Nutrien Ltd. (NYSE:NTR – Get Free Report) 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.
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.
Read Our Latest Stock Analysis on Nutrien
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.
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