Nutrien’s (NTR) “Outperform” Rating Reiterated at Royal Bank Of Canada

Royal Bank Of Canada reissued their outperform rating on shares of Nutrien (NYSE:NTR) in a research report released on Friday, Marketbeat Ratings reports. The firm currently has a $85.00 price objective on the stock.

A number of other research firms also recently commented on NTR. National Bank Financial dropped their price objective on Nutrien from $76.00 to $74.00 and set an “outperform” rating for the company in a report on Monday, August 10th. Berenberg Bank set a $65.00 target price on Nutrien and gave the stock a “hold” rating in a report on Wednesday, June 10th. Mizuho decreased their target price on Nutrien from $77.00 to $75.00 and set a “neutral” rating for the company in a research report on Tuesday, July 14th. Scotiabank raised Nutrien from a “sector perform” rating to a “sector outperform” rating and set a $80.00 price target for the company in a research note on Tuesday, June 30th. Finally, Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Nutrien in a research report on Monday, August 10th. Seventeen research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Nutrien has an average rating of “Moderate Buy” and a consensus price target of $81.15.

Nutrien Price Performance

NTR opened at $77.12 on Friday. The company has a fifty day moving average price of $71.95 and a two-hundred day moving average price of $71.28. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.86 and a current ratio of 1.39. Nutrien has a 52 week low of $53.03 and a 52 week high of $85.36. The firm has a market capitalization of $36.72 billion, a PE ratio of 15.61, a P/E/G ratio of 0.83 and a beta of 0.62.

Nutrien (NYSE:NTR) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $2.61 earnings per share for the quarter, missing analysts’ consensus estimates of $2.70 by ($0.09). Nutrien had a net margin of 8.44% and a return on equity of 8.88%. The company had revenue of $10.81 billion during the quarter, compared to analyst estimates of $10.44 billion. During the same period last year, the company earned $2.65 EPS. The business’s revenue for the quarter was up 3.6% compared to the same quarter last year. As a group, analysts anticipate that Nutrien will post 4.66 earnings per share for the current year.

Nutrien Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 16th. Investors of record on Tuesday, September 29th will be paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend is Tuesday, September 29th. Nutrien’s dividend payout ratio (DPR) is presently 44.53%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Wellington Management Group LLP bought a new stake in shares of Nutrien in the second quarter worth about $654,081,000. Deutsche Bank AG lifted its holdings in shares of Nutrien by 2.0% during the 4th quarter. Deutsche Bank AG now owns 9,798,196 shares of the company’s stock valued at $604,745,000 after purchasing an additional 189,683 shares in the last quarter. TD Asset Management Inc grew its position in shares of Nutrien by 21.2% in the 4th quarter. TD Asset Management Inc now owns 8,928,534 shares of the company’s stock valued at $551,821,000 after purchasing an additional 1,559,673 shares during the period. Norges Bank acquired a new position in shares of Nutrien in the 4th quarter valued at approximately $412,635,000. Finally, The Manufacturers Life Insurance Company bought a new stake in Nutrien during the 2nd quarter worth approximately $375,178,000. 63.10% of the stock is currently owned by institutional investors.

Nutrien Company Profile

Nutrien Ltd. (NYSE:NTR) is a global provider of crop inputs and agricultural services. The company produces and distributes essential nutrients, including potash, nitrogen and phosphate products, which farmers use to support crop growth and improve yields.

Through its retail operations, Nutrien supplies farmers with seed, crop protection products, fertilizers and agronomic services. Its retail network also provides farm management recommendations, application services and other solutions designed to help growers manage their operations and use agricultural inputs more efficiently.

Nutrien was formed in 2018 through the merger of Potash Corporation of Saskatchewan and Agrium.