Scotiabank Lowers Nutrien (NYSE:NTR) Price Target to $66.00

Nutrien (NYSE:NTR - Free Report) had its target price cut by Scotiabank from $67.00 to $66.00 in a research report released on Monday morning, BayStreet.CA reports. They currently have an outperform rating on the stock.

Several other analysts have also recently weighed in on the company. Wolfe Research assumed coverage on Nutrien in a report on Friday, March 1st. They set an outperform rating and a $66.00 price target for the company. BMO Capital Markets lowered their price objective on Nutrien from $86.00 to $80.00 and set an outperform rating for the company in a research note on Thursday, January 25th. Piper Sandler lowered Nutrien from a neutral rating to an underweight rating and reduced their price objective for the company from $68.00 to $54.00 in a report on Thursday, February 29th. CIBC cut their price target on shares of Nutrien from $87.00 to $76.00 and set an outperform rating for the company in a report on Friday, February 23rd. Finally, The Goldman Sachs Group lowered their price target on shares of Nutrien from $88.00 to $78.00 and set a buy rating for the company in a research note on Thursday, February 1st. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat, Nutrien has a consensus rating of Moderate Buy and an average target price of $67.37.

Nutrien Trading Down 2.1 %

NTR traded down $1.21 during mid-day trading on Monday, hitting $56.96. The stock had a trading volume of 1,365,661 shares, compared to its average volume of 1,967,180. Nutrien has a 1-year low of $47.90 and a 1-year high of $69.12. The firm has a market capitalization of $28.17 billion, a price-to-earnings ratio of 33.45, a price-to-earnings-growth ratio of 2.17 and a beta of 0.89. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.15 and a quick ratio of 0.53. The stock's fifty day simple moving average is $53.68 and its 200-day simple moving average is $53.64.

Nutrien (NYSE:NTR - Get Free Report) last released its quarterly earnings results on Wednesday, February 21st. The company reported $0.37 EPS for the quarter, missing analysts' consensus estimates of $0.72 by ($0.35). The business had revenue of $5.66 billion for the quarter, compared to analyst estimates of $5.36 billion. Nutrien had a return on equity of 7.31% and a net margin of 3.01%. The company's revenue for the quarter was down 24.8% compared to the same quarter last year. During the same period in the prior year, the business earned $2.02 EPS. As a group, research analysts forecast that Nutrien will post 3.82 EPS for the current fiscal year.

Nutrien Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 19th. Shareholders of record on Friday, June 28th will be given a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 3.79%. The ex-dividend date is Friday, June 28th. Nutrien's payout ratio is 126.32%.

Institutional Trading of Nutrien

A number of hedge funds have recently added to or reduced their stakes in NTR. UniSuper Management Pty Ltd boosted its stake in Nutrien by 84.2% during the first quarter. UniSuper Management Pty Ltd now owns 7,000 shares of the company's stock valued at $380,000 after buying an additional 3,200 shares in the last quarter. Clearbridge Investments LLC lifted its stake in Nutrien by 25.7% in the 1st quarter. Clearbridge Investments LLC now owns 724,267 shares of the company's stock worth $39,403,000 after acquiring an additional 148,226 shares in the last quarter. Seven Eight Capital LP purchased a new stake in shares of Nutrien during the 1st quarter worth about $275,000. Promethos Capital LLC boosted its position in Nutrien by 9.6% in the 1st quarter. Promethos Capital LLC now owns 126,754 shares of the company's stock valued at $6,885,000 after buying an additional 11,055 shares during the last quarter. Finally, Bahl & Gaynor Inc. boosted its position in Nutrien by 4.7% in the 1st quarter. Bahl & Gaynor Inc. now owns 6,102 shares of the company's stock valued at $331,000 after buying an additional 276 shares during the last quarter. 63.10% of the stock is owned by institutional investors and hedge funds.

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.