Nutrien (NYSE:NTR) Price Target Cut to $61.00 by Analysts at TD Securities

Nutrien (NYSE:NTR) had its price objective trimmed by TD Securities from $63.00 to $61.00 in a research report report published on Tuesday,BayStreet.CA reports. They currently have a buy rating on the stock.

Several other brokerages also recently commented on NTR. Mizuho reduced their target price on Nutrien from $55.00 to $52.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. Wells Fargo & Company cut Nutrien from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $62.00 to $50.00 in a report on Tuesday, September 24th. UBS Group cut Nutrien from a “buy” rating to a “neutral” rating and cut their price target for the company from $66.00 to $51.00 in a report on Thursday, October 10th. The Goldman Sachs Group downgraded Nutrien from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $69.00 to $53.00 in a report on Tuesday, September 10th. Finally, Barclays cut their target price on shares of Nutrien from $68.00 to $55.00 and set an “overweight” rating on the stock in a research report on Friday, August 16th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $60.33.

Nutrien Stock Down 0.9 %

NYSE NTR opened at $46.37 on Tuesday. Nutrien has a 1-year low of $44.65 and a 1-year high of $60.87. The company has a current ratio of 1.27, a quick ratio of 0.82 and a debt-to-equity ratio of 0.38. The stock’s 50 day moving average is $47.99 and its two-hundred day moving average is $50.50. The company has a market capitalization of $22.90 billion, a price-to-earnings ratio of 31.12, a PEG ratio of 1.60 and a beta of 0.82.

Nutrien (NYSE:NTR) last announced its earnings results on Wednesday, November 6th. The company reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.04). Nutrien had a return on equity of 6.99% and a net margin of 2.79%. The firm had revenue of $5.35 billion for the quarter, compared to analyst estimates of $5.26 billion. During the same quarter last year, the business earned $0.35 EPS. The company’s revenue for the quarter was down 5.0% compared to the same quarter last year. Equities analysts forecast that Nutrien will post 3.65 earnings per share for the current fiscal year.

Nutrien Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Tuesday, December 31st will be paid a dividend of $0.939 per share. This is an increase from Nutrien’s previous quarterly dividend of $0.54. This represents a $3.76 annualized dividend and a dividend yield of 8.10%. The ex-dividend date of this dividend is Tuesday, December 31st. Nutrien’s payout ratio is currently 144.97%.

Hedge Funds Weigh In On Nutrien

Several institutional investors and hedge funds have recently made changes to their positions in the company. Central Pacific Bank Trust Division acquired a new position in Nutrien in the third quarter valued at about $28,000. Family Firm Inc. acquired a new position in shares of Nutrien in the 2nd quarter valued at approximately $32,000. Trust Co. of Vermont lifted its holdings in shares of Nutrien by 50.0% during the 2nd quarter. Trust Co. of Vermont now owns 900 shares of the company’s stock worth $46,000 after acquiring an additional 300 shares during the period. Covestor Ltd boosted its position in shares of Nutrien by 33.3% during the 1st quarter. Covestor Ltd now owns 932 shares of the company’s stock worth $50,000 after acquiring an additional 233 shares in the last quarter. Finally, Andra AP fonden bought a new position in Nutrien in the second quarter valued at approximately $51,000. Institutional investors and hedge funds own 63.10% of the company’s stock.

About Nutrien

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.