Nutrien Ltd. (NYSE:NTR – Get Free Report)’s share price gapped down before the market opened on Monday . The stock had previously closed at $66.49, but opened at $64.57. Nutrien shares last traded at $64.13, with a volume of 179,164 shares trading hands.
Analysts Set New Price Targets
Several research analysts have recently issued reports on the company. Mizuho reduced their price objective on Nutrien from $75.00 to $74.00 and set a “neutral” rating for the company in a research note on Monday, July 31st. Morgan Stanley restated an “equal weight” rating and set a $70.00 price objective on shares of Nutrien in a research note on Tuesday, July 25th. The Goldman Sachs Group cut their price objective on shares of Nutrien from $119.00 to $106.00 and set a “buy” rating on the stock in a research note on Wednesday, April 19th. Barclays downgraded shares of Nutrien from an “overweight” rating to an “underweight” rating and decreased their target price for the company from $70.00 to $68.00 in a research report on Monday. Finally, BMO Capital Markets cut their price target on Nutrien from $110.00 to $90.00 in a research report on Tuesday, May 16th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $78.84.
View Our Latest Report on Nutrien
Nutrien Stock Performance
Nutrien (NYSE:NTR – Get Free Report) last issued its quarterly earnings results on Wednesday, August 2nd. The company reported $2.53 EPS for the quarter, missing the consensus estimate of $2.83 by ($0.30). The company had revenue of $11.65 billion during the quarter, compared to analysts’ expectations of $11.04 billion. Nutrien had a return on equity of 16.41% and a net margin of 11.05%. Nutrien’s revenue was down 19.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $5.85 EPS. As a group, research analysts predict that Nutrien Ltd. will post 6.68 EPS for the current fiscal year.
Nutrien Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Friday, September 29th will be issued a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 3.46%. The ex-dividend date of this dividend is Thursday, September 28th. Nutrien’s payout ratio is presently 29.78%.
Institutional Investors Weigh In On Nutrien
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Royal London Asset Management Ltd. acquired a new stake in Nutrien during the 4th quarter worth $119,000. Prospera Financial Services Inc boosted its stake in Nutrien by 191.0% during the 4th quarter. Prospera Financial Services Inc now owns 9,069 shares of the company’s stock worth $662,000 after purchasing an additional 5,953 shares during the last quarter. Raymond James & Associates boosted its stake in Nutrien by 14.2% during the 4th quarter. Raymond James & Associates now owns 238,587 shares of the company’s stock worth $17,424,000 after purchasing an additional 29,757 shares during the last quarter. Geneos Wealth Management Inc. boosted its stake in Nutrien by 14.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 2,590 shares of the company’s stock worth $191,000 after purchasing an additional 319 shares during the last quarter. Finally, Lakewood Asset Management LLC acquired a new stake in Nutrien during the 4th quarter worth $496,000. Institutional investors and hedge funds own 62.56% of the company’s stock.
Nutrien Company Profile
Nutrien Ltd. provides crop inputs and services. The company operates through Retail, Potash, Nitrogen, and Phosphate segments. The Retail segment distributes crop nutrients, crop protection products, seeds, and merchandise products. The Potash segment provides granular and standard potash products. The Nitrogen segment offers ammonia, urea, urea ammonium nitrate, industrial grade ammonium nitrate, and ammonium sulfate.
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