Barclays Reaffirms “Equal Weight” Rating for Nutrien (NYSE:NTR)

Barclays restated their equal weight rating on shares of Nutrien (NYSE:NTR) in a report released on Tuesday, MarketBeat.com reports. Barclays currently has a $56.00 price target on the stock, up from their prior price target of $55.00.

A number of other analysts have also weighed in on the stock. TD Securities decreased their target price on shares of Nutrien from $63.00 to $61.00 and set a “buy” rating on the stock in a report on Tuesday, November 12th. Piper Sandler raised shares of Nutrien from an “underweight” rating to an “overweight” rating and upped their price target for the stock from $50.00 to $58.00 in a report on Monday, January 13th. Wells Fargo & Company lowered Nutrien from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $62.00 to $50.00 in a research note on Tuesday, September 24th. CIBC restated an “outperformer” rating and issued a $55.00 target price (down from $60.00) on shares of Nutrien in a research note on Tuesday, December 10th. Finally, Oppenheimer began coverage on Nutrien in a research report on Thursday, December 12th. They set an “outperform” rating and a $60.00 price target for the company. One analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $58.39.

Nutrien Trading Up 2.3 %

NYSE:NTR opened at $53.81 on Tuesday. Nutrien has a 1 year low of $43.69 and a 1 year high of $60.87. The stock’s fifty day moving average price is $47.33 and its two-hundred day moving average price is $47.92. 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 company has a market cap of $26.42 billion, a P/E ratio of 36.11, a P/E/G ratio of 1.14 and a beta of 0.81.

Nutrien (NYSE:NTR) last issued its earnings results on Wednesday, November 6th. The company reported $0.39 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.04). Nutrien had a return on equity of 6.99% and a net margin of 2.79%. The company had revenue of $5.35 billion during the quarter, compared to the consensus estimate of $5.26 billion. During the same quarter in the prior year, the business earned $0.35 EPS. The firm’s revenue for the quarter was down 5.0% compared to the same quarter last year. As a group, analysts expect that Nutrien will post 3.5 EPS for the current year.

Nutrien Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Tuesday, December 31st were given a dividend of $0.939 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $3.76 annualized dividend and a yield of 6.98%. This is a boost from Nutrien’s previous quarterly dividend of $0.54. Nutrien’s dividend payout ratio is presently 144.97%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Central Pacific Bank Trust Division purchased a new stake in shares of Nutrien in the 3rd quarter worth about $28,000. Exchange Traded Concepts LLC raised its stake in Nutrien by 96.7% in the fourth quarter. Exchange Traded Concepts LLC now owns 846 shares of the company’s stock worth $38,000 after buying an additional 416 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in Nutrien during the 2nd quarter valued at approximately $52,000. Union Bancaire Privee UBP SA purchased a new position in shares of Nutrien during the 4th quarter worth approximately $67,000. Finally, Larson Financial Group LLC raised its position in shares of Nutrien by 1,370.6% in the 3rd quarter. Larson Financial Group LLC now owns 1,603 shares of the company’s stock worth $77,000 after acquiring an additional 1,494 shares in the last quarter. 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.