Nutrien Ltd. (NYSE:NTR) Increases Dividend to $0.94 Per Share

Nutrien Ltd. (NYSE:NTR) announced a quarterly dividend on Wednesday, November 6th,Zacks Dividends reports. Investors of record on Tuesday, December 31st will be paid a dividend of 0.939 per share on Friday, January 17th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 8.48%. The ex-dividend date is Tuesday, December 31st. This is a boost from Nutrien’s previous quarterly dividend of $0.54.

Nutrien has increased its dividend payment by an average of 5.6% annually over the last three years. Nutrien has a payout ratio of 60.8% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Nutrien to earn $3.64 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 59.3%.

Nutrien Price Performance

Shares of NTR stock opened at $44.31 on Friday. The firm has a fifty day moving average of $47.11 and a two-hundred day moving average of $48.22. The firm has a market cap of $21.82 billion, a P/E ratio of 29.74, a P/E/G ratio of 1.73 and a beta of 0.80. Nutrien has a 1-year low of $43.75 and a 1-year high of $60.87. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.27 and a quick ratio of 0.82.

Nutrien (NYSE:NTR) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.04). The firm had revenue of $5.35 billion during the quarter, compared to the consensus estimate of $5.26 billion. Nutrien had a net margin of 2.79% and a return on equity of 6.99%. The firm’s quarterly revenue was down 5.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.35 earnings per share. As a group, research analysts anticipate that Nutrien will post 3.5 earnings per share for the current fiscal year.

Analyst Ratings Changes

NTR has been the topic of several research reports. CIBC reiterated an “outperformer” rating and set a $55.00 price objective (down previously from $60.00) on shares of Nutrien in a research note on Tuesday, December 10th. Wells Fargo & Company downgraded Nutrien from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $62.00 to $50.00 in a research note on Tuesday, September 24th. TD Securities lowered their price target on shares of Nutrien from $63.00 to $61.00 and set a “buy” rating for the company in a research report on Tuesday, November 12th. UBS Group lowered shares of Nutrien from a “buy” rating to a “neutral” rating and reduced their target price for the company from $66.00 to $51.00 in a research note on Thursday, October 10th. Finally, Oppenheimer assumed coverage on Nutrien in a report on Thursday, December 12th. They set an “outperform” rating and a $60.00 price target on the stock. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $58.95.

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.