Nutrien (NTR) Upgraded to Buy by Zacks Investment Research
Zacks Investment Research upgraded shares of Nutrien (NYSE:NTR) from a hold rating to a buy rating in a research note released on Wednesday. They currently have $63.00 target price on the stock.
According to Zacks, “Nutrien Ltd. produces and sells fertilizers and related industrial and feed products. The company’s products primarily include standard and granular potash; diammonium phosphate, monoammonium phosphate and phosphoric acid and ammonia, urea, nitric acid, ammonium nitrate and nitrogen solutions, as well as purified acids and phosphate feed products. Nutrien Ltd., formerly known as Potash Corporation of Saskatchewan Inc., is headquartered in Saskatoon, Canada. “
A number of other research analysts have also recently commented on the stock. Raymond James raised shares of Nutrien from an outperform rating to a strong-buy rating and boosted their target price for the stock from $60.00 to $65.00 in a research report on Monday, June 25th. TD Securities reduced their target price on shares of Nutrien from $64.00 to $60.00 and set a buy rating on the stock in a research report on Monday, April 23rd. Royal Bank of Canada boosted their target price on shares of Nutrien from $55.00 to $60.00 and gave the stock an outperform rating in a research report on Wednesday, July 18th. Citigroup boosted their target price on shares of Nutrien from $56.00 to $62.00 and gave the stock a buy rating in a research report on Wednesday, July 11th. Finally, Stephens set a $64.00 target price on shares of Nutrien and gave the stock a buy rating in a research report on Monday, August 6th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. Nutrien has an average rating of Buy and a consensus price target of $61.13.
Nutrien (NYSE:NTR) last posted its earnings results on Wednesday, August 1st. The company reported $1.48 EPS for the quarter, topping analysts’ consensus estimates of $1.40 by $0.08. Nutrien had a net margin of 9.83% and a return on equity of 10.27%. The business had revenue of $8.15 billion for the quarter, compared to analysts’ expectations of $7.70 billion. Nutrien’s revenue was up 10.8% on a year-over-year basis. sell-side analysts forecast that Nutrien will post 2.49 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 19th. Investors of record on Friday, September 28th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Thursday, September 27th. This represents a $1.60 annualized dividend and a yield of 2.86%.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Fairfield Bush & CO. raised its holdings in Nutrien by 8.2% in the second quarter. Fairfield Bush & CO. now owns 13,182 shares of the company’s stock valued at $717,000 after acquiring an additional 1,000 shares in the last quarter. Bank of Nova Scotia raised its holdings in Nutrien by 4.9% in the second quarter. Bank of Nova Scotia now owns 2,536,579 shares of the company’s stock valued at $137,340,000 after acquiring an additional 118,546 shares in the last quarter. Argent Trust Co acquired a new stake in Nutrien in the second quarter valued at $504,000. HPM Partners LLC acquired a new stake in Nutrien in the second quarter valued at $348,000. Finally, Scopus Asset Management L.P. acquired a new stake in Nutrien in the second quarter valued at $3,915,000. 64.62% of the stock is currently owned by hedge funds and other institutional investors.
Nutrien Company Profile
Nutrien Ltd. produces and markets crop nutrients worldwide. The company offers potash, nitrogen, phosphate, and solid and liquid phosphate fertilizers; and phosphate feed, ammonium sulfate, and industrial acid products. It also retails seeds, crop protection and crop nutrient products, merchandise products, and agronomic services through operating 1,500 retail locations.
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