Nutrien’s (NTR) Outperformer Rating Reiterated at CIBC

CIBC reaffirmed their outperformer rating on shares of Nutrien (NYSE:NTR) in a research report sent to investors on Tuesday morning,Benzinga reports. CIBC currently has a $55.00 price objective on the stock, down from their prior price objective of $60.00.

NTR has been the topic of several other reports. Scotiabank cut their price objective on shares of Nutrien from $66.00 to $59.00 and set a “sector outperform” rating on the stock in a report on Monday, August 12th. TD Securities cut their price target on Nutrien from $63.00 to $61.00 and set a “buy” rating on the stock in a report on Tuesday, November 12th. Wells Fargo & Company downgraded Nutrien from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $62.00 to $50.00 in a research report on Tuesday, September 24th. Raymond James upgraded shares of Nutrien from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $58.00 to $60.00 in a report on Tuesday, December 3rd. Finally, UBS Group cut shares of Nutrien from a “buy” rating to a “neutral” rating and lowered their price target for the company from $66.00 to $51.00 in a report on Thursday, October 10th. Three analysts have rated the stock with a sell rating, four have given a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $58.95.

Nutrien Stock Up 0.1 %

Shares of NYSE:NTR opened at $47.93 on Tuesday. The business’s 50 day moving average is $47.92 and its 200 day moving average is $49.17. The stock has a market cap of $23.67 billion, a P/E ratio of 32.23, a price-to-earnings-growth ratio of 1.69 and a beta of 0.80. Nutrien has a 52-week low of $44.65 and a 52-week high of $60.87. The company has a quick ratio of 0.82, a current ratio of 1.27 and a debt-to-equity ratio of 0.38.

Nutrien (NYSE:NTR) last announced its quarterly 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). Nutrien had a net margin of 2.79% and a return on equity of 6.99%. The firm had revenue of $5.35 billion for the quarter, compared to analysts’ expectations of $5.26 billion. During the same quarter in the prior year, the business posted $0.35 EPS. The business’s quarterly revenue was down 5.0% on a year-over-year basis. Sell-side analysts predict that Nutrien will post 3.54 EPS for the current year.

Nutrien Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Tuesday, December 31st will be given 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 yield of 7.84%. This is a positive change from Nutrien’s previous quarterly dividend of $0.54. Nutrien’s dividend payout ratio is currently 144.97%.

Institutional Trading of Nutrien

Institutional investors and hedge funds have recently bought and sold shares of the business. Bank of Montreal Can raised its holdings in shares of Nutrien by 15.5% during the second quarter. Bank of Montreal Can now owns 13,354,385 shares of the company’s stock worth $719,668,000 after purchasing an additional 1,794,333 shares during the last quarter. Silchester International Investors LLP raised its stake in shares of Nutrien by 164.4% during the 3rd quarter. Silchester International Investors LLP now owns 10,683,242 shares of the company’s stock valued at $513,437,000 after buying an additional 6,642,075 shares during the last quarter. 1832 Asset Management L.P. lifted its holdings in shares of Nutrien by 1.9% in the 2nd quarter. 1832 Asset Management L.P. now owns 9,006,528 shares of the company’s stock valued at $458,522,000 after buying an additional 167,312 shares during the period. Altshuler Shaham Ltd boosted its stake in shares of Nutrien by 8.1% in the second quarter. Altshuler Shaham Ltd now owns 5,990,374 shares of the company’s stock worth $304,970,000 after buying an additional 446,340 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in Nutrien by 8.4% during the second quarter. Dimensional Fund Advisors LP now owns 5,145,375 shares of the company’s stock worth $261,985,000 after acquiring an additional 399,348 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.