Nutrien Ltd. (NYSE:NTR) to Post Q2 2024 Earnings of $1.93 Per Share, Zacks Research Forecasts

Nutrien Ltd. (NYSE:NTR) – Investment analysts at Zacks Research reduced their Q2 2024 earnings per share estimates for shares of Nutrien in a report released on Tuesday, May 21st. Zacks Research analyst S. Rathi now expects that the company will post earnings per share of $1.93 for the quarter, down from their prior estimate of $2.10. The consensus estimate for Nutrien’s current full-year earnings is $3.90 per share.

Nutrien (NYSE:NTR) last released its quarterly earnings data on Wednesday, February 21st. The company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.72 by ($0.35). The business had revenue of $5.66 billion during the quarter, compared to the consensus estimate of $5.36 billion. Nutrien had a return on equity of 7.31% and a net margin of 3.01%. Nutrien’s quarterly revenue was down 24.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.02 earnings per share.

A number of other research firms have also recently commented on NTR. Royal Bank of Canada reduced their price objective on Nutrien from $75.00 to $70.00 and set an “outperform” rating for the company in a research report on Friday, February 23rd. Scotiabank reduced their price target on shares of Nutrien from $67.00 to $66.00 and set an “outperform” rating for the company in a research report on Monday, May 13th. Mizuho boosted their target price on shares of Nutrien from $54.00 to $56.00 and gave the company an “underweight” rating in a research report on Friday, May 17th. HSBC reduced their target price on shares of Nutrien from $63.00 to $57.00 and set a “hold” rating for the company in a report on Friday, March 8th. Finally, Wolfe Research began coverage on shares of Nutrien in a research note on Friday, March 1st. They set an “outperform” rating and a $66.00 price target on the stock. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $67.32.

Nutrien Stock Performance

Shares of NYSE NTR opened at $59.21 on Wednesday. The firm’s 50-day moving average price is $54.72 and its 200-day moving average price is $53.86. Nutrien has a 52-week low of $47.90 and a 52-week high of $69.12. The company has a market cap of $29.28 billion, a PE ratio of 34.63, a PEG ratio of 1.91 and a beta of 0.88. The company has a quick ratio of 0.53, a current ratio of 1.15 and a debt-to-equity ratio of 0.36.

Hedge Funds Weigh In On Nutrien

Several institutional investors have recently bought and sold shares of the stock. Norges Bank purchased a new position in shares of Nutrien during the fourth quarter valued at about $332,716,000. The Manufacturers Life Insurance Company increased its stake in Nutrien by 51.3% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 6,853,165 shares of the company’s stock worth $425,881,000 after acquiring an additional 2,322,679 shares during the last quarter. ARGA Investment Management LP increased its stake in Nutrien by 120.2% in the 1st quarter. ARGA Investment Management LP now owns 3,780,881 shares of the company’s stock worth $205,421,000 after acquiring an additional 2,063,881 shares during the last quarter. TD Asset Management Inc raised its holdings in shares of Nutrien by 28.6% during the 4th quarter. TD Asset Management Inc now owns 9,226,352 shares of the company’s stock worth $522,309,000 after acquiring an additional 2,050,358 shares in the last quarter. Finally, Parnassus Investments LLC boosted its position in shares of Nutrien by 19.5% during the 4th quarter. Parnassus Investments LLC now owns 12,017,181 shares of the company’s stock valued at $676,928,000 after acquiring an additional 1,960,162 shares during the last quarter. 63.10% of the stock is owned by hedge funds and other institutional investors.

Nutrien Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 19th. Shareholders of record on Friday, June 28th will be issued a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 3.65%. The ex-dividend date of this dividend is Friday, June 28th. Nutrien’s dividend payout ratio (DPR) is currently 126.32%.

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.