Nutrien's (NTR) Outperform Rating Reiterated at Royal Bank Of Canada

Key Points

• Royal Bank of Canada reaffirmed Nutrien’s “outperform” rating and maintained an $85 price target, implying 9.67% upside from the prior close.
• Analyst sentiment remains favorable, with 17 Buy ratings, four Holds and one Sell; Nutrien has a consensus “Moderate Buy” rating and an average price target of $81.15.
• Nutrien’s latest quarterly EPS of $2.61 missed estimates of $2.70, although revenue reached $10.81 billion, up 3.6% year over year and above expectations.

Nutrien (NYSE:NTR - Get Free Report)'s stock had its "outperform" rating reaffirmed by research analysts at Royal Bank Of Canada in a research report issued to clients and investors on Friday, Benzinga reports. They currently have a $85.00 price objective on the stock. Royal Bank Of Canada's target price suggests a potential upside of 9.67% from the company's previous close.

A number of other equities analysts also recently issued reports on NTR. BNP Paribas Exane raised shares of Nutrien from a "neutral" rating to an "outperform" rating and set a $80.00 price objective on the stock in a report on Tuesday, July 28th. Canadian Imperial Bank of Commerce reiterated an "outperform" rating on shares of Nutrien in a research report on Monday, August 10th. Scotia upgraded Nutrien from a "sector perform" rating to a "sector outperform" rating and set a $80.00 price objective for the company in a research note on Tuesday, June 30th. Barclays cut their price target on Nutrien from $81.00 to $78.00 and set an "overweight" rating for the company in a report on Monday, August 10th. Finally, KeyCorp assumed coverage on Nutrien in a research note on Thursday, September 10th. They issued a "sector weight" rating and a $73.00 price objective on the stock. Seventeen investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $81.15.

Nutrien Stock Down 1.8%

Nutrien stock opened at $77.50 on Friday. The stock has a market cap of $36.98 billion, a PE ratio of 15.69, a price-to-earnings-growth ratio of 0.83 and a beta of 0.62. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.86 and a current ratio of 1.39. Nutrien has a one year low of $53.03 and a one year high of $85.36. The stock has a fifty day moving average of $71.72 and a 200 day moving average of $71.27.

Nutrien (NYSE:NTR - Get Free Report) last announced its earnings results on Wednesday, August 5th. The company reported $2.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.70 by ($0.09). The firm had revenue of $10.81 billion during the quarter, compared to analysts' expectations of $10.44 billion. Nutrien had a return on equity of 8.88% and a net margin of 8.44%.The company's revenue for the quarter was up 3.6% on a year-over-year basis. During the same period in the previous year, the business posted $2.65 earnings per share. As a group, sell-side analysts predict that Nutrien will post 4.66 EPS for the current year.

Institutional Investors Weigh In On Nutrien

Hedge funds have recently bought and sold shares of the business. Wellington Altus USA Inc. increased its holdings in shares of Nutrien by 14.6% in the 2nd quarter. Wellington Altus USA Inc. now owns 2,239 shares of the company's stock worth $141,000 after buying an additional 285 shares during the last quarter. Sequoia Financial Advisors LLC lifted its holdings in shares of Nutrien by 19.0% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 12,259 shares of the company's stock valued at $772,000 after acquiring an additional 1,955 shares during the last quarter. SailingStone Capital Partners LLC grew its position in Nutrien by 115.2% in the second quarter. SailingStone Capital Partners LLC now owns 288,350 shares of the company's stock worth $18,152,000 after acquiring an additional 154,377 shares in the last quarter. WINTON GROUP Ltd purchased a new position in Nutrien in the second quarter worth about $308,000. Finally, Engineers Gate Manager LP increased its stake in Nutrien by 665.4% during the second quarter. Engineers Gate Manager LP now owns 67,888 shares of the company's stock worth $4,274,000 after acquiring an additional 59,018 shares during the last quarter. Hedge funds and other institutional investors own 63.10% of the company's stock.

About Nutrien

Nutrien Ltd. NYSE: NTR is a global provider of crop inputs and agricultural services. The company produces and distributes essential nutrients, including potash, nitrogen and phosphate products, which farmers use to support crop growth and improve yields.

Through its retail operations, Nutrien supplies farmers with seed, crop protection products, fertilizers and agronomic services. Its retail network also provides farm management recommendations, application services and other solutions designed to help growers manage their operations and use agricultural inputs more efficiently.

Nutrien was formed in 2018 through the merger of Potash Corporation of Saskatchewan and Agrium.

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