FY2024 Earnings Estimate for Nutrien Issued By Raymond James

Nutrien Ltd. (NYSE:NTR) – Equities research analysts at Raymond James cut their FY2024 earnings per share estimates for Nutrien in a research report issued to clients and investors on Tuesday, December 3rd. Raymond James analyst S. Hansen now expects that the company will post earnings of $3.43 per share for the year, down from their prior forecast of $3.54. Raymond James currently has a “Outperform” rating and a $60.00 price target 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 posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.04). The firm had revenue of $5.35 billion during the quarter, compared to the consensus estimate of $5.26 billion. Nutrien had a net margin of 2.79% and a return on equity of 6.99%. Nutrien’s revenue was down 5.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.35 EPS.

A number of other analysts also recently weighed in on NTR. Wells Fargo & Company downgraded shares of Nutrien from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $62.00 to $50.00 in a research report on Tuesday, September 24th. Royal Bank of Canada reiterated an “outperform” rating and issued a $60.00 price target on shares of Nutrien in a research note on Friday, September 20th. TD Securities dropped their price objective on Nutrien from $63.00 to $61.00 and set a “buy” rating on the stock in a research note on Tuesday, November 12th. BMO Capital Markets reduced their price target on Nutrien from $80.00 to $75.00 and set an “outperform” rating for the company in a report on Friday, August 9th. Finally, UBS Group lowered shares of Nutrien from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $66.00 to $51.00 in a research report on Thursday, October 10th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $60.06.

Nutrien Stock Performance

Shares of Nutrien stock opened at $47.93 on Thursday. The firm has a fifty day moving average of $47.96 and a two-hundred day moving average of $49.56. The stock has a market capitalization of $23.67 billion, a price-to-earnings ratio of 32.17, a PEG ratio of 1.71 and a beta of 0.80. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.82 and a current ratio of 1.27. Nutrien has a 52 week low of $44.65 and a 52 week high of $60.87.

Hedge Funds Weigh In On Nutrien

Several large investors have recently modified their holdings of the business. Bank of Montreal Can raised its holdings in Nutrien by 15.5% during the 2nd quarter. Bank of Montreal Can now owns 13,354,385 shares of the company’s stock worth $719,668,000 after purchasing an additional 1,794,333 shares during the last quarter. Silchester International Investors LLP increased its position in shares of Nutrien by 164.4% during the third quarter. Silchester International Investors LLP now owns 10,683,242 shares of the company’s stock worth $513,437,000 after acquiring an additional 6,642,075 shares in the last quarter. 1832 Asset Management L.P. raised its stake in shares of Nutrien by 1.9% in the second quarter. 1832 Asset Management L.P. now owns 9,006,528 shares of the company’s stock worth $458,522,000 after purchasing an additional 167,312 shares during the last quarter. Altshuler Shaham Ltd lifted its stake in Nutrien by 8.1% during the 2nd quarter. Altshuler Shaham Ltd now owns 5,990,374 shares of the company’s stock valued at $304,970,000 after acquiring an additional 446,340 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Nutrien by 8.4% during the second quarter. Dimensional Fund Advisors LP now owns 5,145,375 shares of the company’s stock valued at $261,985,000 after purchasing an additional 399,348 shares in the last quarter. Institutional investors own 63.10% of the company’s stock.

Nutrien Increases Dividend

The company 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 dividend of $0.939 per share. 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 7.84%. The ex-dividend date of this dividend is Tuesday, December 31st. Nutrien’s payout ratio is 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.