Mizuho Forecasts Strong Price Appreciation for Nutrien (NYSE:NTR) Stock

Nutrien (NYSE:NTR) had its price objective lifted by Mizuho from $52.00 to $55.00 in a research note released on Thursday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

Other research analysts have also issued research reports about the stock. CIBC restated an “outperformer” rating and set a $55.00 price target (down previously from $60.00) on shares of Nutrien in a research note on Tuesday, December 10th. Barclays reiterated an “equal weight” rating and issued a $56.00 price target (up previously from $55.00) on shares of Nutrien in a report on Tuesday, January 21st. Piper Sandler boosted their target price on shares of Nutrien from $58.00 to $63.00 and gave the company an “overweight” rating in a research report on Monday, January 27th. Raymond James raised Nutrien from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $58.00 to $60.00 in a report on Tuesday, December 3rd. Finally, Scotiabank raised their target price on Nutrien from $59.00 to $60.00 and gave the stock a “sector outperform” rating in a report on Monday, February 10th. One research 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. According to MarketBeat.com, Nutrien currently has an average rating of “Moderate Buy” and a consensus target price of $59.22.

Nutrien Stock Up 1.3 %

Nutrien stock opened at $53.12 on Thursday. The business has a fifty day moving average price of $49.32 and a 200-day moving average price of $48.20. Nutrien has a 1-year low of $43.69 and a 1-year high of $60.87. The stock has a market capitalization of $26.02 billion, a price-to-earnings ratio of 38.77, a PEG ratio of 1.17 and a beta of 0.81. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.27 and a quick ratio of 0.82.

Nutrien (NYSE:NTR) last issued its quarterly 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 business had revenue of $5.08 billion for the quarter, compared to analysts’ expectations of $5.09 billion. Equities research analysts forecast that Nutrien will post 3.72 EPS for the current fiscal year.

Nutrien Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Monday, March 31st will be given a dividend of $0.545 per share. The ex-dividend date is Monday, March 31st. This represents a $2.18 annualized dividend and a dividend yield of 4.10%. Nutrien’s dividend payout ratio (DPR) is presently 157.67%.

Institutional Investors Weigh In On Nutrien

Several institutional investors have recently bought and sold shares of NTR. Creative Planning lifted its position in shares of Nutrien by 1.3% in the third quarter. Creative Planning now owns 36,524 shares of the company’s stock valued at $1,755,000 after acquiring an additional 473 shares in the last quarter. International Assets Investment Management LLC acquired a new position in Nutrien in the 3rd quarter valued at $2,296,000. Keene & Associates Inc. lifted its holdings in Nutrien by 3.2% in the 3rd quarter. Keene & Associates Inc. now owns 58,444 shares of the company’s stock valued at $2,809,000 after purchasing an additional 1,803 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in Nutrien by 17.9% during the 3rd quarter. Assenagon Asset Management S.A. now owns 20,563 shares of the company’s stock worth $989,000 after purchasing an additional 3,120 shares during the last quarter. Finally, Mraz Amerine & Associates Inc. grew its holdings in shares of Nutrien by 11.9% during the third quarter. Mraz Amerine & Associates Inc. now owns 22,949 shares of the company’s stock worth $1,103,000 after buying an additional 2,441 shares in the last quarter. 63.10% of the stock is currently owned by institutional investors and hedge funds.

About Nutrien

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.