Nutrien (NTR) Rating Increased to Buy at TD Securities

TD Securities upgraded shares of Nutrien (NYSE:NTR) from a hold rating to a buy rating in a research note published on Wednesday, MarketBeat.com reports. They currently have $68.00 price objective on the stock, up from their previous price objective of $63.00. The analysts noted that the move was a valuation call.

Several other research analysts also recently issued reports on NTR. Citigroup upped their target price on shares of Nutrien from $56.00 to $62.00 and gave the stock a buy rating in a research note on Wednesday, July 11th. Royal Bank of Canada upped their target price on shares of Nutrien from $55.00 to $60.00 and gave the stock an outperform rating in a research note on Wednesday, July 18th. Zacks Investment Research upgraded shares of Nutrien from a hold rating to a buy rating and set a $58.00 target price on the stock in a research note on Wednesday, July 25th. BMO Capital Markets reiterated a hold rating and issued a $54.00 target price on shares of Nutrien in a research note on Friday, August 3rd. Finally, Scotiabank reiterated a buy rating and issued a $65.00 target price on shares of Nutrien in a research note on Friday, August 3rd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. Nutrien presently has an average rating of Buy and an average price target of $63.12.

NYSE:NTR traded down $0.91 during mid-day trading on Wednesday, hitting $56.54. 1,883,667 shares of the company’s stock were exchanged, compared to its average volume of 1,732,872. Nutrien has a one year low of $40.41 and a one year high of $58.99. The firm has a market capitalization of $34.88 billion, a P/E ratio of 45.58, a PEG ratio of 1.55 and a beta of 0.76.

Nutrien (NYSE:NTR) last issued its earnings results on Monday, November 5th. The company reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.03. The firm had revenue of $4.03 billion for the quarter, compared to the consensus estimate of $3.83 billion. Nutrien had a net margin of 1.74% and a return on equity of 12.95%. The business’s quarterly revenue was up 226.9% on a year-over-year basis. As a group, analysts anticipate that Nutrien will post 2.63 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 17th. Stockholders of record on Monday, December 31st will be issued a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 3.04%. This is a boost from Nutrien’s previous quarterly dividend of $0.40. The ex-dividend date is Friday, December 28th.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Boston Partners raised its holdings in shares of Nutrien by 6.1% during the second quarter. Boston Partners now owns 8,687,741 shares of the company’s stock valued at $472,439,000 after purchasing an additional 496,801 shares during the last quarter. TD Asset Management Inc. raised its holdings in shares of Nutrien by 4.1% during the second quarter. TD Asset Management Inc. now owns 8,335,145 shares of the company’s stock valued at $453,179,000 after purchasing an additional 331,876 shares during the last quarter. CIBC Asset Management Inc raised its holdings in shares of Nutrien by 2.0% during the second quarter. CIBC Asset Management Inc now owns 6,991,400 shares of the company’s stock valued at $380,417,000 after purchasing an additional 140,099 shares during the last quarter. Great West Life Assurance Co. Can raised its holdings in shares of Nutrien by 1.9% during the second quarter. Great West Life Assurance Co. Can now owns 5,110,815 shares of the company’s stock valued at $278,927,000 after purchasing an additional 95,380 shares during the last quarter. Finally, Toronto Dominion Bank raised its holdings in shares of Nutrien by 177.3% during the second quarter. Toronto Dominion Bank now owns 3,677,431 shares of the company’s stock valued at $200,088,000 after purchasing an additional 2,351,420 shares during the last quarter. 66.65% of the stock is owned by hedge funds and other institutional investors.

About Nutrien

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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Analyst Recommendations for Nutrien (NYSE:NTR)

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