Nutrien (NYSE:NTR) Share Price Breaks Above 200 Day Moving Average on Disappointing Earnings

Nutrien Ltd. (NYSE:NTR) passed above its two hundred day moving average during trading on Wednesday following a better than expected earnings announcement. The stock has a two hundred day moving average of $71.06 and traded as high as $72.14. Nutrien shares last traded at $72.0510, with a volume of 3,439,787 shares.

The company reported $0.61 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.13). Nutrien had a net margin of 8.44% and a return on equity of 8.88%. The company’s revenue was up .9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.97 earnings per share.

Key Headlines Impacting Nutrien

Here are the key news stories impacting Nutrien this week:

• Positive Sentiment: Revenue was $6.06 billion, topping the $5.76 billion FactSet estimate, and Nutrien declared a quarterly dividend of US$0.55 per share. Revenue report Dividend announcement
• Neutral Sentiment: The company reported $1.31 billion in adjusted EBITDA and said it generated $4.85 billion in adjusted EBITDA over the first nine months of the year. Third-quarter results
• Negative Sentiment: Adjusted earnings per share were $0.61, below the $0.74 consensus and down from $0.97 a year earlier. Net profit fell 39% to about $290 million, despite the revenue beat. Earnings estimate comparison Profit decline report
• Negative Sentiment: Reports cited higher sulfur costs and a phosphate business downturn as factors behind the earnings shortfall. Nutrien also plans to close its Florida plant, adding to concerns about near-term operating pressures. Costs and Florida plant report

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Weiss Ratings downgraded Nutrien from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, October 19th. Freedom Broker started coverage on shares of Nutrien in a research report on Tuesday, October 27th. They issued a “hold” rating and a $78.00 target price for the company. UBS Group increased their price target on shares of Nutrien from $59.00 to $62.00 and gave the company a “sell” rating in a research report on Tuesday, October 27th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $71.00 price objective on shares of Nutrien in a research note on Monday, October 12th. Finally, Morgan Stanley reduced their target price on shares of Nutrien from $93.00 to $81.00 and set an “overweight” rating on the stock in a report on Tuesday, July 7th. Sixteen analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $79.24.

Hedge Funds Weigh In On Nutrien

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Thurston Springer Miller Herd & Titak Inc. increased its stake in Nutrien by 1,014.0% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 479 shares of the company’s stock worth $30,000 after purchasing an additional 436 shares during the period. Global Retirement Partners LLC purchased a new stake in shares of Nutrien during the second quarter valued at approximately $30,000. Allied Private Wealth LLC purchased a new stake in shares of Nutrien during the second quarter valued at approximately $33,000. BOK Financial Private Wealth Inc. purchased a new stake in shares of Nutrien during the second quarter valued at approximately $51,000. Finally, Allworth Financial LP bought a new position in shares of Nutrien in the second quarter worth approximately $52,000. 63.10% of the stock is currently owned by institutional investors.

Nutrien Price Performance

The company has a quick ratio of 0.86, a current ratio of 1.39 and a debt-to-equity ratio of 0.36. The stock has a market cap of $34.24 billion, a P/E ratio of 14.59, a PEG ratio of 0.77 and a beta of 0.67. The firm’s fifty day moving average price is $72.92 and its 200-day moving average price is $71.06.

Nutrien Company Profile