Canadian Imperial Bank of Commerce Has Lowered Expectations for Nutrien (NYSE:NTR) Stock Price

Key Points

• Canadian Imperial Bank of Commerce lowered its price target on Nutrien from $90 to $88 while keeping an "outperformer" rating, implying roughly a 15.74% upside from the prior close.
• Analyst views are mixed with a consensus "Hold" and an $80 average target, as 11 Buy, 7 Hold and 2 Sell ratings reflect divergence (e.g., Jefferies upgraded to Buy with a $96 target while others trimmed expectations).
• Nutrien missed its latest quarterly estimates, reporting $0.83 EPS vs. $0.87 expected and $5.12B revenue vs. $5.26B expected, and the stock recently traded at $76.03 (market cap ~$36.6B, P/E ~16.3).

Nutrien (NYSE:NTR - Get Free Report) had its price objective lowered by research analysts at Canadian Imperial Bank of Commerce from $90.00 to $88.00 in a report released on Thursday,Benzinga reports. The firm presently has an "outperformer" rating on the stock. Canadian Imperial Bank of Commerce's target price suggests a potential upside of 15.74% from the stock's previous close.

Other equities research analysts also recently issued research reports about the stock. Mizuho boosted their price objective on shares of Nutrien from $65.00 to $68.00 and gave the company a "neutral" rating in a research report on Friday, January 16th. Zacks Research downgraded shares of Nutrien from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 2nd. BNP Paribas Exane downgraded shares of Nutrien from an "outperform" rating to a "neutral" rating in a research report on Monday, February 23rd. Jefferies Financial Group raised shares of Nutrien from a "hold" rating to a "buy" rating and boosted their price objective for the company from $74.00 to $96.00 in a research report on Thursday, March 12th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Nutrien from $68.00 to $78.00 and gave the company an "overweight" rating in a research report on Friday, February 20th. Eleven analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $80.00.

Nutrien Stock Up 2.6%

Shares of Nutrien stock traded up $1.90 during trading on Thursday, reaching $76.03. The company had a trading volume of 3,358,926 shares, compared to its average volume of 3,516,083. The company has a market cap of $36.56 billion, a price-to-earnings ratio of 16.32 and a beta of 0.69. The firm's fifty day moving average is $74.77 and its 200-day moving average is $66.45. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.70 and a current ratio of 1.34. Nutrien has a fifty-two week low of $53.03 and a fifty-two week high of $85.36.

Nutrien (NYSE:NTR - Get Free Report) last issued its earnings results on Wednesday, February 18th. The company reported $0.83 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.87 by ($0.04). Nutrien had a net margin of 8.43% and a return on equity of 8.41%. The company had revenue of $5.12 billion during the quarter, compared to analyst estimates of $5.26 billion. During the same quarter last year, the company posted $0.31 EPS. The business's revenue for the quarter was up 5.1% compared to the same quarter last year. On average, analysts anticipate that Nutrien will post 4.95 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in NTR. Montag A & Associates Inc. boosted its holdings in shares of Nutrien by 310.7% in the fourth quarter. Montag A & Associates Inc. now owns 423 shares of the company's stock valued at $26,000 after acquiring an additional 320 shares in the last quarter. Evolution Wealth Management Inc. bought a new position in shares of Nutrien in the first quarter valued at approximately $32,000. Root Financial Partners LLC bought a new position in shares of Nutrien in the third quarter valued at approximately $37,000. Sfam LLC acquired a new stake in Nutrien during the fourth quarter valued at approximately $37,000. Finally, Eastern Bank boosted its holdings in Nutrien by 133.0% during the fourth quarter. Eastern Bank now owns 699 shares of the company's stock worth $43,000 after buying an additional 399 shares in the last quarter. 63.10% of the stock is currently owned by institutional investors.

About Nutrien

Nutrien Ltd. is a global fertilizer and agricultural-services company headquartered in Saskatoon, Saskatchewan, Canada. The company is publicly traded and operates across the farm input value chain, combining upstream fertilizer production with a broad retail and services platform aimed at supporting crop production worldwide. Nutrien's business model integrates the manufacture and distribution of crop nutrients with on-the-ground agronomic support for growers and agricultural businesses.

Nutrien produces and supplies the three primary fertilizer nutrients—potash, nitrogen and phosphate—through its wholesale operations, and markets a wide range of crop inputs including seeds and crop protection products.

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