canadian agricultural inputs and services company headquartered in Saskatoon, Saskatchewan. Formed in 2018 through the merger of Agrium and Potash Corporation of Saskatchewan, it serves farmers and other customers through fertilizer production and agricultural retail operations. The company produces potash, nitrogen and phosphate fertilizers, which are used to support crop growth. It also sells crop protection products and seeds, and provides growers with agronomic advice and other services.