Nutrien Ltd. (NYSE:NTR) Increases Dividend to $0.94 Per Share

Nutrien Ltd. (NYSE:NTR) announced a quarterly dividend on Wednesday, November 6th,Zacks Dividends reports. Stockholders of record on Tuesday, December 31st will be given a dividend of 0.939 per share on Friday, January 17th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 7.75%. The ex-dividend date of this dividend is Tuesday, December 31st. This is an increase from Nutrien’s previous quarterly dividend of $0.54.

Nutrien has increased its dividend by an average of 5.6% per year over the last three years. Nutrien has a dividend payout ratio of 58.5% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Nutrien to earn $3.78 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 57.1%.

Nutrien Price Performance

NYSE:NTR traded down $0.45 on Friday, hitting $48.49. The company had a trading volume of 170,711 shares, compared to its average volume of 1,941,508. Nutrien has a 52 week low of $44.65 and a 52 week high of $60.87. The company has a current ratio of 1.26, a quick ratio of 0.82 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $23.95 billion, a price-to-earnings ratio of 30.59, a PEG ratio of 1.66 and a beta of 0.82. The firm has a 50 day moving average of $47.97 and a two-hundred day moving average of $50.65.

Nutrien (NYSE:NTR) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.39 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.04). Nutrien had a net margin of 2.97% and a return on equity of 6.91%. The firm had revenue of $5.35 billion during the quarter, compared to the consensus estimate of $5.26 billion. During the same quarter in the previous year, the company posted $0.35 earnings per share. The firm’s revenue was down 5.0% on a year-over-year basis. On average, research analysts anticipate that Nutrien will post 3.82 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on NTR. Barclays cut their price target on Nutrien from $68.00 to $55.00 and set an “overweight” rating on the stock in a research note on Friday, August 16th. UBS Group cut shares of Nutrien from a “buy” rating to a “neutral” rating and decreased their price target for the company from $66.00 to $51.00 in a research report on Thursday, October 10th. Wells Fargo & Company downgraded shares of Nutrien from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $62.00 to $50.00 in a research note on Tuesday, September 24th. Scotiabank reduced their price objective on shares of Nutrien from $66.00 to $59.00 and set a “sector outperform” rating on the stock in a research note on Monday, August 12th. Finally, Mizuho lowered their target price on Nutrien from $55.00 to $52.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th. Three research analysts have 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 MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $60.44.

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.