UBS Group Trims Nutrien (NYSE:NTR) Target Price to $66.00

Nutrien (NYSE:NTR) had its target price cut by UBS Group from $67.00 to $66.00 in a research report sent to investors on Tuesday morning, Benzinga reports. They currently have a buy rating on the stock.

Other equities research analysts have also issued research reports about the stock. Jefferies Financial Group assumed coverage on shares of Nutrien in a report on Tuesday, March 26th. They issued a buy rating and a $62.00 price target for the company. Wells Fargo & Company boosted their price target on shares of Nutrien from $67.00 to $68.00 and gave the stock an overweight rating in a report on Friday, May 10th. Scotiabank cut their price target on shares of Nutrien from $67.00 to $66.00 and set an outperform rating for the company in a report on Monday, May 13th. Berenberg Bank raised shares of Nutrien from a hold rating to a buy rating and boosted their price target for the stock from $60.00 to $66.00 in a report on Monday, April 29th. Finally, Mizuho upped their target price on shares of Nutrien from $54.00 to $56.00 and gave the stock an underweight rating in a report on Friday, May 17th. Three research analysts have rated the stock with a sell rating, four have given a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus price target of $66.26.

Nutrien Stock Performance

NTR opened at $49.69 on Tuesday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.15 and a quick ratio of 0.53. The firm has a fifty day moving average price of $54.30 and a 200 day moving average price of $53.31. Nutrien has a 1 year low of $47.86 and a 1 year high of $69.12. The stock has a market cap of $24.58 billion, a P/E ratio of 29.06, a P/E/G ratio of 1.57 and a beta of 0.83.

Nutrien (NYSE:NTR) last posted its earnings results on Wednesday, May 8th. The company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.11. The firm had revenue of $5.39 billion during the quarter, compared to analysts’ expectations of $5.38 billion. Nutrien had a net margin of 3.01% and a return on equity of 7.31%. Equities research analysts anticipate that Nutrien will post 3.84 earnings per share for the current year.

Nutrien Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 19th. Stockholders of record on Friday, June 28th will be given a dividend of $0.54 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $2.16 annualized dividend and a dividend yield of 4.35%. Nutrien’s payout ratio is 126.32%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Norges Bank acquired a new position in Nutrien in the fourth quarter valued at about $332,716,000. ARGA Investment Management LP lifted its position in Nutrien by 120.2% in the first quarter. ARGA Investment Management LP now owns 3,780,881 shares of the company’s stock valued at $205,421,000 after buying an additional 2,063,881 shares during the last quarter. TD Asset Management Inc lifted its position in Nutrien by 28.6% in the fourth quarter. TD Asset Management Inc now owns 9,226,352 shares of the company’s stock valued at $522,309,000 after buying an additional 2,050,358 shares during the last quarter. Parnassus Investments LLC lifted its position in Nutrien by 19.5% in the fourth quarter. Parnassus Investments LLC now owns 12,017,181 shares of the company’s stock valued at $676,928,000 after buying an additional 1,960,162 shares during the last quarter. Finally, ANTIPODES PARTNERS Ltd lifted its position in Nutrien by 18,312.9% in the fourth quarter. ANTIPODES PARTNERS Ltd now owns 1,595,295 shares of the company’s stock valued at $89,862,000 after buying an additional 1,586,631 shares during the last quarter. Institutional investors and hedge funds 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.