Nutrien (NYSE:NTR) Upgraded to “Neutral” at Bank of America

Bank of America upgraded shares of Nutrien (NYSE:NTR) from an underperform rating to a neutral rating in a report published on Friday morning, BenzingaRatingsTable reports.

Several other equities research analysts have also issued reports on NTR. BMO Capital Markets set a $60.00 price target on shares of Nutrien and gave the company a buy rating in a research note on Wednesday, July 31st. Citigroup set a $61.00 price target on shares of Nutrien and gave the company a buy rating in a research note on Wednesday, July 31st. Cowen reiterated an outperform rating and issued a $63.00 price target (down from $66.00) on shares of Nutrien in a research note on Tuesday, April 23rd. TD Securities lifted their price target on shares of Nutrien from $68.00 to $69.00 and gave the company a buy rating in a research note on Wednesday, July 31st. Finally, Raymond James reiterated a strong-buy rating and issued a $70.00 price target on shares of Nutrien in a research note on Tuesday, July 30th. Six research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus price target of $62.00.

Shares of NTR stock opened at $49.78 on Friday. Nutrien has a 1 year low of $43.96 and a 1 year high of $58.99. The firm’s fifty day moving average price is $51.81 and its two-hundred day moving average price is $52.39. The firm has a market capitalization of $28.00 billion, a P/E ratio of 18.51, a PEG ratio of 2.15 and a beta of 0.87.

Nutrien (NYSE:NTR) last issued its quarterly earnings results on Monday, July 29th. The company reported $1.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.59 by ($0.01). The business had revenue of $8.66 billion for the quarter, compared to analysts’ expectations of $8.17 billion. During the same quarter in the prior year, the firm earned $1.48 EPS. The company’s revenue was up 6.8% on a year-over-year basis. Equities analysts expect that Nutrien will post 2.85 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 17th. Stockholders of record on Monday, September 30th will be paid a dividend of $0.45 per share. The ex-dividend date of this dividend is Friday, September 27th. This is a positive change from Nutrien’s previous quarterly dividend of $0.43. This represents a $1.80 annualized dividend and a dividend yield of 3.62%. Nutrien’s payout ratio is currently 63.94%.

Institutional investors have recently added to or reduced their stakes in the company. Birch Hill Investment Advisors LLC increased its stake in shares of Nutrien by 8.5% during the 2nd quarter. Birch Hill Investment Advisors LLC now owns 312,747 shares of the company’s stock worth $16,719,000 after purchasing an additional 24,610 shares during the last quarter. Moerus Capital Management LLC grew its stake in Nutrien by 9.3% in the 1st quarter. Moerus Capital Management LLC now owns 642,206 shares of the company’s stock valued at $33,883,000 after buying an additional 54,763 shares during the last quarter. Toronto Dominion Bank grew its stake in Nutrien by 94.6% in the 1st quarter. Toronto Dominion Bank now owns 5,494,159 shares of the company’s stock valued at $289,969,000 after buying an additional 2,671,293 shares during the last quarter. US Bancorp DE grew its stake in Nutrien by 23.2% in the 1st quarter. US Bancorp DE now owns 65,279 shares of the company’s stock valued at $3,445,000 after buying an additional 12,285 shares during the last quarter. Finally, Gamco Investors INC. ET AL acquired a new position in Nutrien in the 1st quarter valued at about $736,000. Institutional investors own 68.37% of the company’s stock.

Nutrien Company Profile

Nutrien Ltd. produces and markets crop nutrients to agricultural, industrial, and feed customers worldwide. It operates in four segments: Retail, Potash, Nitrogen, and Phosphate and Sulfate. The company offers potash, nitrogen, phosphate, and sulfate products. It also distributes crop nutrients, crop protection products, seeds, and merchandise products through operating 1,700 retail locations.

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Analyst Recommendations for Nutrien (NYSE:NTR)

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