Raymond James Forecasts Nutrien’s Q3 Earnings (NYSE:NTR)

Nutrien Ltd. (NYSE:NTR) – Raymond James cut their Q3 2024 EPS estimates for shares of Nutrien in a research report issued on Monday, November 4th. Raymond James analyst S. Hansen now forecasts that the company will post earnings of $0.47 per share for the quarter, down from their previous estimate of $0.58. The consensus estimate for Nutrien’s current full-year earnings is $3.85 per share. Raymond James also issued estimates for Nutrien’s Q4 2024 earnings at $0.55 EPS, FY2024 earnings at $3.78 EPS and FY2025 earnings at $3.74 EPS.

Nutrien (NYSE:NTR) last released its quarterly earnings data on Wednesday, August 7th. The company reported $2.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.19 by $0.15. Nutrien had a net margin of 2.97% and a return on equity of 6.91%. The company had revenue of $10.16 billion during the quarter, compared to the consensus estimate of $10.82 billion. During the same quarter in the prior year, the firm posted $2.53 earnings per share. Nutrien’s revenue for the quarter was down 12.9% on a year-over-year basis.

Several other equities research analysts also recently weighed in on NTR. Royal Bank of Canada reissued an “outperform” rating and issued a $60.00 price objective on shares of Nutrien in a report on Friday, September 20th. Mizuho lowered their price objective on shares of Nutrien from $55.00 to $52.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. Barclays dropped their price objective on shares of Nutrien from $68.00 to $55.00 and set an “overweight” rating on the stock in a research note on Friday, August 16th. HSBC downgraded shares of Nutrien from a “hold” rating to a “reduce” rating in a research note on Friday, August 2nd. Finally, Wells Fargo & Company cut Nutrien from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $62.00 to $50.00 in a research report on Tuesday, September 24th. Three analysts have rated the stock with a sell rating, six have given a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $60.67.

Nutrien Stock Up 5.0 %

Shares of NYSE NTR opened at $50.78 on Tuesday. The business has a 50-day moving average price of $47.89 and a 200 day moving average price of $50.68. The stock has a market cap of $25.08 billion, a PE ratio of 31.74, a price-to-earnings-growth ratio of 1.57 and a beta of 0.82. 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 $60.87.

Nutrien Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Friday, September 27th were given a dividend of $0.54 per share. The ex-dividend date was Friday, September 27th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 4.25%. Nutrien’s payout ratio is 135.00%.

Institutional Investors Weigh In On Nutrien

Several institutional investors have recently modified their holdings of NTR. Lester Murray Antman dba SimplyRich raised its holdings in Nutrien by 2.3% during the second quarter. Lester Murray Antman dba SimplyRich now owns 9,069 shares of the company’s stock worth $461,000 after purchasing an additional 202 shares during the last quarter. FFT Wealth Management LLC raised its stake in shares of Nutrien by 0.8% during the 2nd quarter. FFT Wealth Management LLC now owns 29,220 shares of the company’s stock worth $1,488,000 after buying an additional 220 shares during the last quarter. Covestor Ltd raised its stake in shares of Nutrien by 33.3% during the 1st quarter. Covestor Ltd now owns 932 shares of the company’s stock worth $50,000 after buying an additional 233 shares during the last quarter. MONECO Advisors LLC grew its stake in Nutrien by 2.4% in the 2nd quarter. MONECO Advisors LLC now owns 9,791 shares of the company’s stock valued at $498,000 after acquiring an additional 233 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its stake in Nutrien by 6.5% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 4,309 shares of the company’s stock valued at $207,000 after acquiring an additional 263 shares during the last quarter. Hedge funds and other institutional investors 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.