Nutrien (NYSE:NTR) Given New $66.00 Price Target at CIBC

Nutrien (NYSE:NTR) had its target price hoisted by CIBC from $64.00 to $66.00 in a research note issued to investors on Tuesday, MarketBeat reports. CIBC currently has an outperformer rating on the stock.

Several other research firms have also recently issued reports on NTR. Royal Bank of Canada reaffirmed an “outperform” rating and set a $60.00 price objective on shares of Nutrien in a research report on Monday. Oppenheimer began coverage on Nutrien in a research note on Thursday, December 12th. They issued an “outperform” rating and a $60.00 price target on the stock. Scotiabank upped their price objective on Nutrien from $60.00 to $62.00 and gave the stock a “sector outperform” rating in a research report on Monday. TD Securities cut their target price on Nutrien from $63.00 to $61.00 and set a “buy” rating on the stock in a research report on Tuesday, November 12th. Finally, Piper Sandler boosted their target price on Nutrien from $58.00 to $63.00 and gave the stock an “overweight” rating in a research note on Monday, January 27th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, Nutrien currently has an average rating of “Moderate Buy” and an average price target of $60.11.

Nutrien Price Performance

NTR stock opened at $53.60 on Tuesday. The business’s 50-day moving average is $49.66 and its two-hundred day moving average is $48.35. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.27 and a quick ratio of 0.82. The firm has a market capitalization of $26.25 billion, a P/E ratio of 39.12, a P/E/G ratio of 1.19 and a beta of 0.81. Nutrien has a 1 year low of $43.69 and a 1 year high of $60.87.

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

Nutrien Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Monday, March 31st will be issued a $0.545 dividend. The ex-dividend date is Monday, March 31st. This represents a $2.18 dividend on an annualized basis and a dividend yield of 4.07%. Nutrien’s payout ratio is 159.12%.

Hedge Funds Weigh In On Nutrien

A number of hedge funds and other institutional investors have recently made changes to their positions in NTR. Fairway Wealth LLC acquired a new stake in Nutrien during the 4th quarter worth approximately $27,000. HHM Wealth Advisors LLC raised its stake in shares of Nutrien by 331.0% during the fourth quarter. HHM Wealth Advisors LLC now owns 625 shares of the company’s stock worth $28,000 after purchasing an additional 480 shares during the last quarter. Assetmark Inc. lifted its holdings in shares of Nutrien by 1,437.5% during the fourth quarter. Assetmark Inc. now owns 738 shares of the company’s stock worth $33,000 after purchasing an additional 690 shares during the period. Asset Planning Inc purchased a new position in Nutrien in the 4th quarter valued at $35,000. Finally, Exchange Traded Concepts LLC increased its stake in Nutrien by 96.7% in the 4th quarter. Exchange Traded Concepts LLC now owns 846 shares of the company’s stock valued at $38,000 after buying an additional 416 shares during the period. Hedge funds and other institutional investors own 63.10% of the company’s stock.

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.