Scotiabank Reaffirms Sector Perform Rating for Nutrien (NYSE:NTR)

Nutrien (NYSE:NTR)‘s stock had its “sector perform” rating reissued by analysts at Scotiabank in a research report issued on Wednesday, Marketbeat.com reports. They currently have a $62.00 price objective on the stock. Scotiabank’s price target indicates a potential upside of 8.05% from the company’s current price.

Other analysts have also issued reports about the stock. Barclays upped their price objective on shares of Nutrien from $56.00 to $59.00 and gave the stock an “equal weight” rating in a research note on Wednesday, March 5th. Oppenheimer upped their price objective on shares of Nutrien from $58.00 to $63.00 and gave the stock an “outperform” rating in a research note on Tuesday. BNP Paribas raised shares of Nutrien to a “strong-buy” rating in a research note on Wednesday, April 9th. Royal Bank of Canada increased their price target on shares of Nutrien from $60.00 to $65.00 and gave the company an “outperform” rating in a research report on Monday. Finally, Wells Fargo & Company increased their price target on shares of Nutrien from $56.00 to $59.00 and gave the company an “equal weight” rating in a research report on Monday. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $61.44.

Nutrien Trading Up 0.7%

NYSE NTR opened at $57.38 on Wednesday. The company’s 50-day moving average price is $52.49 and its 200-day moving average price is $50.20. 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 stock has a market cap of $28.02 billion, a PE ratio of 41.88, a PEG ratio of 1.19 and a beta of 0.79. Nutrien has a 12 month low of $43.70 and a 12 month high of $60.87.

Nutrien (NYSE:NTR) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $5.16 billion. During the same quarter in the previous year, the company posted $0.46 earnings per share. The company’s revenue for the quarter was down 5.4% on a year-over-year basis. Equities research analysts forecast that Nutrien will post 3.72 earnings per share for the current year.

Hedge Funds Weigh In On Nutrien

Hedge funds and other institutional investors have recently modified their holdings of the stock. Covea Finance raised its position in shares of Nutrien by 21.9% in the 4th quarter. Covea Finance now owns 55,600 shares of the company’s stock valued at $2,485,000 after purchasing an additional 10,000 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Nutrien by 8.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,886,376 shares of the company’s stock valued at $84,367,000 after purchasing an additional 144,025 shares during the last quarter. Van ECK Associates Corp raised its position in shares of Nutrien by 5.7% in the 4th quarter. Van ECK Associates Corp now owns 1,480,870 shares of the company’s stock valued at $66,264,000 after purchasing an additional 80,382 shares during the last quarter. Secured Retirement Advisors LLC purchased a new position in shares of Nutrien in the 4th quarter valued at approximately $654,000. Finally, Abel Hall LLC purchased a new position in Nutrien during the 4th quarter worth approximately $276,000. 63.10% of the stock is owned by hedge funds and other institutional investors.

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.