TD Securities Forecasts Strong Price Appreciation for Nutrien (NYSE:NTR) Stock

Nutrien (NYSE:NTR) had its price objective lifted by TD Securities from $64.00 to $67.00 in a research report report published on Monday morning,BayStreet.CA reports. TD Securities currently has a buy rating on the stock.

NTR has been the subject of several other reports. JPMorgan Chase & Co. raised Nutrien from an “underweight” rating to a “neutral” rating and increased their price target for the stock from $40.00 to $50.00 in a report on Monday, January 13th. CIBC increased their price target on Nutrien from $64.00 to $66.00 and gave the stock an “outperformer” rating in a report on Tuesday, February 25th. The Goldman Sachs Group increased their price target on Nutrien from $53.00 to $59.00 and gave the stock a “sell” rating in a report on Friday, May 9th. Royal Bank of Canada increased their price target on Nutrien from $60.00 to $65.00 and gave the stock an “outperform” rating in a report on Monday. Finally, BNP Paribas raised Nutrien to a “strong-buy” rating in a report on Wednesday, April 9th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $61.44.

Nutrien Stock Performance

Shares of NTR opened at $56.89 on Monday. The company has a current ratio of 1.27, a quick ratio of 0.82 and a debt-to-equity ratio of 0.38. The firm has a market cap of $27.78 billion, a PE ratio of 41.53, a price-to-earnings-growth ratio of 1.19 and a beta of 0.79. The company’s 50 day simple moving average is $52.35 and its 200-day simple moving average is $50.14. Nutrien has a 12-month low of $43.70 and a 12-month high of $60.87.

Nutrien (NYSE:NTR) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.24). Nutrien had a return on equity of 6.81% and a net margin of 2.62%. The company had revenue of $4.67 billion for the quarter, compared to analyst estimates of $5.16 billion. During the same period in the prior year, the business earned $0.46 earnings per share. Nutrien’s revenue for the quarter was down 5.4% compared to the same quarter last year. As a group, equities analysts predict that Nutrien will post 3.72 EPS for the current year.

Nutrien Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 18th. Stockholders of record on Monday, June 30th will be paid a dividend of $0.545 per share. This represents a $2.18 annualized dividend and a dividend yield of 3.83%. The ex-dividend date is Monday, June 30th. Nutrien’s dividend payout ratio (DPR) is presently 203.74%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Nutrien by 7.1% during the 1st quarter. Vanguard Group Inc. now owns 21,191,003 shares of the company’s stock worth $1,051,709,000 after buying an additional 1,412,503 shares during the last quarter. Dodge & Cox raised its stake in shares of Nutrien by 0.3% during the 4th quarter. Dodge & Cox now owns 12,523,259 shares of the company’s stock worth $560,416,000 after buying an additional 40,800 shares during the last quarter. Silchester International Investors LLP raised its stake in shares of Nutrien by 9.5% during the 4th quarter. Silchester International Investors LLP now owns 11,693,137 shares of the company’s stock worth $523,268,000 after buying an additional 1,009,895 shares during the last quarter. First Eagle Investment Management LLC raised its stake in shares of Nutrien by 0.8% during the 4th quarter. First Eagle Investment Management LLC now owns 9,529,311 shares of the company’s stock worth $426,436,000 after buying an additional 77,174 shares during the last quarter. Finally, Mackenzie Financial Corp raised its stake in shares of Nutrien by 0.7% during the 1st quarter. Mackenzie Financial Corp now owns 7,855,609 shares of the company’s stock worth $389,860,000 after buying an additional 54,918 shares during the last quarter. 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.