Nutrien (NYSE:NTR) Price Target Raised to $66.00

Nutrien (NYSE:NTR) had its price objective lifted by CIBC from $64.00 to $66.00 in a research report released on Tuesday morning, Marketbeat reports. They currently have an outperformer rating on the stock.

Several other research analysts also recently issued reports on NTR. JPMorgan Chase & Co. upgraded shares of Nutrien from an “underweight” rating to a “neutral” rating and upped their price target for the stock from $40.00 to $50.00 in a report on Monday, January 13th. Piper Sandler upped their target price on Nutrien from $58.00 to $63.00 and gave the stock an “overweight” rating in a report on Monday, January 27th. Scotiabank lifted their price target on Nutrien from $60.00 to $62.00 and gave the company a “sector outperform” rating in a research note on Monday. Raymond James raised Nutrien from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $58.00 to $60.00 in a research note on Tuesday, December 3rd. Finally, TD Securities cut their target price 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. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $60.11.

Nutrien Trading Down 1.2 %

Shares of NTR opened at $52.56 on Tuesday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.82 and a current ratio of 1.27. Nutrien has a 52-week low of $43.69 and a 52-week high of $60.87. The firm has a market cap of $25.74 billion, a price-to-earnings ratio of 38.36, a PEG ratio of 1.19 and a beta of 0.81. The business’s fifty day moving average is $49.99 and its 200-day moving average is $48.41.

Nutrien (NYSE:NTR) last released its quarterly earnings data on Wednesday, February 19th. The company reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.09). The business had revenue of $5.08 billion during the quarter, compared to analyst estimates of $5.09 billion. Nutrien had a net margin of 2.62% and a return on equity of 6.81%. Equities analysts anticipate that Nutrien will post 3.72 EPS for the current fiscal year.

Nutrien Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Monday, March 31st will be paid a dividend of $0.545 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $2.18 annualized dividend and a yield of 4.15%. Nutrien’s dividend payout ratio is currently 159.12%.

Hedge Funds Weigh In On Nutrien

Several institutional investors have recently added to or reduced their stakes in the business. Fairway Wealth LLC acquired a new position in shares of Nutrien during the 4th quarter valued at $27,000. HHM Wealth Advisors LLC increased its stake in Nutrien by 331.0% in the fourth quarter. HHM Wealth Advisors LLC now owns 625 shares of the company’s stock valued at $28,000 after purchasing an additional 480 shares in the last quarter. Assetmark Inc. raised its holdings in shares of Nutrien by 1,437.5% during the fourth quarter. Assetmark Inc. now owns 738 shares of the company’s stock valued at $33,000 after purchasing an additional 690 shares during the period. Asset Planning Inc acquired a new position in shares of Nutrien during the fourth quarter valued at about $35,000. Finally, Exchange Traded Concepts LLC boosted its position in shares of Nutrien by 96.7% during the 4th quarter. Exchange Traded Concepts LLC now owns 846 shares of the company’s stock worth $38,000 after purchasing an additional 416 shares in the last quarter. 63.10% of the stock is owned by institutional investors and hedge funds.

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.