Nutrien (NYSE:NTR) Price Target Raised to $63.00 at Piper Sandler

Nutrien (NYSE:NTR) had its price objective raised by Piper Sandler from $58.00 to $63.00 in a research report released on Monday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

Several other equities research analysts also recently commented on NTR. Barclays reaffirmed an “equal weight” rating and set a $56.00 target price (up from $55.00) on shares of Nutrien in a report on Tuesday, January 21st. JPMorgan Chase & Co. raised Nutrien from an “underweight” rating to a “neutral” rating and upped their target price for the company from $40.00 to $50.00 in a report on Monday, January 13th. CIBC reaffirmed an “outperformer” rating and set a $55.00 target price (down from $60.00) on shares of Nutrien in a report on Tuesday, December 10th. Oppenheimer assumed coverage on Nutrien in a report on Thursday, December 12th. They set an “outperform” rating and a $60.00 target price for the company. Finally, Raymond James raised Nutrien from a “market perform” rating to an “outperform” rating and upped their price target for the company from $58.00 to $60.00 in a research report on Tuesday, December 3rd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $58.67.

Nutrien Trading Down 0.4 %

Shares of Nutrien stock opened at $52.57 on Monday. The company has a quick ratio of 0.82, a current ratio of 1.27 and a debt-to-equity ratio of 0.38. The firm has a market cap of $25.81 billion, a price-to-earnings ratio of 35.28, a price-to-earnings-growth ratio of 1.17 and a beta of 0.81. The business has a fifty day simple moving average of $47.61 and a 200-day simple moving average of $47.98. Nutrien has a fifty-two week low of $43.69 and a fifty-two week high of $60.87.

Nutrien (NYSE:NTR) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.04). Nutrien had a net margin of 2.79% and a return on equity of 6.99%. The firm had revenue of $5.35 billion during the quarter, compared to analyst estimates of $5.26 billion. During the same quarter last year, the company earned $0.35 EPS. The company’s quarterly revenue was down 5.0% compared to the same quarter last year. On average, equities analysts forecast that Nutrien will post 3.5 EPS for the current fiscal year.

Nutrien Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Tuesday, December 31st were issued a dividend of $0.939 per share. This is a positive change from Nutrien’s previous quarterly dividend of $0.54. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $3.76 dividend on an annualized basis and a dividend yield of 7.15%. Nutrien’s dividend payout ratio is currently 144.97%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in NTR. Mercer Global Advisors Inc. ADV boosted its stake in Nutrien by 8.3% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 4,660 shares of the company’s stock valued at $237,000 after purchasing an additional 356 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new stake in Nutrien during the 2nd quarter valued at approximately $52,000. AQR Capital Management LLC boosted its stake in Nutrien by 28.4% during the 2nd quarter. AQR Capital Management LLC now owns 5,348 shares of the company’s stock valued at $272,000 after purchasing an additional 1,184 shares during the period. Lighthouse Investment Partners LLC bought a new stake in Nutrien during the 2nd quarter valued at approximately $308,000. Finally, Scientech Research LLC bought a new stake in Nutrien during the 2nd quarter valued at approximately $420,000. Institutional investors and hedge funds own 63.10% of the company’s stock.

About Nutrien

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.