Nutrien (NYSE:NTR) Price Target Raised to $62.00 at Scotiabank

Nutrien (NYSE:NTR) had its price objective boosted by Scotiabank from $60.00 to $62.00 in a report published on Monday morning,Benzinga reports. The firm currently has a sector outperform rating on the stock.

A number of other equities research analysts also recently issued reports on the stock. CIBC reaffirmed an “outperformer” rating and set a $55.00 price target (down previously from $60.00) on shares of Nutrien in a research note on Tuesday, December 10th. Wells Fargo & Company upped their price target on shares of Nutrien from $53.00 to $56.00 and gave the company an “equal weight” rating in a research note on Friday. UBS Group upped their price target on shares of Nutrien from $53.00 to $54.00 and gave the company a “neutral” rating in a research note on Thursday, February 20th. TD Securities reduced their target price on shares of Nutrien from $63.00 to $61.00 and set a “buy” rating on the stock in a research note on Tuesday, November 12th. Finally, Oppenheimer began coverage on shares of Nutrien in a research note on Thursday, December 12th. They issued an “outperform” rating and a $60.00 target price on the stock. One research analyst has rated the stock with a sell rating, six have given a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $59.50.

Nutrien Stock Performance

NTR opened at $52.05 on Monday. The firm has a market cap of $25.49 billion, a P/E ratio of 37.99, a PEG ratio of 1.19 and a beta of 0.81. Nutrien has a 1-year low of $43.69 and a 1-year high of $60.87. The company has a 50 day simple moving average of $49.51 and a two-hundred day simple moving average of $48.29. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.27 and a quick ratio of 0.82.

Nutrien (NYSE:NTR) last posted its quarterly earnings results on Wednesday, February 19th. The company reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.09). Nutrien had a return on equity of 6.81% and a net margin of 2.62%. The firm had revenue of $5.08 billion during the quarter, compared to the consensus estimate of $5.09 billion. Equities analysts forecast that Nutrien will post 3.72 earnings per share for the current fiscal year.

Nutrien Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.545 per share. This represents a $2.18 annualized dividend and a yield of 4.19%. The ex-dividend date of this dividend is Monday, March 31st. Nutrien’s payout ratio is 159.12%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NTR. Public Employees Retirement System of Ohio boosted its holdings in shares of Nutrien by 6.3% in the 4th quarter. Public Employees Retirement System of Ohio now owns 92,018 shares of the company’s stock valued at $4,116,000 after buying an additional 5,420 shares in the last quarter. Burgundy Asset Management Ltd. boosted its holdings in shares of Nutrien by 36.1% in the 4th quarter. Burgundy Asset Management Ltd. now owns 130,000 shares of the company’s stock valued at $5,811,000 after buying an additional 34,500 shares in the last quarter. Vise Technologies Inc. bought a new stake in shares of Nutrien in the 4th quarter valued at about $222,000. Two Sigma Advisers LP boosted its holdings in shares of Nutrien by 211.4% in the 4th quarter. Two Sigma Advisers LP now owns 67,317 shares of the company’s stock valued at $3,012,000 after buying an additional 45,700 shares in the last quarter. Finally, Two Sigma Investments LP boosted its holdings in shares of Nutrien by 45.7% in the 4th quarter. Two Sigma Investments LP now owns 301,505 shares of the company’s stock valued at $13,492,000 after buying an additional 94,554 shares in the last quarter. 63.10% of the stock is currently owned by institutional investors.

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.