Nutrien (TSE:NTR) Stock Price Up 2.9% – Here’s What Happened

Nutrien Ltd. (TSE:NTR)’s stock price shot up 2.9% on Tuesday. The stock traded as high as C$99.26 and last traded at C$99.16. Approximately 2,411,231 shares traded hands during trading, an increase of 38% from the average daily volume of 1,751,807 shares. The stock had previously closed at C$96.33.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on NTR shares. Jefferies Financial Group downgraded Nutrien from a “buy” rating to a “hold” rating and reduced their price target for the stock from C$96.00 to C$63.00 in a report on Thursday, July 16th. National Bank Financial downgraded Nutrien from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 25th. Scotiabank raised shares of Nutrien from a “hold” rating to a “sector outperform” rating and set a C$80.00 target price for the company in a research note on Tuesday, June 30th. KeyCorp upgraded shares of Nutrien to a “hold” rating in a report on Thursday, September 10th. Finally, BNP Paribas Exane raised Nutrien from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 28th. Three research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of C$74.33.

Nutrien Stock Performance

The business’s 50-day moving average price is C$102.11 and its 200-day moving average price is C$98.42. The company has a current ratio of 1.39, a quick ratio of 0.65 and a debt-to-equity ratio of 49.14. The stock has a market cap of C$47.32 billion, a PE ratio of 20.07, a P/E/G ratio of 1.15 and a beta of 0.69.

Nutrien (TSE:NTR) last issued its quarterly earnings results on Wednesday, August 5th. The company reported C$3.71 earnings per share (EPS) for the quarter. Nutrien had a return on equity of 9.27% and a net margin of 8.44%. The business had revenue of C$15.36 billion for the quarter. As a group, equities research analysts expect that Nutrien Ltd. will post 5.34 earnings per share for the current fiscal year.

Nutrien Company Profile

Nutrien is a leading global provider of crop inputs and services. We operate a world-class network of production, distribution and ag retail facilities that positions us to efficiently serve the needs of growers. We focus on creating long-term value by prioritizing investments that strengthen the advantages of our business across the ag value chain and by maintaining access to the resources and the relationships with stakeholders needed to achieve our goals.