Mizuho Issues Positive Forecast for Nutrien (NYSE:NTR) Stock Price

Nutrien (NYSE:NTR) had its target price hoisted by Mizuho from $52.00 to $55.00 in a research report sent to investors on Thursday morning,Benzinga reports. They currently have a neutral rating on the stock.

Other equities research analysts also recently issued reports about the company. UBS Group upped their price objective on Nutrien from $53.00 to $54.00 and gave the company a “neutral” rating in a research report on Thursday. Piper Sandler raised their price target on Nutrien from $58.00 to $63.00 and gave the stock an “overweight” rating in a research report on Monday, January 27th. Raymond James upgraded shares of Nutrien from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $58.00 to $60.00 in a research report on Tuesday, December 3rd. Scotiabank raised their target price on shares of Nutrien from $59.00 to $60.00 and gave the stock a “sector outperform” rating in a report on Monday, February 10th. Finally, TD Securities cut their price target on shares of Nutrien from $63.00 to $61.00 and set a “buy” rating on the stock in a report on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $59.22.

Nutrien Stock Performance

NTR opened at $53.12 on Thursday. The stock has a market capitalization of $26.02 billion, a price-to-earnings ratio of 38.77, a PEG ratio of 1.17 and a beta of 0.81. Nutrien has a fifty-two week low of $43.69 and a fifty-two week high of $60.87. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.82 and a current ratio of 1.27. The company has a fifty day moving average of $49.32 and a 200 day moving average of $48.20.

Nutrien (NYSE:NTR) last issued its earnings results on Wednesday, February 19th. The company reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.09). The firm had revenue of $5.08 billion during the quarter, compared to the consensus estimate of $5.09 billion. Nutrien had a return on equity of 6.81% and a net margin of 2.62%. As a group, sell-side analysts forecast that Nutrien will post 3.72 earnings per share for the current fiscal year.

Nutrien Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Monday, March 31st will be issued a $0.545 dividend. The ex-dividend date is Monday, March 31st. This represents a $2.18 annualized dividend and a dividend yield of 4.10%. Nutrien’s dividend payout ratio is currently 157.67%.

Hedge Funds Weigh In On Nutrien

Several institutional investors have recently bought and sold shares of NTR. Fairway Wealth LLC bought a new stake in Nutrien during the 4th quarter valued at $27,000. HHM Wealth Advisors LLC lifted its stake in shares of Nutrien by 331.0% during the 4th quarter. HHM Wealth Advisors LLC now owns 625 shares of the company’s stock worth $28,000 after purchasing an additional 480 shares during the last quarter. Assetmark Inc. boosted its position in Nutrien by 1,437.5% during the fourth quarter. Assetmark Inc. now owns 738 shares of the company’s stock valued at $33,000 after purchasing an additional 690 shares in the last quarter. Asset Planning Inc bought a new stake in Nutrien during the fourth quarter valued at about $35,000. Finally, Exchange Traded Concepts LLC grew its stake in Nutrien by 96.7% in the fourth quarter. Exchange Traded Concepts LLC now owns 846 shares of the company’s stock valued at $38,000 after purchasing an additional 416 shares during the last quarter. 63.10% of the stock is owned by hedge funds and other institutional investors.

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.