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

Nutrien (NYSE:NTR) had its price target trimmed by Mizuho from $64.00 to $61.00 in a report published on Thursday,Benzinga reports. The brokerage currently has a neutral rating on the stock.

A number of other equities research analysts have also recently commented on NTR. Oppenheimer reiterated an “outperform” rating on shares of Nutrien in a research note on Wednesday, October 22nd. Jefferies Financial Group cut their price objective on shares of Nutrien from $61.00 to $60.00 and set a “hold” rating on the stock in a report on Tuesday, September 9th. Wall Street Zen downgraded Nutrien from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 5th. Scotiabank lowered their price target on Nutrien from $62.00 to $60.00 and set a “sector perform” rating for the company in a research report on Monday, August 11th. Finally, National Bankshares began coverage on Nutrien in a research note on Friday, September 5th. They set a “sector perform” rating and a $64.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Nutrien currently has an average rating of “Hold” and an average price target of $62.83.

Nutrien Stock Performance

NYSE NTR opened at $56.80 on Thursday. The company has a market cap of $27.52 billion, a P/E ratio of 20.36, a P/E/G ratio of 0.92 and a beta of 0.83. The business’s 50 day moving average price is $57.38 and its 200-day moving average price is $58.23. Nutrien has a fifty-two week low of $43.69 and a fifty-two week high of $65.08. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.85 and a current ratio of 1.33.

Nutrien (NYSE:NTR) last posted its quarterly earnings data on Wednesday, November 5th. The company reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.06. The company had revenue of $5.82 billion during the quarter, compared to analysts’ expectations of $5.59 billion. Nutrien had a return on equity of 6.51% and a net margin of 5.25%.Nutrien’s revenue was up 12.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.39 EPS. Sell-side analysts predict that Nutrien will post 3.72 earnings per share for the current year.

Nutrien Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 16th. Stockholders of record on Wednesday, December 31st will be issued a dividend of $0.545 per share. This represents a $2.18 annualized dividend and a dividend yield of 3.8%. The ex-dividend date is Wednesday, December 31st. Nutrien’s payout ratio is currently 58.76%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Principal Financial Group Inc. lifted its position in Nutrien by 25.7% in the first quarter. Principal Financial Group Inc. now owns 142,879 shares of the company’s stock valued at $7,090,000 after buying an additional 29,190 shares during the last quarter. World Investment Advisors acquired a new position in Nutrien during the 1st quarter worth about $209,000. Bank of New York Mellon Corp boosted its holdings in Nutrien by 9.4% during the 1st quarter. Bank of New York Mellon Corp now owns 499,678 shares of the company’s stock valued at $24,819,000 after acquiring an additional 42,810 shares during the period. Envestnet Asset Management Inc. grew its position in Nutrien by 27.8% in the 1st quarter. Envestnet Asset Management Inc. now owns 222,727 shares of the company’s stock valued at $11,060,000 after acquiring an additional 48,464 shares in the last quarter. Finally, Allworth Financial LP increased its stake in Nutrien by 117.1% during the first quarter. Allworth Financial LP now owns 938 shares of the company’s stock worth $50,000 after purchasing an additional 506 shares during the period. 63.10% of the stock is currently owned by institutional investors and hedge funds.

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.