Nutrien (NTR) Downgraded to Hold at Zacks Investment Research

Zacks Investment Research downgraded shares of Nutrien (NYSE:NTR) from a buy rating to a hold rating in a research note issued to investors on Friday morning.

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 brokerages have also recently issued reports on NTR. Royal Bank of Canada set a $65.00 target price on Nutrien and gave the stock a buy rating in a research report on Tuesday, October 2nd. Scotiabank cut Nutrien from a focus list rating to an outperform rating in a research report on Thursday, September 20th. BMO Capital Markets reaffirmed a hold rating and set a $55.00 target price on shares of Nutrien in a research report on Wednesday, September 19th. UBS Group upped their target price on Nutrien from $63.00 to $66.00 and gave the stock a buy rating in a research report on Tuesday, October 2nd. Finally, Stephens set a $68.00 target price on Nutrien and gave the stock a buy rating in a research report on Thursday, November 8th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average price target of $62.67.

Nutrien stock traded down $1.87 during trading hours on Friday, reaching $49.86. 2,253,093 shares of the company were exchanged, compared to its average volume of 1,256,049. The stock has a market capitalization of $31.67 billion, a P/E ratio of 41.38, a PEG ratio of 1.86 and a beta of 0.75. Nutrien has a 12 month low of $40.41 and a 12 month high of $58.99.

Nutrien (NYSE:NTR) last announced its earnings results on Monday, November 5th. The company reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.44 by $0.03. The firm had revenue of $4.03 billion during the quarter, compared to analysts’ expectations of $3.83 billion. Nutrien had a return on equity of 12.95% and a net margin of 1.74%. The business’s revenue was up 226.9% compared to the same quarter last year. Analysts expect that Nutrien will post 2.65 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 17th. Stockholders of record on Monday, December 31st will be given a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 3.45%. This is a boost from Nutrien’s previous quarterly dividend of $0.40. The ex-dividend date is Friday, December 28th.

Institutional investors and hedge funds have recently bought and sold shares of the company. Glassman Wealth Services boosted its position in shares of Nutrien by 91.7% in the third quarter. Glassman Wealth Services now owns 2,153 shares of the company’s stock valued at $124,000 after acquiring an additional 1,030 shares during the period. FNY Investment Advisers LLC boosted its position in shares of Nutrien by 4,210.3% in the third quarter. FNY Investment Advisers LLC now owns 2,500 shares of the company’s stock valued at $144,000 after acquiring an additional 2,442 shares during the period. Capital Advisors Ltd. LLC bought a new stake in shares of Nutrien in the third quarter valued at approximately $147,000. Dorsey & Whitney Trust CO LLC bought a new stake in shares of Nutrien in the third quarter valued at approximately $204,000. Finally, Ipswich Investment Management Co. Inc. bought a new stake in shares of Nutrien in the third quarter valued at approximately $206,000. 66.70% of the stock is owned by 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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