Nutrien’s (NTR) “Outperform” Rating Reiterated at Royal Bank of Canada

Nutrien (NYSE:NTR)‘s stock had its “outperform” rating reaffirmed by equities researchers at Royal Bank of Canada in a research report issued to clients and investors on Friday, Benzinga reports. They presently have a $60.00 target price on the stock. Royal Bank of Canada’s price target would indicate a potential upside of 25.26% from the stock’s previous close.

Several other equities research analysts have also recently issued reports on the company. BMO Capital Markets decreased their price objective on Nutrien from $80.00 to $75.00 and set an “outperform” rating on the stock in a report on Friday, August 9th. Scotiabank cut their price objective on shares of Nutrien from $66.00 to $59.00 and set a “sector outperform” rating on the stock in a report on Monday, August 12th. Wells Fargo & Company decreased their price objective on shares of Nutrien from $68.00 to $66.00 and set an “overweight” rating for the company in a report on Tuesday, July 16th. Barclays lowered their price target on shares of Nutrien from $68.00 to $55.00 and set an “overweight” rating for the company in a research report on Friday, August 16th. Finally, HSBC lowered shares of Nutrien from a “hold” rating to a “reduce” rating in a research report on Friday, August 2nd. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Nutrien presently has a consensus rating of “Hold” and an average target price of $62.39.

Nutrien Stock Up 2.3 %

Shares of NYSE:NTR opened at $47.90 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.26 and a quick ratio of 0.82. Nutrien has a 1-year low of $44.65 and a 1-year high of $64.29. The firm has a fifty day moving average price of $48.05 and a 200 day moving average price of $51.88. The stock has a market cap of $23.70 billion, a P/E ratio of 28.01, a P/E/G ratio of 1.51 and a beta of 0.82.

Nutrien (NYSE:NTR) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $2.34 earnings per share for the quarter, topping analysts’ consensus estimates of $2.19 by $0.15. The firm had revenue of $10.16 billion for the quarter, compared to analyst estimates of $10.82 billion. Nutrien had a return on equity of 6.91% and a net margin of 2.97%. Nutrien’s quarterly revenue was down 12.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.53 earnings per share. Sell-side analysts predict that Nutrien will post 3.81 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Lester Murray Antman dba SimplyRich lifted its holdings in shares of Nutrien by 2.3% during the 2nd quarter. Lester Murray Antman dba SimplyRich now owns 9,069 shares of the company’s stock worth $461,000 after acquiring an additional 202 shares during the period. Lindbrook Capital LLC raised its position in shares of Nutrien by 21.4% during the first quarter. Lindbrook Capital LLC now owns 1,179 shares of the company’s stock worth $64,000 after acquiring an additional 208 shares during the last quarter. Moody National Bank Trust Division raised its stake in Nutrien by 1.7% during the first quarter. Moody National Bank Trust Division now owns 12,582 shares of the company’s stock worth $683,000 after buying an additional 208 shares during the last quarter. FFT Wealth Management LLC lifted its stake in shares of Nutrien by 0.8% in the 2nd quarter. FFT Wealth Management LLC now owns 29,220 shares of the company’s stock valued at $1,488,000 after purchasing an additional 220 shares during the period. Finally, Covestor Ltd lifted its stake in Nutrien by 33.3% in the first quarter. Covestor Ltd now owns 932 shares of the company’s stock valued at $50,000 after buying an additional 233 shares during the period. 63.10% of the stock is owned by institutional investors and hedge funds.

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.