Raymond James Has Pessimistic Outlook of Nutrien Q3 Earnings

Nutrien Ltd. (NYSE:NTR - Free Report) - Raymond James reduced their Q3 2024 earnings per share estimates for Nutrien in a research note issued on Monday, November 4th. Raymond James analyst S. Hansen now expects that the company will post earnings of $0.47 per share for the quarter, down from their prior estimate of $0.58. The consensus estimate for Nutrien's current full-year earnings is $3.85 per share. Raymond James also issued estimates for Nutrien's Q4 2024 earnings at $0.55 EPS, FY2024 earnings at $3.78 EPS and FY2025 earnings at $3.74 EPS.

NTR has been the topic of several other research reports. Scotiabank dropped their price objective on shares of Nutrien from $66.00 to $59.00 and set a "sector outperform" rating on the stock in a report on Monday, August 12th. Wells Fargo & Company downgraded Nutrien from an "overweight" rating to an "equal weight" rating and cut their price objective for the company from $62.00 to $50.00 in a research report on Tuesday, September 24th. Mizuho decreased their price target on shares of Nutrien from $55.00 to $52.00 and set a "neutral" rating on the stock in a research note on Thursday, August 8th. The Goldman Sachs Group lowered Nutrien from a "buy" rating to a "neutral" rating and lowered their price objective for the stock from $69.00 to $53.00 in a research report on Tuesday, September 10th. Finally, Hsbc Global Res cut Nutrien from a "hold" rating to a "moderate sell" rating in a research note on Friday, August 2nd. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $60.44.

Nutrien Stock Performance

Shares of NYSE:NTR traded down $0.17 during midday trading on Tuesday, hitting $50.61. The company's stock had a trading volume of 1,768,363 shares, compared to its average volume of 1,947,931. The stock has a market capitalization of $25.00 billion, a price-to-earnings ratio of 31.66, a PEG ratio of 1.57 and a beta of 0.82. The stock's 50 day simple moving average is $47.89 and its 200 day simple moving average is $50.68. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.82 and a current ratio of 1.26. Nutrien has a fifty-two week low of $44.65 and a fifty-two week high of $60.87.

Nutrien (NYSE:NTR - Get Free Report) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $2.34 EPS for the quarter, beating the consensus estimate of $2.19 by $0.15. Nutrien had a return on equity of 6.91% and a net margin of 2.97%. The business had revenue of $10.16 billion during the quarter, compared to analysts' expectations of $10.82 billion. During the same quarter in the previous year, the business posted $2.53 EPS. The firm's quarterly revenue was down 12.9% compared to the same quarter last year.

Institutional Trading of Nutrien

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Entropy Technologies LP bought a new stake in shares of Nutrien in the 3rd quarter valued at about $265,000. Meixler Investment Management Ltd. increased its position in Nutrien by 4.2% during the third quarter. Meixler Investment Management Ltd. now owns 7,159 shares of the company's stock worth $344,000 after buying an additional 288 shares during the last quarter. Peregrine Asset Advisers Inc. raised its stake in Nutrien by 7.6% in the third quarter. Peregrine Asset Advisers Inc. now owns 15,205 shares of the company's stock valued at $731,000 after buying an additional 1,080 shares during the period. Tyler Stone Wealth Management boosted its stake in shares of Nutrien by 128.9% during the 3rd quarter. Tyler Stone Wealth Management now owns 22,170 shares of the company's stock worth $1,065,000 after acquiring an additional 12,485 shares during the period. Finally, Atria Investments Inc lifted its holdings in Nutrien by 2.0% during the 3rd quarter. Atria Investments Inc now owns 14,636 shares of the company's stock valued at $703,000 after purchasing an additional 290 shares during the last quarter. 63.10% of the stock is owned by institutional investors.

Nutrien Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Friday, September 27th were issued a $0.54 dividend. This represents a $2.16 annualized dividend and a dividend yield of 4.27%. The ex-dividend date was Friday, September 27th. Nutrien's payout ratio is presently 135.00%.

About Nutrien

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.