Nutrien Ltd. (NTR) to Issue Quarterly Dividend of $0.54 on October 18th

Nutrien Ltd. (NYSE:NTR) declared a quarterly dividend on Wednesday, August 7th, Zacks reports. Investors of record on Friday, September 27th will be paid a dividend of 0.54 per share on Friday, October 18th. This represents a $2.16 dividend on an annualized basis and a yield of 4.53%. The ex-dividend date of this dividend is Friday, September 27th.

Nutrien has increased its dividend payment by an average of 5.6% annually over the last three years and has increased its dividend every year for the last 6 years. Nutrien has a payout ratio of 57.6% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Nutrien to earn $3.80 per share next year, which means the company should continue to be able to cover its $2.16 annual dividend with an expected future payout ratio of 56.8%.

Nutrien Stock Up 0.5 %

Shares of Nutrien stock opened at $47.70 on Wednesday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.26 and a quick ratio of 0.82. Nutrien has a 1-year low of $44.65 and a 1-year high of $63.60. The business’s fifty day moving average price is $47.88 and its two-hundred day moving average price is $51.78. The company has a market capitalization of $23.61 billion, a P/E ratio of 27.89, a PEG ratio of 1.55 and a beta of 0.82.

Nutrien (NYSE:NTR) last announced its earnings results on Wednesday, August 7th. The company reported $2.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.19 by $0.15. The firm had revenue of $10.16 billion during the quarter, compared to analyst estimates of $10.82 billion. Nutrien had a net margin of 2.97% and a return on equity of 6.91%. Nutrien’s revenue was down 12.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.53 EPS. As a group, research analysts forecast that Nutrien will post 3.83 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Piper Sandler lowered their price target on Nutrien from $56.00 to $55.00 and set an “underweight” rating on the stock in a research report on Tuesday, June 11th. Mizuho cut their target price on shares of Nutrien from $55.00 to $52.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $60.00 target price on shares of Nutrien in a research note on Friday, September 20th. Wells Fargo & Company downgraded shares of Nutrien from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $62.00 to $50.00 in a research report on Tuesday. Finally, UBS Group reduced their price target on Nutrien from $67.00 to $66.00 and set a “buy” rating for the company in a report on Tuesday, July 9th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, Nutrien has an average rating of “Hold” and a consensus target price of $61.50.

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.