Oppenheimer Cuts Nutrien (NYSE:NTR) Price Target to $80.00

Nutrien (NYSE:NTR) had its price objective lowered by Oppenheimer from $82.00 to $80.00 in a report released on Thursday morning,Benzinga reports. Oppenheimer currently has an outperform rating on the stock.

Other equities analysts also recently issued research reports about the stock. Scotiabank raised shares of Nutrien from a “sector perform” rating to a “sector outperform” rating and set a $80.00 price objective on the stock in a research note on Tuesday, June 30th. UBS Group lowered their target price on shares of Nutrien from $67.00 to $65.00 and set a “sell” rating for the company in a research note on Monday, May 11th. National Bank Financial set a $76.00 price target on Nutrien and gave the company an “outperform” rating in a report on Monday, July 13th. TD Securities reissued a “buy” rating on shares of Nutrien in a research note on Wednesday, May 6th. Finally, Scotia upgraded Nutrien from a “sector perform” rating to a “sector outperform” rating and set a $80.00 price objective on the stock in a report on Tuesday, June 30th. Fourteen equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $81.89.

Nutrien Trading Down 0.5%

Shares of NTR stock opened at $68.18 on Thursday. The firm has a 50-day moving average price of $66.52 and a 200 day moving average price of $70.04. Nutrien has a twelve month low of $53.03 and a twelve month high of $85.36. The company has a market capitalization of $32.61 billion, a price-to-earnings ratio of 13.89, a PEG ratio of 0.67 and a beta of 0.62. The company has a current ratio of 1.24, a quick ratio of 0.59 and a debt-to-equity ratio of 0.35.

Nutrien (NYSE:NTR) last released its earnings results on Wednesday, May 6th. The company reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.03. Nutrien had a net margin of 8.58% and a return on equity of 8.84%. The company had revenue of $6.05 billion for the quarter, compared to analyst estimates of $5.30 billion. During the same period in the prior year, the firm earned $0.11 EPS. The firm’s quarterly revenue was up 18.5% on a year-over-year basis. Research analysts forecast that Nutrien will post 5.08 earnings per share for the current fiscal year.

Nutrien Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, July 17th. Shareholders of record on Tuesday, June 30th were given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend was Tuesday, June 30th. Nutrien’s payout ratio is 44.81%.

Institutional Investors Weigh In On Nutrien

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. MH & Associates Securities Management Corp ADV purchased a new stake in shares of Nutrien during the fourth quarter valued at approximately $1,967,000. TD Waterhouse Canada Inc. lifted its position in shares of Nutrien by 4.2% during the fourth quarter. TD Waterhouse Canada Inc. now owns 2,359,022 shares of the company’s stock worth $145,257,000 after purchasing an additional 94,510 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Nutrien by 2.2% in the fourth quarter. Vanguard Group Inc. now owns 22,463,277 shares of the company’s stock valued at $1,386,546,000 after purchasing an additional 479,834 shares during the period. BCS Private Wealth Management Inc. boosted its stake in shares of Nutrien by 501.5% in the fourth quarter. BCS Private Wealth Management Inc. now owns 65,913 shares of the company’s stock valued at $4,104,000 after purchasing an additional 54,955 shares during the period. Finally, Geode Capital Management LLC grew its holdings in Nutrien by 6.8% during the 4th quarter. Geode Capital Management LLC now owns 4,833,284 shares of the company’s stock valued at $304,217,000 after purchasing an additional 309,025 shares in the last quarter. 63.10% of the stock is currently owned by institutional investors and hedge funds.

About Nutrien

Nutrien Ltd. is a global fertilizer and agricultural-services company headquartered in Saskatoon, Saskatchewan, Canada. The company is publicly traded and operates across the farm input value chain, combining upstream fertilizer production with a broad retail and services platform aimed at supporting crop production worldwide. Nutrien’s business model integrates the manufacture and distribution of crop nutrients with on-the-ground agronomic support for growers and agricultural businesses.

Nutrien produces and supplies the three primary fertilizer nutrients—potash, nitrogen and phosphate—through its wholesale operations, and markets a wide range of crop inputs including seeds and crop protection products.