Nutrien (NTR) Upgraded at Zacks Investment Research
Zacks Investment Research upgraded shares of Nutrien (NYSE:NTR) from a hold rating to a buy rating in a research note issued to investors on Wednesday morning. Zacks Investment Research currently has $63.00 target price on the stock.
According to Zacks, “Nutrien Ltd. produces and sells fertilizers and related industrial and feed products. The company’s products primarily include standard and granular potash; diammonium phosphate, monoammonium phosphate and phosphoric acid and ammonia, urea, nitric acid, ammonium nitrate and nitrogen solutions, as well as purified acids and phosphate feed products. Nutrien Ltd., formerly known as Potash Corporation of Saskatchewan Inc., is headquartered in Saskatoon, Canada. “
Other equities analysts also recently issued research reports about the stock. Scotiabank reiterated a buy rating and issued a $65.00 target price on shares of Nutrien in a research note on Friday, August 3rd. Royal Bank of Canada set a $63.00 target price on shares of Nutrien and gave the stock a buy rating in a research note on Thursday, August 2nd. TD Securities reduced their target price on shares of Nutrien from $64.00 to $60.00 and set a buy rating for the company in a research note on Monday, April 23rd. ValuEngine upgraded shares of Nutrien from a hold rating to a buy rating in a research note on Tuesday, June 26th. Finally, Citigroup lifted their target price on shares of Nutrien from $56.00 to $62.00 and gave the stock a buy rating in a research note on Wednesday, July 11th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. Nutrien currently has a consensus rating of Buy and an average price target of $61.13.
Nutrien (NYSE:NTR) last posted its earnings results on Wednesday, August 1st. The company reported $1.48 earnings per share for the quarter, topping the consensus estimate of $1.40 by $0.08. The firm had revenue of $8.15 billion during the quarter, compared to the consensus estimate of $7.70 billion. Nutrien had a net margin of 9.83% and a return on equity of 10.27%. The company’s revenue was up 10.8% compared to the same quarter last year. analysts anticipate that Nutrien will post 2.49 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 19th. Investors of record on Friday, September 28th will be paid a dividend of $0.40 per share. The ex-dividend date is Thursday, September 27th. This represents a $1.60 annualized dividend and a yield of 2.86%.
Large investors have recently modified their holdings of the stock. First Eagle Investment Management LLC purchased a new position in Nutrien in the 1st quarter worth approximately $1,291,935,000. Boston Partners purchased a new position in Nutrien in the 1st quarter worth approximately $387,104,000. CIBC Asset Management Inc purchased a new position in Nutrien in the 1st quarter worth approximately $323,312,000. Fiera Capital Corp grew its stake in Nutrien by 491.9% in the 2nd quarter. Fiera Capital Corp now owns 3,596,159 shares of the company’s stock worth $195,661,000 after buying an additional 2,988,583 shares in the last quarter. Finally, Egerton Capital UK LLP purchased a new position in Nutrien in the 2nd quarter worth approximately $144,679,000. 64.62% of the stock is owned by institutional investors.
Nutrien Company Profile
Nutrien Ltd. produces and markets crop nutrients worldwide. The company offers potash, nitrogen, phosphate, and solid and liquid phosphate fertilizers; and phosphate feed, ammonium sulfate, and industrial acid products. It also retails seeds, crop protection and crop nutrient products, merchandise products, and agronomic services through operating 1,500 retail locations.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Nutrien Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nutrien and related companies with MarketBeat.com's FREE daily email newsletter.