Nutrien (TSE:NTR) Shares Up 2.9% – Here’s What Happened

Nutrien Ltd. (TSE:NTR)’s share price rose 2.9% during mid-day trading on Tuesday. The company traded as high as C$99.26 and last traded at C$99.16. 2,411,231 shares traded hands during mid-day trading, an increase of 38% from the average daily volume of 1,751,807 shares. The stock had previously closed at C$96.33.

Analyst Upgrades and Downgrades

NTR has been the subject of a number of analyst reports. National Bank Financial lowered shares of Nutrien from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 25th. BNP Paribas Exane raised shares of Nutrien from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 28th. Jefferies Financial Group lowered shares of Nutrien from a “buy” rating to a “hold” rating and decreased their target price for the stock from C$96.00 to C$63.00 in a report on Thursday, July 16th. Scotiabank upgraded shares of Nutrien from a “hold” rating to a “sector outperform” rating and set a C$80.00 target price on the stock in a research note on Tuesday, June 30th. Finally, KeyCorp upgraded shares of Nutrien to a “hold” rating in a research note on Thursday, September 10th. Three analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Nutrien currently has an average rating of “Moderate Buy” and a consensus target price of C$74.33.

Nutrien Stock Down 0.7%

The company has a 50 day moving average of C$102.22 and a 200-day moving average of C$98.40. The company has a debt-to-equity ratio of 49.14, a current ratio of 1.39 and a quick ratio of 0.65. The company has a market cap of C$47.13 billion, a P/E ratio of 19.99, a price-to-earnings-growth ratio of 1.15 and a beta of 0.69.

Nutrien (TSE:NTR) last released its quarterly earnings results on Wednesday, August 5th. The company reported C$3.71 earnings per share for the quarter. Nutrien had a return on equity of 9.27% and a net margin of 8.44%. The firm had revenue of C$15.36 billion for the quarter. On average, equities analysts predict that Nutrien Ltd. will post 5.34 earnings per share for the current year.

Nutrien Company Profile

Nutrien is a leading global provider of crop inputs and services. We operate a world-class network of production, distribution and ag retail facilities that positions us to efficiently serve the needs of growers. We focus on creating long-term value by prioritizing investments that strengthen the advantages of our business across the ag value chain and by maintaining access to the resources and the relationships with stakeholders needed to achieve our goals.