Nutrien (NYSE:NTR) Given New $61.00 Price Target at Mizuho

Nutrien (NYSE:NTR) had its price objective lowered by Mizuho from $64.00 to $61.00 in a research report released on Thursday,Benzinga reports. Mizuho currently has a neutral rating on the stock.

Several other equities research analysts have also issued reports on NTR. UBS Group lowered their price objective on Nutrien from $64.00 to $63.00 and set a “neutral” rating for the company in a research note on Thursday, August 7th. Jefferies Financial Group lowered their price target on Nutrien from $61.00 to $60.00 and set a “hold” rating for the company in a research report on Tuesday, September 9th. Scotiabank dropped their price objective on shares of Nutrien from $62.00 to $60.00 and set a “sector perform” rating for the company in a research note on Monday, August 11th. Wells Fargo & Company reiterated a “cautious” rating on shares of Nutrien in a report on Thursday, October 16th. Finally, Wall Street Zen downgraded shares of Nutrien from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 5th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $62.83.

Nutrien Price Performance

Shares of Nutrien stock traded up $1.21 during trading hours on Thursday, reaching $56.80. The company’s stock had a trading volume of 1,878,204 shares, compared to its average volume of 2,364,399. The firm has a 50 day moving average price of $57.40 and a 200-day moving average price of $58.17. Nutrien has a one year low of $43.69 and a one year high of $65.08. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.33 and a quick ratio of 0.85. The stock has a market cap of $27.52 billion, a P/E ratio of 20.36, a P/E/G ratio of 0.92 and a beta of 0.83.

Nutrien (NYSE:NTR) last announced its quarterly earnings results on Wednesday, November 5th. The company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.91 by $0.06. The firm had revenue of $5.82 billion during the quarter, compared to the consensus estimate of $5.59 billion. Nutrien had a net margin of 5.25% and a return on equity of 6.51%. The firm’s revenue for the quarter was up 12.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.39 EPS. On average, analysts predict that Nutrien will post 3.72 EPS for the current year.

Nutrien Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 16th. Stockholders of record on Wednesday, December 31st will be given a $0.545 dividend. This represents a $2.18 annualized dividend and a dividend yield of 3.8%. The ex-dividend date of this dividend is Wednesday, December 31st. Nutrien’s payout ratio is presently 58.76%.

Hedge Funds Weigh In On Nutrien

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Harbour Investments Inc. lifted its position in shares of Nutrien by 94.8% during the first quarter. Harbour Investments Inc. now owns 715 shares of the company’s stock valued at $35,000 after buying an additional 348 shares during the last quarter. Root Financial Partners LLC bought a new position in shares of Nutrien during the 3rd quarter worth approximately $37,000. Huntington National Bank lifted its position in Nutrien by 72.6% during the second quarter. Huntington National Bank now owns 656 shares of the company’s stock valued at $38,000 after acquiring an additional 276 shares during the last quarter. Geneos Wealth Management Inc. boosted its stake in Nutrien by 42.4% in the second quarter. Geneos Wealth Management Inc. now owns 735 shares of the company’s stock valued at $43,000 after acquiring an additional 219 shares in the last quarter. Finally, Trust Co. of Toledo NA OH acquired a new stake in Nutrien in the second quarter valued at approximately $49,000. 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.