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

Nutrien (NYSE:NTR) had its price objective hoisted by Piper Sandler from $58.00 to $63.00 in a research note published on Monday,Benzinga reports. The firm currently has an overweight rating on the stock.

Other equities analysts have also issued research reports about the stock. Oppenheimer assumed coverage on shares of Nutrien in a report on Thursday, December 12th. They issued an “outperform” rating and a $60.00 price target for the company. JPMorgan Chase & Co. raised Nutrien from an “underweight” rating to a “neutral” rating and boosted their target price for the company from $40.00 to $50.00 in a research note on Monday, January 13th. UBS Group lowered Nutrien from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $66.00 to $51.00 in a research report on Thursday, October 10th. Barclays reiterated an “equal weight” rating and issued a $56.00 price objective (up from $55.00) on shares of Nutrien in a research report on Tuesday, January 21st. Finally, Raymond James raised Nutrien from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $58.00 to $60.00 in a research note on Tuesday, December 3rd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $58.94.

Nutrien Price Performance

Shares of NTR opened at $53.04 on Monday. The stock has a market cap of $26.05 billion, a P/E ratio of 35.60, a price-to-earnings-growth ratio of 1.17 and a beta of 0.81. Nutrien has a 1 year low of $43.69 and a 1 year high of $60.87. The stock’s 50-day moving average price is $47.88 and its two-hundred day moving average price is $48.02. The company has a current ratio of 1.27, a quick ratio of 0.82 and a debt-to-equity ratio of 0.38.

Nutrien (NYSE:NTR) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.04). The firm had revenue of $5.35 billion for the quarter, compared to the consensus estimate of $5.26 billion. Nutrien had a return on equity of 6.99% and a net margin of 2.79%. The firm’s revenue was down 5.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.35 EPS. On average, equities analysts predict that Nutrien will post 3.5 earnings per share for the current year.

Nutrien Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Tuesday, December 31st were given a dividend of $0.939 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This is a boost from Nutrien’s previous quarterly dividend of $0.54. This represents a $3.76 annualized dividend and a yield of 7.08%. Nutrien’s payout ratio is 144.97%.

Hedge Funds Weigh In On Nutrien

Several hedge funds have recently modified their holdings of the stock. Central Pacific Bank Trust Division bought a new stake in Nutrien during the third quarter worth about $28,000. HHM Wealth Advisors LLC increased its position 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. Exchange Traded Concepts LLC raised its stake in shares of Nutrien by 96.7% during the 4th quarter. Exchange Traded Concepts LLC now owns 846 shares of the company’s stock worth $38,000 after purchasing an additional 416 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Nutrien during the 2nd quarter worth approximately $52,000. Finally, Union Bancaire Privee UBP SA acquired a new stake in shares of Nutrien in the 4th quarter valued at approximately $67,000. Institutional investors 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.