Nutrien (NYSE:NTR) Upgraded by Raymond James to Outperform Rating

Raymond James upgraded shares of Nutrien (NYSE:NTR) from a market perform rating to an outperform rating in a research report sent to investors on Tuesday, Marketbeat reports. They currently have $60.00 price target on the stock, up from their prior price target of $58.00.

A number of other brokerages have also weighed in on NTR. TD Securities lowered their target price on Nutrien from $63.00 to $61.00 and set a “buy” rating on the stock in a research note on Tuesday, November 12th. Wells Fargo & Company downgraded Nutrien from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $62.00 to $50.00 in a report on Tuesday, September 24th. Mizuho decreased their price target 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 reiterated an “outperform” rating and issued a $60.00 price objective on shares of Nutrien in a research note on Friday, September 20th. Finally, Scotiabank decreased their target price on shares of Nutrien from $66.00 to $59.00 and set a “sector outperform” rating on the stock in a research report on Monday, August 12th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, Nutrien currently has an average rating of “Hold” and an average target price of $60.06.

Nutrien Trading Up 2.1 %

Shares of Nutrien stock opened at $48.79 on Tuesday. Nutrien has a 1 year low of $44.65 and a 1 year high of $60.87. The company has a market capitalization of $24.10 billion, a price-to-earnings ratio of 32.74, a P/E/G ratio of 1.68 and a beta of 0.80. The business has a fifty day simple moving average of $47.96 and a two-hundred day simple moving average of $49.58. 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 announced its earnings results on Wednesday, November 6th. The company reported $0.39 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.04). The company had revenue of $5.35 billion for the quarter, compared to the consensus estimate of $5.26 billion. Nutrien had a return on equity of 6.99% and a net margin of 2.79%. The business’s quarterly revenue was down 5.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.35 EPS. Research analysts forecast that Nutrien will post 3.56 EPS for the current year.

Nutrien Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Tuesday, December 31st will be issued a $0.939 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $3.76 dividend on an annualized basis and a dividend yield of 7.70%. This is a boost from Nutrien’s previous quarterly dividend of $0.54. Nutrien’s dividend payout ratio is 144.97%.

Institutional Investors Weigh In On Nutrien

Several hedge funds and other institutional investors have recently made changes to their positions in NTR. Cetera Advisors LLC grew its stake in shares of Nutrien by 21.3% during the first quarter. Cetera Advisors LLC now owns 5,897 shares of the company’s stock worth $321,000 after buying an additional 1,036 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of Nutrien by 160.9% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,075 shares of the company’s stock valued at $57,000 after acquiring an additional 663 shares in the last quarter. CWM LLC grew its position in Nutrien by 6.1% during the 2nd quarter. CWM LLC now owns 5,923 shares of the company’s stock worth $302,000 after acquiring an additional 338 shares during the last quarter. Simplicity Wealth LLC increased its holdings in Nutrien by 2.2% in the 2nd quarter. Simplicity Wealth LLC now owns 70,124 shares of the company’s stock worth $3,570,000 after purchasing an additional 1,540 shares in the last quarter. Finally, Tilia Fiduciary Partners Inc. raised its position in Nutrien by 7.2% in the second quarter. Tilia Fiduciary Partners Inc. now owns 27,127 shares of the company’s stock valued at $1,381,000 after purchasing an additional 1,812 shares during the last quarter. 63.10% of the stock is owned by institutional investors.

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.