Brokerages Set Nutrien Ltd. (NYSE:NTR) Target Price at $58.39

Nutrien Ltd. (NYSE:NTR) has been given a consensus rating of “Moderate Buy” by the seventeen brokerages that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and ten have assigned a buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $58.39.

NTR has been the subject of a number of recent analyst reports. Piper Sandler raised shares of Nutrien from an “underweight” rating to an “overweight” rating and increased their target price for the company from $50.00 to $58.00 in a research report on Monday, January 13th. JPMorgan Chase & Co. raised shares of Nutrien from an “underweight” rating to a “neutral” rating and lifted their target price for the stock from $40.00 to $50.00 in a research note on Monday, January 13th. TD Securities cut their price target on shares of Nutrien from $63.00 to $61.00 and set a “buy” rating on the stock in a research report on Tuesday, November 12th. Barclays reissued an “equal weight” rating and issued a $56.00 price objective (up from $55.00) on shares of Nutrien in a research report on Tuesday, January 21st. Finally, Raymond James upgraded Nutrien from a “market perform” rating to an “outperform” rating and upped their target price for the company from $58.00 to $60.00 in a research report on Tuesday, December 3rd.

Nutrien Stock Performance

Shares of Nutrien stock opened at $52.79 on Thursday. The stock has a market cap of $25.93 billion, a price-to-earnings ratio of 35.43, a P/E/G ratio of 1.17 and a beta of 0.81. Nutrien has a twelve month low of $43.69 and a twelve month high of $60.87. The company’s fifty day moving average is $47.61 and its 200 day moving average is $47.99. The company has a quick ratio of 0.82, a current ratio of 1.27 and a debt-to-equity ratio of 0.38.

Nutrien (NYSE:NTR) last announced its earnings results on Wednesday, November 6th. The company reported $0.39 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.04). The company had revenue of $5.35 billion for the quarter, compared to analyst estimates of $5.26 billion. Nutrien had a return on equity of 6.99% and a net margin of 2.79%. The firm’s quarterly revenue was down 5.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.35 earnings per share. Sell-side analysts forecast that Nutrien will post 3.5 EPS for the current year.

Nutrien Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Tuesday, December 31st were paid a $0.939 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 7.11%. This is a positive change from Nutrien’s previous quarterly dividend of $0.54. The ex-dividend date was Tuesday, December 31st. Nutrien’s dividend payout ratio (DPR) is 144.97%.

Institutional Investors Weigh In On Nutrien

Several hedge funds and other institutional investors have recently made changes to their positions in NTR. Goodman Financial Corp boosted its stake in Nutrien by 4.6% during the 3rd quarter. Goodman Financial Corp now owns 253,860 shares of the company’s stock valued at $12,201,000 after purchasing an additional 11,058 shares during the last quarter. CORDA Investment Management LLC. boosted its position in shares of Nutrien by 7.0% during the third quarter. CORDA Investment Management LLC. now owns 494,745 shares of the company’s stock valued at $23,777,000 after buying an additional 32,541 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Nutrien by 10.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,742,351 shares of the company’s stock worth $83,812,000 after buying an additional 157,932 shares in the last quarter. Cardinal Capital Management Inc. raised its position in Nutrien by 4.3% in the 3rd quarter. Cardinal Capital Management Inc. now owns 564,078 shares of the company’s stock valued at $27,139,000 after buying an additional 23,117 shares during the last quarter. Finally, Stephens Inc. AR lifted its stake in Nutrien by 335.0% during the 3rd quarter. Stephens Inc. AR now owns 70,301 shares of the company’s stock valued at $3,379,000 after acquiring an additional 54,138 shares in the last quarter. 63.10% of the stock is 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.