Nutrien Ltd. (NYSE:NTR) Declares $0.54 Quarterly Dividend

Nutrien Ltd. (NYSE:NTR) declared a quarterly dividend on Wednesday, May 8th, Zacks reports. Shareholders of record on Friday, June 28th will be given a dividend of 0.54 per share on Friday, July 19th. This represents a $2.16 dividend on an annualized basis and a yield of 3.68%. The ex-dividend date of this dividend is Friday, June 28th.

Nutrien has increased its dividend payment by an average of 5.6% annually over the last three years and has increased its dividend every year for the last 4 years. Nutrien has a dividend payout ratio of 51.7% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Nutrien to earn $3.91 per share next year, which means the company should continue to be able to cover its $2.16 annual dividend with an expected future payout ratio of 55.2%.

Nutrien Stock Up 1.0 %

Shares of NTR stock traded up $0.56 during trading hours on Friday, reaching $58.73. The company had a trading volume of 213,465 shares, compared to its average volume of 1,953,157. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.17 and a quick ratio of 0.65. The company has a market cap of $29.05 billion, a price-to-earnings ratio of 23.00, a price-to-earnings-growth ratio of 1.98 and a beta of 0.88. The business has a fifty day simple moving average of $53.44 and a 200-day simple moving average of $53.63. Nutrien has a 12 month low of $47.90 and a 12 month high of $69.12.

Nutrien (NYSE:NTR) last released its quarterly earnings results on Wednesday, February 21st. The company reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.35). Nutrien had a net margin of 4.33% and a return on equity of 8.59%. The firm had revenue of $5.66 billion for the quarter, compared to the consensus estimate of $5.36 billion. During the same period in the previous year, the business earned $2.02 earnings per share. The firm’s revenue for the quarter was down 24.8% on a year-over-year basis. On average, research analysts expect that Nutrien will post 3.82 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on NTR shares. BMO Capital Markets cut their price objective on Nutrien from $86.00 to $80.00 and set an “outperform” rating on the stock in a research report on Thursday, January 25th. TD Securities dropped their target price on shares of Nutrien from $75.00 to $67.00 and set a “buy” rating on the stock in a research note on Tuesday, February 20th. Wolfe Research started coverage on shares of Nutrien in a research note on Friday, March 1st. They set an “outperform” rating and a $66.00 price target for the company. HSBC dropped their price objective on Nutrien from $63.00 to $57.00 and set a “hold” rating on the stock in a research note on Friday, March 8th. Finally, Piper Sandler downgraded Nutrien from a “neutral” rating to an “underweight” rating and cut their price target for the stock from $68.00 to $54.00 in a research note on Thursday, February 29th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $67.50.

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.