Nutrien (NYSE:NTR) Lowered to "Equal Weight" at Wells Fargo & Company

Wells Fargo & Company cut shares of Nutrien (NYSE:NTR - Free Report) from an overweight rating to an equal weight rating in a report issued on Tuesday, Marketbeat Ratings reports. They currently have $50.00 price target on the stock, down from their prior price target of $62.00.

NTR has been the subject of a number of other research reports. Hsbc Global Res downgraded Nutrien from a hold rating to a moderate sell rating in a research note on Friday, August 2nd. HSBC cut Nutrien from a hold rating to a reduce rating in a research report on Friday, August 2nd. Scotiabank lowered their price target on Nutrien from $66.00 to $59.00 and set a sector outperform rating for the company in a research report on Monday, August 12th. UBS Group cut their price objective on shares of Nutrien from $67.00 to $66.00 and set a buy rating on the stock in a report on Tuesday, July 9th. Finally, Piper Sandler lowered their target price on shares of Nutrien from $56.00 to $55.00 and set an underweight rating for the company in a report on Tuesday, June 11th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, Nutrien has an average rating of Hold and a consensus target price of $61.50.

Nutrien Price Performance

Shares of NTR traded up $0.24 during trading hours on Tuesday, reaching $47.72. The stock had a trading volume of 1,824,578 shares, compared to its average volume of 1,928,030. 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 12 month low of $44.65 and a 12 month high of $63.60. The stock has a market capitalization of $23.61 billion, a PE ratio of 27.92, a PEG ratio of 1.53 and a beta of 0.82. The company's 50-day moving average is $47.95 and its two-hundred day moving average is $51.81.

Nutrien (NYSE:NTR - Get Free Report) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $2.34 earnings per share for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $10.82 billion. During the same period in the prior year, the business earned $2.53 EPS. The firm's revenue for the quarter was down 12.9% on a year-over-year basis. Research analysts expect that Nutrien will post 3.81 EPS for the current year.

Nutrien Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 18th. Investors of record on Friday, September 27th will be paid a $0.54 dividend. The ex-dividend date is Friday, September 27th. This represents a $2.16 annualized dividend and a dividend yield of 4.53%. Nutrien's payout ratio is presently 126.32%.

Hedge Funds Weigh In On Nutrien

A number of institutional investors have recently bought and sold shares of the stock. PNC Financial Services Group Inc. raised its holdings in Nutrien by 3.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 14,332 shares of the company's stock worth $807,000 after purchasing an additional 432 shares in the last quarter. Corient Private Wealth LLC lifted its position in Nutrien by 8.7% during the 4th quarter. Corient Private Wealth LLC now owns 27,810 shares of the company's stock valued at $1,567,000 after acquiring an additional 2,229 shares during the period. Nomura Asset Management Co. Ltd. boosted its stake in Nutrien by 75.5% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 114,800 shares of the company's stock worth $6,467,000 after acquiring an additional 49,400 shares in the last quarter. Hsbc Holdings PLC grew its holdings in Nutrien by 35.0% in the fourth quarter. Hsbc Holdings PLC now owns 349,226 shares of the company's stock worth $19,670,000 after purchasing an additional 90,567 shares during the period. Finally, Parallel Advisors LLC increased its stake in shares of Nutrien by 41.0% during the fourth quarter. Parallel Advisors LLC now owns 1,049 shares of the company's stock valued at $59,000 after purchasing an additional 305 shares in the last quarter. 63.10% of the stock is owned by institutional investors.

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.