Nutrien (NYSE:NTR) Shares Down 4.5% – Here’s What Happened

Shares of Nutrien Ltd. (NYSE:NTR) dropped 4.5% on Monday . The stock traded as low as $66.05 and last traded at $65.9670. 947,114 shares were traded during trading, a decline of 70% from the average session volume of 3,178,857 shares. The stock had previously closed at $69.07.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on NTR. Raymond James Financial upgraded shares of Nutrien from a “market perform” rating to an “outperform” rating and upped their target price for the company from $74.00 to $90.00 in a research note on Tuesday, May 5th. JPMorgan Chase & Co. boosted their price objective on Nutrien from $78.00 to $80.00 and gave the company an “overweight” rating in a report on Monday, May 11th. BNP Paribas Exane upgraded Nutrien from a “neutral” rating to an “outperform” rating and set a $80.00 price objective on the stock in a research note on Tuesday, July 28th. UBS Group reduced their target price on Nutrien from $67.00 to $65.00 and set a “sell” rating on the stock in a report on Monday, May 11th. Finally, National Bank Financial set a $76.00 target price on Nutrien and gave the stock an “outperform” rating in a research report on Monday, July 13th. Sixteen analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Nutrien has a consensus rating of “Moderate Buy” and a consensus target price of $81.84.

Nutrien Stock Down 4.6%

The company has a debt-to-equity ratio of 0.35, a current ratio of 1.24 and a quick ratio of 0.59. The stock’s fifty day simple moving average is $66.39 and its 200-day simple moving average is $70.43. The stock has a market cap of $31.52 billion, a P/E ratio of 13.38, a PEG ratio of 0.69 and a beta of 0.62.

Nutrien (NYSE:NTR) last posted its earnings results on Wednesday, May 6th. The company reported $0.51 EPS for the quarter, beating the consensus estimate of $0.48 by $0.03. The company had revenue of $6.05 billion during the quarter, compared to analyst estimates of $5.30 billion. Nutrien had a return on equity of 8.84% and a net margin of 8.58%.The business’s revenue was up 18.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.11 earnings per share. On average, research analysts anticipate that Nutrien Ltd. will post 5.01 earnings per share for the current year.

Nutrien Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 17th. Investors of record on Tuesday, June 30th were paid a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date was Tuesday, June 30th. Nutrien’s dividend payout ratio is presently 44.81%.

Institutional Investors Weigh In On Nutrien

Hedge funds have recently added to or reduced their stakes in the stock. MH & Associates Securities Management Corp ADV bought a new stake in Nutrien during the 4th quarter valued at $1,967,000. TD Waterhouse Canada Inc. grew its stake in shares of Nutrien by 4.2% in the fourth quarter. TD Waterhouse Canada Inc. now owns 2,359,022 shares of the company’s stock worth $145,257,000 after purchasing an additional 94,510 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Nutrien by 2.2% during the fourth quarter. Vanguard Group Inc. now owns 22,463,277 shares of the company’s stock valued at $1,386,546,000 after purchasing an additional 479,834 shares during the period. BCS Private Wealth Management Inc. raised its stake in shares of Nutrien by 501.5% during the fourth quarter. BCS Private Wealth Management Inc. now owns 65,913 shares of the company’s stock valued at $4,104,000 after purchasing an additional 54,955 shares in the last quarter. Finally, Black Creek Investment Management Inc. raised its holdings in Nutrien by 7.9% during the fourth quarter. Black Creek Investment Management Inc. now owns 2,553,108 shares of the company’s stock worth $157,796,000 after purchasing an additional 185,864 shares in the last quarter. 63.10% of the stock is currently owned by institutional investors.

Nutrien Company Profile

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.