Scotiabank Cuts Nutrien (NYSE:NTR) Price Target to $59.00

Nutrien (NYSE:NTR) had its target price cut by Scotiabank from $66.00 to $59.00 in a research note issued to investors on Monday morning, Benzinga reports. They currently have a sector outperform rating on the stock.

Other equities research analysts have also recently issued reports about the stock. BMO Capital Markets reduced their target price on shares of Nutrien from $80.00 to $75.00 and set an outperform rating for the company in a report on Friday, August 9th. Mizuho reduced their target price on shares of Nutrien from $55.00 to $52.00 and set a neutral rating for the company in a report on Thursday, August 8th. UBS Group reduced their target price on shares of Nutrien from $67.00 to $66.00 and set a buy rating for the company in a report on Tuesday, July 9th. Royal Bank of Canada reduced their target price on shares of Nutrien from $70.00 to $60.00 and set an outperform rating for the company in a report on Monday, July 15th. Finally, Berenberg Bank raised shares of Nutrien from a hold rating to a buy rating and upped their target price for the company from $60.00 to $66.00 in a report on Monday, April 29th. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus target price of $64.50.

Nutrien Price Performance

Shares of NTR opened at $46.34 on Monday. Nutrien has a 1-year low of $44.90 and a 1-year high of $65.69. The stock has a market cap of $22.92 billion, a PE ratio of 27.10, a price-to-earnings-growth ratio of 1.52 and a beta of 0.83. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.26 and a quick ratio of 0.82. The firm has a fifty day moving average price of $50.13 and a 200 day moving average price of $52.56.

Nutrien (NYSE:NTR) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $2.34 earnings per share for the quarter, beating analysts’ consensus estimates of $2.19 by $0.15. Nutrien had a net margin of 2.97% and a return on equity of 6.91%. The firm had revenue of $10.16 billion during the quarter, compared to analysts’ expectations of $10.82 billion. During the same period in the previous year, the company earned $2.53 earnings per share. Nutrien’s quarterly revenue was down 12.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Nutrien will post 3.78 EPS for the current year.

Nutrien Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 18th. Shareholders of record on Friday, September 27th will be given a dividend of $0.54 per share. The ex-dividend date is Friday, September 27th. This represents a $2.16 annualized dividend and a yield of 4.66%. Nutrien’s payout ratio is currently 126.32%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Family Firm Inc. acquired a new position in Nutrien during the second quarter worth about $32,000. GoalVest Advisory LLC acquired a new stake in shares of Nutrien in the first quarter valued at approximately $35,000. Evolution Advisers Inc. acquired a new stake in shares of Nutrien in the fourth quarter valued at approximately $49,000. Trust Co. of Vermont grew its position in shares of Nutrien by 50.0% in the second quarter. Trust Co. of Vermont now owns 900 shares of the company’s stock valued at $46,000 after purchasing an additional 300 shares during the last quarter. Finally, Covestor Ltd grew its position in shares of Nutrien by 33.3% in the first quarter. Covestor Ltd now owns 932 shares of the company’s stock valued at $50,000 after purchasing an additional 233 shares during 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.