Nutrien (NYSE:NTR) Price Target Raised to $62.00 at Scotiabank

Nutrien (NYSE:NTR) had its price target lifted by Scotiabank from $60.00 to $62.00 in a report released on Monday, MarketBeat Ratings reports. Scotiabank currently has a sector outperform rating on the stock.

NTR has been the subject of a number of other reports. Wells Fargo & Company increased their price target on Nutrien from $53.00 to $56.00 and gave the company an “equal weight” rating in a research note on Friday, February 21st. CIBC reiterated an “outperformer” rating and issued a $55.00 target price (down from $60.00) on shares of Nutrien in a research note on Tuesday, December 10th. Piper Sandler boosted their target price on shares of Nutrien from $58.00 to $63.00 and gave the stock an “overweight” rating in a research report on Monday, January 27th. JPMorgan Chase & Co. raised shares of Nutrien from an “underweight” rating to a “neutral” rating and raised their price target for the stock from $40.00 to $50.00 in a report on Monday, January 13th. Finally, Barclays reissued an “equal weight” rating and set a $56.00 price objective (up from $55.00) on shares of Nutrien in a report on Tuesday, January 21st. One analyst has rated the stock with a sell rating, six have given a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, Nutrien currently has an average rating of “Moderate Buy” and an average price target of $60.11.

Nutrien Stock Down 0.6 %

NYSE:NTR opened at $53.21 on Monday. The company’s 50-day simple moving average is $49.82 and its 200-day simple moving average is $48.38. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.82 and a current ratio of 1.27. Nutrien has a fifty-two week low of $43.69 and a fifty-two week high of $60.87. The stock has a market capitalization of $26.06 billion, a P/E ratio of 38.84, a P/E/G ratio of 1.19 and a beta of 0.81.

Nutrien (NYSE:NTR) last announced its earnings results on Wednesday, February 19th. The company reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.09). The firm had revenue of $5.08 billion during the quarter, compared to analyst estimates of $5.09 billion. Nutrien had a net margin of 2.62% and a return on equity of 6.81%. On average, equities analysts anticipate that Nutrien will post 3.72 earnings per share for the current fiscal year.

Nutrien Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.545 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $2.18 dividend on an annualized basis and a dividend yield of 4.10%. Nutrien’s payout ratio is 159.12%.

Hedge Funds Weigh In On Nutrien

Several large investors have recently made changes to their positions in the company. Fairway Wealth LLC purchased a new position in Nutrien in the fourth quarter valued at $27,000. HHM Wealth Advisors LLC grew its position in shares of Nutrien by 331.0% during the 4th quarter. HHM Wealth Advisors LLC now owns 625 shares of the company’s stock valued at $28,000 after acquiring an additional 480 shares during the period. Assetmark Inc. increased its stake in shares of Nutrien by 1,437.5% in the 4th quarter. Assetmark Inc. now owns 738 shares of the company’s stock valued at $33,000 after purchasing an additional 690 shares in the last quarter. Asset Planning Inc acquired a new position in Nutrien in the 4th quarter worth about $35,000. Finally, Exchange Traded Concepts LLC boosted its position in Nutrien by 96.7% during the fourth quarter. Exchange Traded Concepts LLC now owns 846 shares of the company’s stock worth $38,000 after purchasing an additional 416 shares in the last quarter. 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.