The Goldman Sachs Group Downgrades Nutrien (NYSE:NTR) to Neutral

The Goldman Sachs Group lowered shares of Nutrien (NYSE:NTR) from a buy rating to a neutral rating in a report published on Tuesday morning, Marketbeat.com reports. The brokerage currently has $53.00 price target on the stock, down from their previous price target of $69.00.

Other research analysts have also issued reports about the company. Mizuho cut their target price on Nutrien from $55.00 to $52.00 and set a neutral rating on the stock in a research report on Thursday, August 8th. Royal Bank of Canada reaffirmed an outperform rating and issued a $60.00 target price on shares of Nutrien in a research report on Monday, August 12th. TD Securities cut their target price on Nutrien from $69.00 to $67.00 and set a buy rating on the stock in a research report on Thursday, August 1st. BMO Capital Markets cut their price objective on Nutrien from $80.00 to $75.00 and set an outperform rating on the stock in a research report on Friday, August 9th. Finally, Piper Sandler cut their price objective on Nutrien from $56.00 to $55.00 and set an underweight rating on the stock in a research report on Tuesday, June 11th. Three analysts have rated the stock with a sell rating, four have issued a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of Hold and a consensus target price of $62.39.

Nutrien Trading Up 1.2 %

Shares of Nutrien stock opened at $46.74 on Tuesday. Nutrien has a fifty-two week low of $44.65 and a fifty-two week high of $65.00. The firm has a market cap of $23.12 billion, a PE ratio of 27.33, a P/E/G ratio of 1.50 and a beta of 0.82. The business’s fifty day moving average is $48.20 and its two-hundred day moving average is $52.04. The company has a quick ratio of 0.82, a current ratio of 1.26 and a debt-to-equity ratio of 0.37.

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

Nutrien Dividend Announcement

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 is Friday, September 27th. This represents a $2.16 dividend on an annualized basis and a yield of 4.62%. Nutrien’s dividend payout ratio (DPR) is 126.32%.

Hedge Funds Weigh In On Nutrien

Hedge funds have recently bought and sold shares of the company. Manning & Napier Advisors LLC acquired a new position in Nutrien in the second quarter valued at approximately $2,639,000. Vanguard Group Inc. boosted its stake in Nutrien by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 18,210,375 shares of the company’s stock valued at $1,025,790,000 after acquiring an additional 158,161 shares during the period. SG Americas Securities LLC boosted its stake in Nutrien by 370.1% in the first quarter. SG Americas Securities LLC now owns 58,041 shares of the company’s stock valued at $3,152,000 after acquiring an additional 45,695 shares during the period. BNP Paribas acquired a new position in Nutrien in the first quarter valued at approximately $1,146,000. Finally, Wellington Management Group LLP boosted its stake in Nutrien by 54.3% in the fourth quarter. Wellington Management Group LLP now owns 841,144 shares of the company’s stock valued at $47,620,000 after acquiring an additional 296,122 shares during the period. 63.10% of the stock is currently owned by institutional investors and hedge funds.

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.