Nutrien (NYSE:NTR) Price Target Increased to $56.00 by Analysts at Mizuho

Nutrien (NYSE:NTR) had its price objective upped by Mizuho from $54.00 to $56.00 in a research note published on Friday morning, Marketbeat Ratings reports. They currently have an underweight rating on the stock.

Other equities research analysts have also recently issued reports about the company. Royal Bank of Canada decreased their price objective on Nutrien from $75.00 to $70.00 and set an outperform rating for the company in a research note on Friday, February 23rd. Piper Sandler upped their price objective on Nutrien from $54.00 to $56.00 and gave the stock an underweight rating in a research note on Friday. TD Securities cut their price objective on Nutrien from $75.00 to $67.00 and set a buy rating on the stock in a report on Tuesday, February 20th. BMO Capital Markets dropped their target price on Nutrien from $86.00 to $80.00 and set an outperform rating on the stock in a report on Thursday, January 25th. Finally, Berenberg Bank raised Nutrien from a hold rating to a buy rating and raised their target price for the stock from $60.00 to $66.00 in a report on Monday, April 29th. Three analysts have rated the stock with a sell rating, four have given a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of Hold and an average target price of $67.32.

Nutrien Price Performance

NYSE:NTR traded up $0.59 during trading hours on Friday, reaching $57.76. The stock had a trading volume of 1,151,523 shares, compared to its average volume of 1,602,391. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.53 and a current ratio of 1.15. Nutrien has a 52 week low of $47.90 and a 52 week high of $69.12. The company has a 50 day moving average price of $54.20 and a two-hundred day moving average price of $53.72. The stock has a market capitalization of $28.57 billion, a PE ratio of 33.77, a PEG ratio of 1.87 and a beta of 0.88.

Nutrien (NYSE:NTR) last released its earnings results on Wednesday, February 21st. The company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.72 by ($0.35). The company had revenue of $5.66 billion for the quarter, compared to the consensus estimate of $5.36 billion. Nutrien had a net margin of 3.01% and a return on equity of 7.31%. The business’s revenue for the quarter was down 24.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.02 EPS. As a group, sell-side analysts anticipate that Nutrien will post 3.82 earnings per share for the current fiscal year.

Nutrien Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 19th. Investors of record on Friday, June 28th will be given a dividend of $0.54 per share. The ex-dividend date is Friday, June 28th. This represents a $2.16 dividend on an annualized basis and a yield of 3.74%. Nutrien’s payout ratio is 126.32%.

Hedge Funds Weigh In On Nutrien

Institutional investors have recently added to or reduced their stakes in the stock. Platinum Investment Management Ltd. acquired a new stake in shares of Nutrien in the 3rd quarter worth approximately $129,000. D.B. Root & Company LLC grew its stake in Nutrien by 2.1% during the 3rd quarter. D.B. Root & Company LLC now owns 20,638 shares of the company’s stock worth $1,275,000 after buying an additional 418 shares during the last quarter. Canoe Financial LP raised its holdings in shares of Nutrien by 64.6% during the third quarter. Canoe Financial LP now owns 75,945 shares of the company’s stock valued at $4,690,000 after buying an additional 29,819 shares during the last quarter. Signaturefd LLC increased its position in Nutrien by 42.7% in the 3rd quarter. Signaturefd LLC now owns 9,584 shares of the company’s stock valued at $592,000 after acquiring an additional 2,870 shares during the period. Finally, NBC Securities Inc. acquired a new stake in Nutrien in the third quarter worth about $58,000. Hedge funds and other institutional investors own 63.10% of the company’s stock.

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.