Nutrien (NYSE:NTR) Rating Reiterated by Royal Bank of Canada

Royal Bank of Canada restated their outperform rating on shares of Nutrien (NYSE:NTR) in a research report report published on Friday morning, Benzinga reports. Royal Bank of Canada currently has a $60.00 price objective on the stock.

Several other research firms have also weighed in on NTR. Barclays reduced their target price on shares of Nutrien from $68.00 to $55.00 and set an overweight rating on the stock in a report on Friday, August 16th. Wells Fargo & Company decreased their target price on Nutrien from $68.00 to $66.00 and set an overweight rating for the company in a research report on Tuesday, July 16th. The Goldman Sachs Group lowered Nutrien from a buy rating to a neutral rating and lowered their target price for the company from $69.00 to $53.00 in a research note on Tuesday, September 10th. Scotiabank reduced their price target on Nutrien from $66.00 to $59.00 and set a sector outperform rating on the stock in a research report on Monday, August 12th. Finally, Hsbc Global Res downgraded shares of Nutrien from a hold rating to a moderate sell rating in a research report on Friday, August 2nd. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of Hold and a consensus target price of $62.39.

Nutrien Stock Performance

Shares of NYSE:NTR opened at $47.48 on Friday. The firm has a market capitalization of $23.49 billion, a PE ratio of 27.77, a P/E/G ratio of 1.53 and a beta of 0.82. Nutrien has a 12 month low of $44.65 and a 12 month high of $63.60. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.26 and a quick ratio of 0.82. The business has a 50-day moving average of $47.95 and a two-hundred day moving average of $51.81.

Nutrien (NYSE:NTR) last posted its earnings results on Wednesday, August 7th. The company reported $2.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.19 by $0.15. The firm had revenue of $10.16 billion during the quarter, compared to the consensus estimate of $10.82 billion. Nutrien had a net margin of 2.97% and a return on equity of 6.91%. The company’s revenue was down 12.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.53 EPS. As a group, research analysts forecast that Nutrien will post 3.81 earnings per share for the current year.

Nutrien Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 18th. Investors of record on Friday, September 27th will be paid a $0.54 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $2.16 dividend on an annualized basis and a yield of 4.55%. Nutrien’s dividend payout ratio (DPR) is 126.32%.

Institutional Trading of Nutrien

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Family Firm Inc. acquired a new position in shares of Nutrien in the 2nd quarter worth approximately $32,000. GoalVest Advisory LLC bought a new stake in Nutrien during the first quarter valued at $35,000. Trust Co. of Vermont increased its stake in Nutrien by 50.0% during the second quarter. Trust Co. of Vermont now owns 900 shares of the company’s stock valued at $46,000 after purchasing an additional 300 shares during the last quarter. Covestor Ltd raised its holdings in shares of Nutrien by 33.3% during the first quarter. Covestor Ltd now owns 932 shares of the company’s stock worth $50,000 after purchasing an additional 233 shares during the period. Finally, Andra AP fonden bought a new position in shares of Nutrien in the 2nd quarter worth about $51,000. 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.