Nutrien (NYSE:NTR) Price Target Cut to $60.00 by Analysts at Jefferies Financial Group

Key Points

• Jefferies Financial Group has lowered its price target for Nutrien (NYSE:NTR) from $61.00 to $60.00, maintaining a "hold" rating on the stock, suggesting a potential upside of 5.46% from its previous close.
• Nutrien's stock saw a 0.7% decrease on Tuesday, currently trading at $56.90, with an average price target of $62.39 as estimated by market analysts.
• Recent reports indicate that numerous brokerages have varied ratings for Nutrien, with two analysts giving a Strong Buy rating, six a Buy rating, and eleven a Hold rating on the stock.

Nutrien (NYSE:NTR - Free Report) had its target price lowered by Jefferies Financial Group from $61.00 to $60.00 in a research note issued to investors on Tuesday morning,BayStreet.CA reports. The brokerage currently has a hold rating on the stock.

NTR has been the topic of a number of other research reports. Royal Bank Of Canada reaffirmed an "outperform" rating on shares of Nutrien in a research report on Monday, July 14th. Barclays raised their price target on Nutrien from $61.00 to $64.00 and gave the stock an "equal weight" rating in a research report on Monday, July 7th. Wall Street Zen downgraded Nutrien from a "strong-buy" rating to a "buy" rating in a report on Friday, September 5th. Scotiabank decreased their price objective on Nutrien from $62.00 to $60.00 and set a "sector perform" rating for the company in a report on Monday, August 11th. Finally, National Bank Financial started coverage on Nutrien in a report on Friday, September 5th. They set a "sector perform" rating for the company. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Nutrien has an average rating of "Hold" and a consensus target price of $62.39.

Nutrien Trading Down 0.2%

NYSE:NTR traded down $0.12 during mid-day trading on Tuesday, hitting $57.00. The company had a trading volume of 2,447,668 shares, compared to its average volume of 2,140,676. Nutrien has a fifty-two week low of $43.69 and a fifty-two week high of $65.08. The business's fifty day moving average is $58.41 and its two-hundred day moving average is $56.30. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.85 and a current ratio of 1.33. The firm has a market cap of $27.66 billion, a P/E ratio of 20.43, a P/E/G ratio of 0.96 and a beta of 0.77.

Nutrien (NYSE:NTR - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported $2.65 EPS for the quarter, topping analysts' consensus estimates of $2.41 by $0.24. The company had revenue of $10.30 billion for the quarter, compared to analyst estimates of $10.40 billion. Nutrien had a return on equity of 6.51% and a net margin of 5.25%.Nutrien's revenue was up 2.8% compared to the same quarter last year. During the same quarter last year, the firm posted $2.34 earnings per share. As a group, research analysts expect that Nutrien will post 3.72 earnings per share for the current year.

Nutrien Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 17th. Shareholders of record on Monday, September 29th will be paid a $0.545 dividend. This represents a $2.18 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date is Monday, September 29th. Nutrien's dividend payout ratio (DPR) is currently 78.14%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of NTR. Norges Bank bought a new position in Nutrien in the second quarter valued at approximately $395,842,000. Arrowstreet Capital Limited Partnership grew its stake in Nutrien by 48.5% in the second quarter. Arrowstreet Capital Limited Partnership now owns 11,944,730 shares of the company's stock valued at $696,058,000 after purchasing an additional 3,900,755 shares in the last quarter. Boston Partners bought a new position in shares of Nutrien during the 2nd quarter worth approximately $150,416,000. JPMorgan Chase & Co. boosted its stake in shares of Nutrien by 48.7% during the 1st quarter. JPMorgan Chase & Co. now owns 6,992,535 shares of the company's stock worth $347,319,000 after acquiring an additional 2,291,518 shares during the period. Finally, First Eagle Investment Management LLC boosted its stake in shares of Nutrien by 14.0% during the 2nd quarter. First Eagle Investment Management LLC now owns 13,268,229 shares of the company's stock worth $772,742,000 after acquiring an additional 1,627,328 shares during the period. 63.10% of the stock is currently owned by institutional investors.

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.