Freedom Broker Has Lowered Expectations for Nutrien (NYSE:NTR) Stock Price

Key Points

• Freedom Broker cut Nutrien’s price target from $78 to $76 and maintained a Hold rating, implying 6.21% upside from the prior close.
• Analyst sentiment is Moderate Buy overall, with a consensus price target of $79.14; 16 analysts rate the stock Buy, six Hold, and one Sell.
• Nutrien reported quarterly EPS of $0.61, missing the $0.74 consensus estimate, while revenue of $5.69 billion slightly exceeded forecasts.

Nutrien (NYSE:NTR - Get Free Report) had its target price decreased by analysts at Freedom Broker from $78.00 to $76.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has a "hold" rating on the stock. Freedom Broker's price objective indicates a potential upside of 6.21% from the stock's previous close.

A number of other analysts have also weighed in on the company. Mizuho lowered their target price on Nutrien from $77.00 to $75.00 and set a "neutral" rating for the company in a research note on Tuesday, July 14th. UBS Group upped their price target on shares of Nutrien from $59.00 to $62.00 and gave the stock a "sell" rating in a research report on Tuesday, October 27th. KeyCorp initiated coverage on shares of Nutrien in a report on Thursday, September 10th. They set a "sector weight" rating and a $73.00 price objective on the stock. Canadian Imperial Bank of Commerce reissued an "outperform" rating on shares of Nutrien in a report on Monday, August 10th. Finally, Jefferies Financial Group restated a "hold" rating and issued a $71.00 price objective on shares of Nutrien in a research report on Monday, October 12th. Sixteen analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $79.14.

Nutrien Price Performance

Shares of NYSE NTR traded down $0.62 during mid-day trading on Wednesday, hitting $71.55. 570,518 shares of the stock were exchanged, compared to its average volume of 2,984,739. Nutrien has a twelve month low of $54.52 and a twelve month high of $85.36. The stock's fifty day simple moving average is $72.76 and its two-hundred day simple moving average is $71.15. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.89 and a current ratio of 1.41. The company has a market cap of $34.01 billion, a P/E ratio of 15.60, a PEG ratio of 0.80 and a beta of 0.67.

Nutrien (NYSE:NTR - Get Free Report) last released its quarterly earnings results on Wednesday, November 4th. The company reported $0.61 EPS for the quarter, missing analysts' consensus estimates of $0.74 by ($0.13). The business had revenue of $5.69 billion for the quarter, compared to the consensus estimate of $5.66 billion. Nutrien had a return on equity of 8.00% and a net margin of 7.78%. The firm's revenue was up .9% on a year-over-year basis. During the same quarter last year, the company earned $0.97 earnings per share. As a group, analysts forecast that Nutrien will post 4.53 EPS for the current fiscal year.

Hedge Funds Weigh In On Nutrien

A number of hedge funds and other institutional investors have recently bought and sold shares of NTR. Wellington Management Group LLP bought a new position in shares of Nutrien in the 2nd quarter worth $654,081,000. Deutsche Bank AG bought a new position in Nutrien during the second quarter worth about $588,720,000. The Manufacturers Life Insurance Company acquired a new position in shares of Nutrien during the 2nd quarter worth about $375,178,000. Canada Pension Plan Investment Board acquired a new position in shares of Nutrien during the 2nd quarter worth about $359,318,000. Finally, BlackRock Inc. bought a new stake in shares of Nutrien in the 2nd quarter valued at about $220,942,000. 63.10% of the stock is owned by institutional investors.

Nutrien Company Profile

Nutrien Ltd. is a Canadian agricultural inputs and services company headquartered in Saskatoon, Saskatchewan. Formed in 2018 through the merger of Agrium and Potash Corporation of Saskatchewan, it serves farmers and other customers through fertilizer production and agricultural retail operations. The company produces potash, nitrogen and phosphate fertilizers, which are used to support crop growth. It also sells crop protection products and seeds, and provides growers with agronomic advice and other services.

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