Berenberg Bank Boosts Nutrien (NYSE:NTR) Price Target to $59.00

Nutrien (NYSE:NTR) had its price objective upped by Berenberg Bank from $54.00 to $59.00 in a report issued on Tuesday morning,BayStreet.CA reports. They currently have a buy rating on the stock.

Several other research analysts also recently weighed in on NTR. JPMorgan Chase & Co. raised shares of Nutrien from an “underweight” rating to a “neutral” rating and boosted their target price for the company from $40.00 to $50.00 in a research note on Monday, January 13th. Wells Fargo & Company upped their price objective on shares of Nutrien from $53.00 to $56.00 and gave the company an “equal weight” rating in a research note on Friday, February 21st. Scotiabank lifted their target price on shares of Nutrien from $60.00 to $62.00 and gave the stock a “sector outperform” rating in a research note on Monday, February 24th. Mizuho increased their price target on Nutrien from $52.00 to $55.00 and gave the stock a “neutral” rating in a research note on Thursday, February 20th. Finally, Piper Sandler raised their price objective on Nutrien from $58.00 to $63.00 and gave the stock an “overweight” rating in a report on Monday, January 27th. Two research analysts have rated the stock with a sell rating, five have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $59.40.

Nutrien Stock Performance

NYSE:NTR opened at $52.50 on Tuesday. Nutrien has a twelve month low of $43.70 and a twelve month high of $60.87. The company has a market capitalization of $25.66 billion, a P/E ratio of 38.32, a price-to-earnings-growth ratio of 1.19 and a beta of 0.77. 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 50-day moving average price of $50.85 and a two-hundred day moving average price of $49.24.

Nutrien (NYSE:NTR) last issued its quarterly earnings data on Wednesday, February 19th. The company reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.09). The company had revenue of $5.08 billion for the quarter, compared to analyst estimates of $5.09 billion. Nutrien had a return on equity of 6.81% and a net margin of 2.62%. As a group, research analysts expect that Nutrien will post 3.72 earnings per share for the current fiscal year.

Nutrien Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 10th. Stockholders of record on Monday, March 31st were issued a dividend of $0.545 per share. This represents a $2.18 dividend on an annualized basis and a dividend yield of 4.15%. The ex-dividend date was Monday, March 31st. Nutrien’s payout ratio is currently 159.12%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Fairway Wealth LLC purchased a new stake in Nutrien during the fourth quarter worth approximately $27,000. HHM Wealth Advisors LLC boosted its position in Nutrien by 331.0% during the 4th quarter. HHM Wealth Advisors LLC now owns 625 shares of the company’s stock worth $28,000 after purchasing an additional 480 shares during the period. Assetmark Inc. increased its holdings in Nutrien by 1,437.5% in the 4th quarter. Assetmark Inc. now owns 738 shares of the company’s stock valued at $33,000 after purchasing an additional 690 shares in the last quarter. Asset Planning Inc purchased a new position in Nutrien in the fourth quarter valued at about $35,000. Finally, Exchange Traded Concepts LLC lifted its stake in shares of Nutrien by 96.7% during the fourth quarter. Exchange Traded Concepts LLC now owns 846 shares of the company’s stock worth $38,000 after purchasing an additional 416 shares in the last quarter. Hedge funds and other institutional investors own 63.10% of the company’s stock.

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.