TD Securities Cuts Nutrien (NYSE:NTR) Price Target to $61.00

Nutrien (NYSE:NTR) had its price target reduced by TD Securities from $63.00 to $61.00 in a research report released on Tuesday morning,BayStreet.CA reports. TD Securities currently has a buy rating on the stock.

Several other analysts also recently issued reports on NTR. HSBC downgraded Nutrien from a “hold” rating to a “reduce” rating in a report on Friday, August 2nd. Mizuho decreased their target price on shares of Nutrien from $55.00 to $52.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th. BMO Capital Markets dropped their target price on Nutrien from $80.00 to $75.00 and set an “outperform” rating on the stock in a report on Friday, August 9th. Wells Fargo & Company lowered Nutrien from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $62.00 to $50.00 in a report on Tuesday, September 24th. Finally, Barclays dropped their target price on shares of Nutrien from $68.00 to $55.00 and set an “overweight” rating on the stock in a report on Friday, August 16th. Three equities research 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’s stock. According to MarketBeat.com, Nutrien currently has a consensus rating of “Hold” and an average target price of $60.33.

Nutrien Trading Down 0.9 %

Shares of NTR opened at $46.37 on Tuesday. The stock has a 50-day moving average price of $47.99 and a 200 day moving average price of $50.50. Nutrien has a one year low of $44.65 and a one year high of $60.87. The company has a market capitalization of $22.90 billion, a P/E ratio of 31.12, a P/E/G ratio of 1.60 and a beta of 0.82. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.82 and a current ratio of 1.27.

Nutrien (NYSE:NTR) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.39 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.04). Nutrien had a return on equity of 6.99% and a net margin of 2.79%. The company had revenue of $5.35 billion for the quarter, compared to the consensus estimate of $5.26 billion. During the same period in the previous year, the business posted $0.35 EPS. The business’s revenue for the quarter was down 5.0% on a year-over-year basis. Sell-side analysts forecast that Nutrien will post 3.65 EPS for the current fiscal year.

Nutrien Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Tuesday, December 31st will be paid a dividend of $0.939 per share. This represents a $3.76 annualized dividend and a dividend yield of 8.10%. The ex-dividend date is Tuesday, December 31st. This is an increase from Nutrien’s previous quarterly dividend of $0.54. Nutrien’s dividend payout ratio is 144.97%.

Hedge Funds Weigh In On Nutrien

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Appian Way Asset Management LP bought a new stake in Nutrien during the 3rd quarter valued at approximately $2,475,000. Portland Investment Counsel Inc. grew its stake in shares of Nutrien by 0.6% in the third quarter. Portland Investment Counsel Inc. now owns 308,800 shares of the company’s stock worth $14,839,000 after acquiring an additional 1,800 shares during the last quarter. De Lisle Partners LLP boosted its holdings in Nutrien by 28.6% in the 3rd quarter. De Lisle Partners LLP now owns 27,000 shares of the company’s stock valued at $1,298,000 after purchasing an additional 6,000 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Nutrien in the 3rd quarter worth $150,181,000. Finally, Blueshift Asset Management LLC acquired a new position in shares of Nutrien during the third quarter valued at about $347,000. Institutional investors and hedge funds own 63.10% of the company’s stock.

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.