Nutrien Ltd. Announces Quarterly Dividend of $0.54 (NYSE:NTR)

Nutrien Ltd. (NYSE:NTR) announced a quarterly dividend on Wednesday, August 7th, Zacks reports. Shareholders of record on Friday, September 27th will be paid a dividend of 0.54 per share on Friday, October 18th. This represents a $2.16 dividend on an annualized basis and a yield of 4.58%. The ex-dividend date is Friday, September 27th.

Nutrien has raised its dividend payment by an average of 5.6% per year over the last three years and has raised its dividend every year for the last 6 years. Nutrien has a dividend payout ratio of 57.6% meaning its dividend is sufficiently covered by earnings. Analysts expect Nutrien to earn $3.80 per share next year, which means the company should continue to be able to cover its $2.16 annual dividend with an expected future payout ratio of 56.8%.

Nutrien Price Performance

Shares of Nutrien stock opened at $47.20 on Thursday. The company has a current ratio of 1.26, a quick ratio of 0.82 and a debt-to-equity ratio of 0.37. The firm has a fifty day simple moving average of $47.88 and a 200-day simple moving average of $51.78. The stock has a market capitalization of $23.36 billion, a price-to-earnings ratio of 27.60, a PEG ratio of 1.55 and a beta of 0.82. Nutrien has a 1-year low of $44.65 and a 1-year high of $63.60.

Nutrien (NYSE:NTR) last released its quarterly earnings results on Wednesday, August 7th. The company reported $2.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.19 by $0.15. The company had revenue of $10.16 billion during the quarter, compared to analysts’ expectations of $10.82 billion. Nutrien had a net margin of 2.97% and a return on equity of 6.91%. The business’s quarterly revenue was down 12.9% compared to the same quarter last year. During the same period in the prior year, the company earned $2.53 earnings per share. On average, sell-side analysts expect that Nutrien will post 3.83 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Wells Fargo & Company lowered Nutrien from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $62.00 to $50.00 in a report on Tuesday. BMO Capital Markets reduced their price target on shares of Nutrien from $80.00 to $75.00 and set an “outperform” rating for the company in a report on Friday, August 9th. The Goldman Sachs Group lowered shares of Nutrien from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $69.00 to $53.00 in a research report on Tuesday, September 10th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $60.00 price objective on shares of Nutrien in a research report on Friday, September 20th. Finally, TD Securities decreased their target price on Nutrien from $69.00 to $67.00 and set a “buy” rating on the stock in a research report on Thursday, August 1st. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $61.50.

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.