Nutrien (NTR) Downgraded to Hold at Zacks Investment Research

Zacks Investment Research lowered shares of Nutrien (NYSE:NTR) from a buy rating to a hold rating in a report released 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 weighed in on NTR. Stephens set a $68.00 target price on Nutrien and gave the company a buy rating in a research note on Thursday, November 8th. UBS Group raised their target price on Nutrien from $63.00 to $66.00 and gave the company a buy rating in a research note on Tuesday, October 2nd. Cleveland Research upgraded Nutrien from a neutral rating to a buy rating in a research note on Thursday, October 18th. Berenberg Bank assumed coverage on Nutrien in a research note on Wednesday, November 14th. They issued a hold rating and a $55.00 target price for the company. Finally, TD Securities upgraded Nutrien from a hold rating to a buy rating and raised their target price for the company from $63.00 to $68.00 in a research note on Wednesday, November 7th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, eight have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. Nutrien has an average rating of Buy and an average target price of $62.67.

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

Nutrien (NYSE:NTR) last released its quarterly earnings data 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. Nutrien had a return on equity of 12.95% and a net margin of 1.74%. The firm had revenue of $4.03 billion during the quarter, compared to analyst estimates of $3.83 billion. Nutrien’s quarterly revenue was up 226.9% compared to the same quarter last year. On average, sell-side analysts forecast that Nutrien will post 2.65 EPS for the current fiscal year.

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

Institutional investors have recently bought and sold shares of the stock. Great West Life Assurance Co. Can boosted its holdings in Nutrien by 1.9% in 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 acquiring an additional 95,380 shares during the last quarter. Bank of Nova Scotia boosted its holdings in Nutrien by 4.9% during the second quarter. Bank of Nova Scotia now owns 2,536,579 shares of the company’s stock worth $137,340,000 after buying an additional 118,546 shares during the last quarter. Morgan Stanley boosted its holdings in Nutrien by 2.9% during the second quarter. Morgan Stanley now owns 1,599,898 shares of the company’s stock worth $87,002,000 after buying an additional 45,417 shares during the last quarter. IFP Advisors Inc boosted its holdings in Nutrien by 63.9% during the third quarter. IFP Advisors Inc now owns 3,630 shares of the company’s stock worth $209,000 after buying an additional 1,415 shares during the last quarter. Finally, Oppenheimer & Co. Inc. boosted its holdings in Nutrien by 8.5% during the second quarter. Oppenheimer & Co. Inc. now owns 39,340 shares of the company’s stock worth $2,140,000 after buying an additional 3,088 shares during the last quarter. Institutional investors and hedge funds own 66.70% of the company’s stock.

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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