Nutrien Ltd. (NYSE:NTR) to Issue Quarterly Dividend of $0.55

Nutrien Ltd. (NYSE:NTR) announced a quarterly dividend on Wednesday, August 5th. Investors of record on Tuesday, September 29th will be paid a dividend of 0.55 per share on Friday, October 16th. This represents a c) dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend is Tuesday, September 29th.

Nutrien has decreased its dividend payment by an average of 0.1%per year over the last three years and has increased its dividend annually for the last 7 consecutive years. Nutrien has a payout ratio of 53.5% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Nutrien to earn $4.69 per share next year, which means the company should continue to be able to cover its $2.20 annual dividend with an expected future payout ratio of 46.9%.

Nutrien Stock Performance

NYSE NTR traded down $0.72 during trading hours on Thursday, hitting $66.20. The company had a trading volume of 1,633,620 shares, compared to its average volume of 3,180,965. The business has a 50 day moving average of $66.21 and a 200-day moving average of $70.47. The company has a market cap of $31.67 billion, a PE ratio of 13.50, a price-to-earnings-growth ratio of 0.67 and a beta of 0.61. Nutrien has a 1-year low of $53.03 and a 1-year high of $85.36. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.59 and a current ratio of 1.24.

Nutrien (NYSE:NTR) last posted its earnings results on Wednesday, August 5th. The company reported $2.61 EPS for the quarter, missing analysts’ consensus estimates of $2.70 by ($0.09). The firm had revenue of $10.81 billion for the quarter, compared to analyst estimates of $10.44 billion. Nutrien had a return on equity of 8.84% and a net margin of 8.58%.The firm’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same quarter last year, the firm posted $2.65 EPS. As a group, equities research analysts expect that Nutrien will post 5.01 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have recently commented on NTR. Scotiabank raised shares of Nutrien from a “sector perform” rating to a “sector outperform” rating and set a $80.00 target price on the stock in a report on Tuesday, June 30th. UBS Group lowered their price objective on shares of Nutrien from $67.00 to $65.00 and set a “sell” rating on the stock in a research report on Monday, May 11th. National Bank Financial set a $76.00 target price on shares of Nutrien and gave the company an “outperform” rating in a report on Monday, July 13th. Morgan Stanley reduced their target price on shares of Nutrien from $93.00 to $81.00 and set an “overweight” rating for the company in a report on Tuesday, July 7th. Finally, Oppenheimer lowered their price target on Nutrien from $82.00 to $80.00 and set an “outperform” rating on the stock in a report on Thursday, July 23rd. Sixteen research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Nutrien has an average rating of “Moderate Buy” and a consensus price target of $81.84.

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.