Raymond James Has Pessimistic View of Nutrien Q3 Earnings

Nutrien Ltd. (NYSE:NTR) – Research analysts at Raymond James dropped their Q3 2024 earnings estimates for shares of Nutrien in a research report issued on Monday, November 4th. Raymond James analyst S. Hansen now anticipates that the company will post earnings of $0.47 per share for the quarter, down from their prior estimate of $0.58. The consensus estimate for Nutrien’s current full-year earnings is $3.82 per share. Raymond James also issued estimates for Nutrien’s Q4 2024 earnings at $0.55 EPS, FY2024 earnings at $3.78 EPS and FY2025 earnings at $3.74 EPS.

Nutrien (NYSE:NTR) last announced its quarterly earnings data 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. Nutrien had a return on equity of 6.91% and a net margin of 2.97%. The company had revenue of $10.16 billion for the quarter, compared to the consensus estimate of $10.82 billion. During the same period in the previous year, the business earned $2.53 EPS. The firm’s revenue was down 12.9% compared to the same quarter last year.

A number of other research firms have also recently commented on NTR. Scotiabank reduced their price target on shares of Nutrien from $66.00 to $59.00 and set a “sector outperform” rating for the company in a report on Monday, August 12th. Wells Fargo & Company lowered Nutrien from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $62.00 to $50.00 in a research report on Tuesday, September 24th. Royal Bank of Canada reiterated an “outperform” rating and issued a $60.00 price target on shares of Nutrien in a report on Friday, September 20th. TD Securities reduced their price objective on Nutrien from $64.00 to $63.00 and set a “buy” rating for the company in a research note on Tuesday. Finally, Hsbc Global Res lowered Nutrien from a “hold” rating to a “moderate sell” rating in a research report on Friday, August 2nd. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $60.44.

Nutrien Price Performance

Nutrien stock opened at $49.49 on Tuesday. The stock’s 50 day moving average price is $47.97 and its two-hundred day moving average price is $50.65. The stock has a market capitalization of $24.44 billion, a price-to-earnings ratio of 30.93, a PEG ratio of 1.66 and a beta of 0.82. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.82 and a current ratio of 1.26. Nutrien has a 52-week low of $44.65 and a 52-week high of $60.87.

Hedge Funds Weigh In On Nutrien

A number of hedge funds and other institutional investors have recently modified their holdings of NTR. Natixis Advisors LLC lifted its holdings in Nutrien by 16.3% during the third quarter. Natixis Advisors LLC now owns 34,519 shares of the company’s stock worth $1,659,000 after acquiring an additional 4,832 shares during the period. Metis Global Partners LLC increased its position in shares of Nutrien by 51.3% during the 3rd quarter. Metis Global Partners LLC now owns 124,317 shares of the company’s stock valued at $5,974,000 after purchasing an additional 42,167 shares during the last quarter. MQS Management LLC bought a new stake in shares of Nutrien during the 3rd quarter worth $665,000. Entropy Technologies LP purchased a new position in shares of Nutrien in the 3rd quarter worth about $265,000. Finally, Meixler Investment Management Ltd. grew its position in Nutrien by 4.2% during the third quarter. Meixler Investment Management Ltd. now owns 7,159 shares of the company’s stock valued at $344,000 after buying an additional 288 shares during the period. 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.