Nutrien (NYSE:NTR) Shares Gap Up – Here’s What Happened

Nutrien Ltd. (NYSE:NTR)’s share price gapped up prior to trading on Monday . The stock had previously closed at $48.36, but opened at $50.50. Nutrien shares last traded at $50.50, with a volume of 713,562 shares traded.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. HSBC cut shares of Nutrien from a “hold” rating to a “reduce” rating in a report on Friday, August 2nd. Royal Bank of Canada reiterated an “outperform” rating and set a $60.00 price target on shares of Nutrien in a research report on Friday, September 20th. Wells Fargo & Company lowered Nutrien from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $62.00 to $50.00 in a research report on Tuesday, September 24th. Mizuho dropped their target price on Nutrien from $55.00 to $52.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. Finally, BMO Capital Markets lowered their price target on shares of Nutrien from $80.00 to $75.00 and set an “outperform” rating for the company in a research report on Friday, August 9th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $60.44.

Nutrien Stock Down 0.3 %

The stock has a 50 day moving average price of $47.93 and a 200 day moving average price of $50.66. The company has a market cap of $25.00 billion, a P/E ratio of 31.63, a P/E/G ratio of 1.57 and a beta of 0.82. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.82 and a current ratio of 1.26.

Nutrien (NYSE:NTR) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $2.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.19 by $0.15. The firm had revenue of $10.16 billion for the quarter, compared to analyst estimates of $10.82 billion. Nutrien had a net margin of 2.97% and a return on equity of 6.91%. The firm’s quarterly revenue was down 12.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.53 earnings per share. Research analysts expect that Nutrien Ltd. will post 3.85 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Nutrien

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Silchester International Investors LLP grew its position in Nutrien by 164.4% during the 3rd quarter. Silchester International Investors LLP now owns 10,683,242 shares of the company’s stock worth $513,437,000 after purchasing an additional 6,642,075 shares in the last quarter. Bank of Montreal Can boosted its position in Nutrien by 15.5% during the 2nd quarter. Bank of Montreal Can now owns 13,354,385 shares of the company’s stock worth $719,668,000 after acquiring an additional 1,794,333 shares during the period. National Bank of Canada FI grew its stake in Nutrien by 34.0% during the 2nd quarter. National Bank of Canada FI now owns 4,066,629 shares of the company’s stock valued at $205,385,000 after acquiring an additional 1,032,763 shares in the last quarter. 1832 Asset Management L.P. increased its holdings in shares of Nutrien by 10.6% in the 1st quarter. 1832 Asset Management L.P. now owns 8,839,216 shares of the company’s stock valued at $480,058,000 after purchasing an additional 844,559 shares during the period. Finally, Public Sector Pension Investment Board purchased a new stake in shares of Nutrien in the second quarter worth approximately $38,176,000. 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.