FY2024 Earnings Estimate for Nutrien Issued By Raymond James

Nutrien Ltd. (NYSE:NTR) – Equities researchers at Raymond James decreased their FY2024 earnings per share estimates for Nutrien in a report released on Tuesday, December 3rd. Raymond James analyst S. Hansen now anticipates that the company will earn $3.43 per share for the year, down from their prior forecast of $3.54. Raymond James has a “Outperform” rating and a $60.00 price objective on the stock. The consensus estimate for Nutrien’s current full-year earnings is $3.56 per share. Raymond James also issued estimates for Nutrien’s Q4 2024 earnings at $0.28 EPS.

Nutrien (NYSE:NTR) last released its earnings results on Wednesday, November 6th. The company reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.04). Nutrien had a net margin of 2.79% and a return on equity of 6.99%. The company had revenue of $5.35 billion for the quarter, compared to the consensus estimate of $5.26 billion. During the same quarter in the previous year, the company posted $0.35 earnings per share. The business’s revenue was down 5.0% compared to the same quarter last year.

Several other analysts have also issued reports on the company. UBS Group lowered Nutrien from a “buy” rating to a “neutral” rating and cut their target price for the stock from $66.00 to $51.00 in a research note on Thursday, October 10th. Wells Fargo & Company downgraded Nutrien from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $62.00 to $50.00 in a research note on Tuesday, September 24th. Royal Bank of Canada restated an “outperform” rating and set a $60.00 price target on shares of Nutrien in a report on Friday, September 20th. BMO Capital Markets dropped their price objective on Nutrien from $80.00 to $75.00 and set an “outperform” rating for the company in a report on Friday, August 9th. Finally, The Goldman Sachs Group lowered Nutrien from a “buy” rating to a “neutral” rating and reduced their target price for the company from $69.00 to $53.00 in a research report on Tuesday, September 10th. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, Nutrien has an average rating of “Hold” and an average target price of $60.06.

Nutrien Stock Performance

Shares of NTR opened at $48.11 on Thursday. Nutrien has a one year low of $44.65 and a one year high of $60.87. The company has a market cap of $23.76 billion, a PE ratio of 32.29, a P/E/G ratio of 1.71 and a beta of 0.80. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.27 and a quick ratio of 0.82. The stock has a 50-day moving average of $47.96 and a 200-day moving average of $49.56.

Hedge Funds Weigh In On Nutrien

Several hedge funds and other institutional investors have recently bought and sold shares of NTR. Central Pacific Bank Trust Division purchased a new position in Nutrien during the third quarter worth $28,000. Family Firm Inc. purchased a new position in Nutrien during the second quarter worth $32,000. Andra AP fonden purchased a new position in Nutrien during the second quarter worth $51,000. Oakworth Capital Inc. purchased a new position in Nutrien during the second quarter worth $52,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in Nutrien during the second quarter worth $52,000. 63.10% of the stock is owned by institutional investors and hedge funds.

Nutrien Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Tuesday, December 31st will be issued a $0.939 dividend. This is a boost from Nutrien’s previous quarterly dividend of $0.54. This represents a $3.76 annualized dividend and a dividend yield of 7.81%. The ex-dividend date of this dividend is Tuesday, December 31st. Nutrien’s dividend payout ratio (DPR) is currently 144.97%.

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.