Nutrien (TSE:NTR) Share Price Breaks Above Two Hundred Day Moving Average – Here’s Why

Nutrien Ltd. (TSE:NTR)’s share price crossed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of C$98.67 and traded as high as C$100.75. Nutrien shares last traded at C$100.36, with a volume of 1,560,124 shares.

Wall Street Analyst Weigh In

NTR has been the topic of several analyst reports. Freedom Broker initiated coverage on Nutrien in a research note on Tuesday, October 27th. They issued a “hold” rating on the stock. KeyCorp started coverage on Nutrien in a report on Thursday, September 10th. They set a “hold” rating on the stock. Jefferies Financial Group lowered Nutrien from a “buy” rating to a “hold” rating and decreased their target price for the stock from C$96.00 to C$63.00 in a research report on Thursday, July 16th. BNP Paribas Exane raised Nutrien from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 28th. Finally, National Bank Financial downgraded shares of Nutrien from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 25th. Three equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of C$74.33.

Nutrien Stock Performance

The company has a debt-to-equity ratio of 54.89, a quick ratio of 0.65 and a current ratio of 1.41. The stock’s 50-day moving average is C$102.28 and its 200 day moving average is C$98.76. The firm has a market cap of C$48.13 billion, a P/E ratio of 20.42, a PEG ratio of 1.15 and a beta of 0.52.

Nutrien (TSE:NTR) last posted its earnings results on Wednesday, November 4th. The company reported C$0.87 earnings per share for the quarter. Nutrien had a return on equity of 8.53% and a net margin of 7.78%. The firm had revenue of C$8.63 billion for the quarter. On average, research analysts predict that Nutrien Ltd. will post 5.34 earnings per share for the current year.

Nutrien Company Profile

Nutrien is a leading global provider of crop inputs and services. We operate a world-class network of production, distribution and ag retail facilities that positions us to efficiently serve the needs of growers. We focus on creating long-term value by prioritizing investments that strengthen the advantages of our business across the ag value chain and by maintaining access to the resources and the relationships with stakeholders needed to achieve our goals.