Zacks: Brokerages Expect Nutrien Ltd (NYSE:NTR) Will Announce Quarterly Sales of $8.70 Billion

Wall Street analysts forecast that Nutrien Ltd (NYSE:NTR) will post sales of $8.70 billion for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for Nutrien’s earnings. The highest sales estimate is $8.97 billion and the lowest is $8.31 billion. Nutrien posted sales of $8.66 billion in the same quarter last year, which suggests a positive year over year growth rate of 0.5%. The company is scheduled to issue its next quarterly earnings results on Monday, August 3rd.

On average, analysts expect that Nutrien will report full-year sales of $20.40 billion for the current year, with estimates ranging from $19.49 billion to $21.79 billion. For the next year, analysts expect that the company will post sales of $21.14 billion, with estimates ranging from $20.00 billion to $23.00 billion. Zacks’ sales averages are an average based on a survey of analysts that follow Nutrien.

Nutrien (NYSE:NTR) last issued its quarterly earnings data on Wednesday, May 6th. The company reported ($0.12) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.04) by ($0.08). Nutrien had a return on equity of 4.66% and a net margin of 4.49%. The business had revenue of $4.19 billion during the quarter, compared to the consensus estimate of $3.44 billion. During the same quarter last year, the company earned $0.20 EPS. Nutrien’s revenue for the quarter was up 12.6% on a year-over-year basis.

Several equities analysts have recently weighed in on the stock. Royal Bank of Canada reiterated a “buy” rating and issued a $45.00 price objective on shares of Nutrien in a research note on Sunday, May 10th. JPMorgan Chase & Co. lowered their price objective on shares of Nutrien from $44.00 to $40.00 and set an “overweight” rating on the stock in a research note on Friday, June 19th. Morgan Stanley lowered their price objective on shares of Nutrien from $49.00 to $36.00 and set an “equal weight” rating on the stock in a research note on Monday, March 30th. Credit Suisse Group increased their price objective on shares of Nutrien from $41.00 to $44.00 and gave the stock a “neutral” rating in a research note on Friday, May 8th. Finally, Raymond James set a $48.00 target price on shares of Nutrien and gave the stock a “strong-buy” rating in a report on Thursday, May 7th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Nutrien has an average rating of “Buy” and an average target price of $49.48.

A number of institutional investors and hedge funds have recently made changes to their positions in NTR. State Street Corp grew its holdings in shares of Nutrien by 1.5% in the fourth quarter. State Street Corp now owns 982,026 shares of the company’s stock valued at $47,491,000 after purchasing an additional 14,421 shares in the last quarter. Sowell Financial Services LLC grew its holdings in shares of Nutrien by 3,818.8% in the fourth quarter. Sowell Financial Services LLC now owns 3,331 shares of the company’s stock valued at $160,000 after purchasing an additional 3,246 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Nutrien by 5.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 37,406 shares of the company’s stock valued at $1,792,000 after purchasing an additional 1,946 shares in the last quarter. Oppenheimer & Co. Inc. grew its holdings in shares of Nutrien by 14.2% in the fourth quarter. Oppenheimer & Co. Inc. now owns 10,063 shares of the company’s stock valued at $482,000 after purchasing an additional 1,253 shares in the last quarter. Finally, M&T Bank Corp grew its holdings in shares of Nutrien by 12.8% in the fourth quarter. M&T Bank Corp now owns 37,830 shares of the company’s stock valued at $1,798,000 after purchasing an additional 4,307 shares in the last quarter. 62.15% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE:NTR traded up $0.07 during trading on Monday, hitting $32.65. The company’s stock had a trading volume of 1,914,115 shares, compared to its average volume of 1,893,677. The company has a 50-day moving average of $34.83 and a 200-day moving average of $38.83. Nutrien has a 12 month low of $23.85 and a 12 month high of $55.25. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.07 and a quick ratio of 0.59. The firm has a market cap of $18.82 billion, a price-to-earnings ratio of 20.80, a P/E/G ratio of 2.50 and a beta of 0.87.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 17th. Shareholders of record on Tuesday, June 30th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 5.51%. The ex-dividend date is Monday, June 29th. Nutrien’s dividend payout ratio (DPR) is currently 82.95%.

Nutrien Company Profile

Nutrien Ltd. produces and markets crop nutrients to agricultural, industrial, and feed customers worldwide. It operates in four segments: Retail, Potash, Nitrogen, and Phosphate and Sulfate. The company offers potash, nitrogen, phosphate, and sulfate products. It also distributes crop nutrients, crop protection products, seeds, and merchandise products through operating 1,700 retail locations.

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