Analysts Set Nutrien Ltd. (NYSE:NTR) Price Target at $58.95

Shares of Nutrien Ltd. (NYSE:NTR) have earned a consensus recommendation of “Hold” from the eighteen brokerages that are currently covering the stock, MarketBeat reports. Three research analysts have rated the stock with a sell rating, four have given a hold rating and eleven have given a buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $58.95.

Several research analysts have issued reports on NTR shares. Raymond James upgraded shares of Nutrien from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $58.00 to $60.00 in a report on Tuesday, December 3rd. Wells Fargo & Company downgraded shares of Nutrien from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $62.00 to $50.00 in a research note on Tuesday, September 24th. CIBC reaffirmed an “outperformer” rating and set a $55.00 price target (down previously from $60.00) on shares of Nutrien in a research report on Tuesday, December 10th. The Goldman Sachs Group lowered Nutrien from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $69.00 to $53.00 in a research report on Tuesday, September 10th. Finally, TD Securities cut their target price on Nutrien from $63.00 to $61.00 and set a “buy” rating on the stock in a research report on Tuesday, November 12th.

Nutrien Stock Up 1.3 %

NYSE:NTR opened at $44.75 on Friday. Nutrien has a one year low of $43.69 and a one 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. The company has a market cap of $22.03 billion, a PE ratio of 30.03, a P/E/G ratio of 1.73 and a beta of 0.80. The firm’s 50 day simple moving average is $46.98 and its 200 day simple moving average is $48.10.

Nutrien (NYSE:NTR) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.39 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.04). The business had revenue of $5.35 billion for the quarter, compared to analyst estimates of $5.26 billion. Nutrien had a return on equity of 6.99% and a net margin of 2.79%. Nutrien’s revenue for the quarter was down 5.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.35 EPS. On average, research analysts anticipate that Nutrien will post 3.5 earnings per share for the current year.

Nutrien Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Tuesday, December 31st will be paid a $0.939 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This is an increase from Nutrien’s previous quarterly dividend of $0.54. This represents a $3.76 annualized dividend and a dividend yield of 8.39%. Nutrien’s dividend payout ratio is 144.97%.

Institutional Investors Weigh In On Nutrien

Institutional investors and hedge funds have recently bought and sold shares of the stock. Central Pacific Bank Trust Division bought a new stake in Nutrien in the 3rd quarter worth about $28,000. Andra AP fonden purchased a new stake in shares of Nutrien during the second quarter valued at approximately $51,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in Nutrien during the second quarter worth $52,000. Rothschild Investment LLC purchased a new position in Nutrien in the second quarter worth $72,000. Finally, Larson Financial Group LLC boosted its position in Nutrien by 1,370.6% in the third quarter. Larson Financial Group LLC now owns 1,603 shares of the company’s stock worth $77,000 after purchasing an additional 1,494 shares during the last quarter. 63.10% of the stock is owned by hedge funds and other institutional investors.

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.