Nutrien (NYSE:NTR) Share Price Crosses Above Two Hundred Day Moving Average on Disappointing Earnings

Nutrien Ltd. (NYSE:NTR)’s stock price crossed above its 200-day moving average during trading on Wednesday after the company announced better than expected quarterly earnings. The stock has a 200-day moving average of $71.06 and traded as high as $72.14. Nutrien shares last traded at $72.0510, with a volume of 3,439,787 shares trading hands.

The company reported $0.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.13). Nutrien had a net margin of 8.44% and a return on equity of 8.88%. During the same quarter in the previous year, the firm posted $0.97 earnings per share. The firm’s revenue was up .9% on a year-over-year basis.

Nutrien News Summary

Here are the key news stories impacting Nutrien this week:

• Positive Sentiment: Revenue was $6.06 billion, topping the $5.76 billion FactSet estimate, and Nutrien declared a quarterly dividend of US$0.55 per share. Revenue report Dividend announcement
• Neutral Sentiment: The company reported $1.31 billion in adjusted EBITDA and said it generated $4.85 billion in adjusted EBITDA over the first nine months of the year. Third-quarter results
• Negative Sentiment: Adjusted earnings per share were $0.61, below the $0.74 consensus and down from $0.97 a year earlier. Net profit fell 39% to about $290 million, despite the revenue beat. Earnings estimate comparison Profit decline report
• Negative Sentiment: Reports cited higher sulfur costs and a phosphate business downturn as factors behind the earnings shortfall. Nutrien also plans to close its Florida plant, adding to concerns about near-term operating pressures. Costs and Florida plant report

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. UBS Group raised their target price on Nutrien from $59.00 to $62.00 and gave the stock a “sell” rating in a research note on Tuesday, October 27th. BNP Paribas Exane upgraded Nutrien from a “neutral” rating to an “outperform” rating and set a $80.00 price target on the stock in a report on Tuesday, July 28th. Oppenheimer lowered their price target on Nutrien from $80.00 to $78.00 and set an “outperform” rating for the company in a research report on Thursday, October 22nd. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Nutrien in a report on Monday, August 10th. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $71.00 price objective on shares of Nutrien in a report on Monday, October 12th. Sixteen equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $79.24.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. United Capital Management of KS Inc. boosted its position in shares of Nutrien by 3.8% in the 3rd quarter. United Capital Management of KS Inc. now owns 109,188 shares of the company’s stock worth $7,670,000 after purchasing an additional 4,047 shares in the last quarter. Fulcrum Asset Management LLP grew its stake in shares of Nutrien by 54.4% in the 3rd quarter. Fulcrum Asset Management LLP now owns 9,076 shares of the company’s stock worth $643,000 after buying an additional 3,196 shares during the last quarter. Kestra Advisory Services LLC grew its stake in shares of Nutrien by 3.7% in the 3rd quarter. Kestra Advisory Services LLC now owns 20,247 shares of the company’s stock worth $1,422,000 after buying an additional 731 shares during the last quarter. Provenance Wealth Advisors LLC increased its position in Nutrien by 39.6% during the 3rd quarter. Provenance Wealth Advisors LLC now owns 747 shares of the company’s stock valued at $52,000 after buying an additional 212 shares in the last quarter. Finally, Associated Banc Corp bought a new position in Nutrien during the 3rd quarter valued at approximately $329,000. 63.10% of the stock is owned by hedge funds and other institutional investors.

Nutrien Trading Up 3.9%

The stock has a 50-day moving average of $72.92 and a two-hundred day moving average of $71.06. The company has a market cap of $34.24 billion, a P/E ratio of 14.59, a price-to-earnings-growth ratio of 0.77 and a beta of 0.67. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.86 and a current ratio of 1.39.

Nutrien Company Profile