Nutrien (NYSE:NTR) Cut to Equal Weight at Wells Fargo & Company

Wells Fargo & Company lowered shares of Nutrien (NYSE:NTR) from an overweight rating to an equal weight rating in a research note published on Tuesday, MarketBeat Ratings reports. They currently have $50.00 price target on the stock, down from their prior price target of $62.00.

Other equities research analysts also recently issued reports about the company. Royal Bank of Canada restated an outperform rating and set a $60.00 price objective on shares of Nutrien in a report on Friday, September 20th. Hsbc Global Res downgraded Nutrien from a hold rating to a moderate sell rating in a report on Friday, August 2nd. Barclays lowered their price target on Nutrien from $68.00 to $55.00 and set an overweight rating for the company in a report on Friday, August 16th. UBS Group lowered their price target on Nutrien from $67.00 to $66.00 and set a buy rating for the company in a report on Tuesday, July 9th. Finally, Mizuho lowered their price target on Nutrien from $55.00 to $52.00 and set a neutral rating for the company in a report on Thursday, August 8th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of Hold and an average price target of $61.50.

Nutrien Price Performance

NTR stock opened at $48.25 on Tuesday. 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 has a 52-week low of $44.65 and a 52-week high of $63.60. The stock’s 50 day moving average is $47.74 and its two-hundred day moving average is $51.72. The company has a market capitalization of $23.87 billion, a PE ratio of 28.22, a P/E/G ratio of 1.55 and a beta of 0.82.

Nutrien (NYSE:NTR) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $2.34 earnings per share (EPS) for the quarter, topping the consensus estimate 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 the consensus estimate of $10.82 billion. During the same period in the previous year, the business earned $2.53 EPS. Nutrien’s revenue for the quarter was down 12.9% compared to the same quarter last year. Analysts predict that Nutrien will post 3.83 earnings per share for the current fiscal year.

Nutrien Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 18th. Investors of record on Friday, September 27th will be given a dividend of $0.54 per share. The ex-dividend date is Friday, September 27th. This represents a $2.16 dividend on an annualized basis and a yield of 4.48%. Nutrien’s dividend payout ratio is currently 126.32%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Family Firm Inc. acquired a new position in Nutrien during the 2nd quarter worth $32,000. GoalVest Advisory LLC acquired a new position in Nutrien during the 1st quarter worth $35,000. Trust Co. of Vermont boosted its position in Nutrien by 50.0% during the 2nd quarter. Trust Co. of Vermont now owns 900 shares of the company’s stock worth $46,000 after acquiring an additional 300 shares during the period. Covestor Ltd boosted its position in Nutrien by 33.3% during the 1st quarter. Covestor Ltd now owns 932 shares of the company’s stock worth $50,000 after acquiring an additional 233 shares during the period. Finally, Andra AP fonden acquired a new position in Nutrien during the 2nd quarter worth $51,000. Institutional investors and hedge funds own 63.10% of the company’s stock.

About Nutrien

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.