Reiterates “$85.00” Price Target for Nutrien (NYSE:NTR)

set a $85.00 price target on Nutrien (NYSE:NTR) in a research note published on Monday morning,BayStreet reports. The firm currently has an outperform rating on the stock.

Several other equities research analysts have also weighed in on the stock. 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. Scotia raised shares of Nutrien from a “sector perform” rating to a “sector outperform” rating and set a $80.00 price target for the company in a report on Tuesday, June 30th. National Bank Financial reduced their price target on shares of Nutrien from $76.00 to $74.00 and set an “outperform” rating on the stock in a research report on Monday, August 10th. Morgan Stanley decreased their price objective on shares of Nutrien from $93.00 to $81.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 7th. Finally, BNP Paribas Exane raised shares of Nutrien from a “neutral” rating to an “outperform” rating and set a $80.00 price objective for the company in a report on Tuesday, July 28th. Seventeen equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $81.15.

Nutrien Trading Down 1.7%

Shares of NTR opened at $70.02 on Monday. Nutrien has a 1 year low of $53.03 and a 1 year high of $85.36. The company has a current ratio of 1.39, a quick ratio of 0.86 and a debt-to-equity ratio of 0.36. The stock has a 50 day simple moving average of $72.97 and a 200-day simple moving average of $70.78. The stock has a market cap of $33.34 billion, a PE ratio of 14.17, a PEG ratio of 0.76 and a beta of 0.68.

Nutrien (NYSE:NTR) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $2.61 EPS for the quarter, missing the consensus estimate of $2.70 by ($0.09). Nutrien had a net margin of 8.44% and a return on equity of 8.88%. The company had revenue of $10.81 billion during the quarter, compared to analyst estimates of $10.44 billion. During the same period in the prior year, the firm earned $2.65 EPS. Nutrien’s quarterly revenue was up 3.6% compared to the same quarter last year. On average, sell-side analysts predict that Nutrien will post 4.66 EPS for the current fiscal year.

Nutrien Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 16th. Investors of record on Tuesday, September 29th will be given a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 3.1%. The ex-dividend date is Tuesday, September 29th. Nutrien’s payout ratio is 44.53%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Wellington Management Group LLP bought a new stake in shares of Nutrien during the second quarter worth $654,081,000. Deutsche Bank AG lifted its stake in shares of Nutrien by 2.0% during the fourth quarter. Deutsche Bank AG now owns 9,798,196 shares of the company’s stock valued at $604,745,000 after acquiring an additional 189,683 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Nutrien by 4.3% in the first quarter. Dimensional Fund Advisors LP now owns 5,872,194 shares of the company’s stock valued at $443,151,000 after acquiring an additional 239,946 shares during the last quarter. The Manufacturers Life Insurance Company bought a new position in Nutrien in the second quarter valued at about $375,178,000. Finally, Canada Pension Plan Investment Board bought a new position in Nutrien in the second quarter valued at about $359,318,000. Institutional investors and hedge funds own 63.10% of the company’s stock.

About Nutrien

Nutrien Ltd. is a Canada-based provider of crop inputs, services and solutions for agricultural producers. The company produces and distributes potash, nitrogen and phosphate products, which are used to support crop nutrition and agricultural productivity. Its product portfolio also includes crop protection products, seed, farm supplies and other agronomic inputs.

Nutrien serves farmers through a broad retail network operating primarily across North and South America, Australia and other international markets.