Analysts Set Nutrien Ltd. (NYSE:NTR) Price Target at $77.11

Nutrien Ltd. (NYSE:NTR) has received an average recommendation of “Hold” from the twenty-one research firms that are covering the firm, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation and eleven have given a buy recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $77.3333.

Several research analysts have weighed in on the stock. Canadian Imperial Bank of Commerce raised their price objective on shares of Nutrien from $81.00 to $90.00 and gave the stock an “outperformer” rating in a report on Tuesday, March 17th. Barclays increased their price target on shares of Nutrien from $70.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 3rd. Raymond James Financial lifted their price target on Nutrien from $68.00 to $74.00 and gave the stock a “market perform” rating in a research note on Friday, February 20th. Royal Bank Of Canada upped their price objective on Nutrien from $75.00 to $80.00 and gave the company an “outperform” rating in a research note on Monday, February 23rd. Finally, Oppenheimer increased their target price on Nutrien from $76.00 to $78.00 and gave the stock an “outperform” rating in a report on Thursday, February 26th.

Hedge Funds Weigh In On Nutrien

A number of hedge funds have recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Nutrien by 65.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,224 shares of the company’s stock worth $1,253,000 after purchasing an additional 9,950 shares during the period. NewEdge Advisors LLC grew its position in shares of Nutrien by 6.2% during the 1st quarter. NewEdge Advisors LLC now owns 6,907 shares of the company’s stock valued at $343,000 after buying an additional 404 shares during the last quarter. Focus Partners Wealth acquired a new stake in Nutrien during the first quarter worth about $516,000. Acadian Asset Management LLC acquired a new stake in Nutrien during the first quarter worth about $54,000. Finally, Boston Partners bought a new position in Nutrien in the second quarter worth about $150,416,000. Institutional investors and hedge funds own 63.10% of the company’s stock.

Nutrien Stock Performance

Shares of NTR opened at $73.69 on Tuesday. The firm has a market cap of $35.45 billion, a price-to-earnings ratio of 15.81 and a beta of 0.70. The company has a quick ratio of 0.70, a current ratio of 1.34 and a debt-to-equity ratio of 0.37. The business’s 50 day moving average is $72.79 and its two-hundred day moving average is $63.77. Nutrien has a 52-week low of $45.78 and a 52-week high of $85.36.

Nutrien (NYSE:NTR) last issued its quarterly earnings results on Wednesday, February 18th. The company reported $0.83 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.04). The company had revenue of $5.12 billion during the quarter, compared to the consensus estimate of $5.26 billion. Nutrien had a return on equity of 8.41% and a net margin of 8.43%.The firm’s quarterly revenue was up 5.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.31 EPS. Analysts forecast that Nutrien will post 3.72 EPS for the current fiscal year.

Nutrien Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 16th. Investors of record on Tuesday, March 31st will be given a dividend of $0.55 per share. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $2.20 annualized dividend and a dividend yield of 3.0%. This is an increase from Nutrien’s previous quarterly dividend of $0.55. Nutrien’s dividend payout ratio is currently 47.21%.

About Nutrien

Nutrien Ltd. is a global fertilizer and agricultural-services company headquartered in Saskatoon, Saskatchewan, Canada. The company is publicly traded and operates across the farm input value chain, combining upstream fertilizer production with a broad retail and services platform aimed at supporting crop production worldwide. Nutrien’s business model integrates the manufacture and distribution of crop nutrients with on-the-ground agronomic support for growers and agricultural businesses.

Nutrien produces and supplies the three primary fertilizer nutrients—potash, nitrogen and phosphate—through its wholesale operations, and markets a wide range of crop inputs including seeds and crop protection products.