Nutrien (NYSE:NTR) Shares Gap Up - Time to Buy?

Nutrien Ltd. (NYSE:NTR - Get Free Report) gapped up prior to trading on Monday . The stock had previously closed at $48.36, but opened at $50.50. Nutrien shares last traded at $50.50, with a volume of 713,562 shares.

Wall Street Analysts Forecast Growth

NTR has been the topic of several analyst reports. HSBC cut Nutrien from a "hold" rating to a "reduce" rating in a research report on Friday, August 2nd. Barclays lowered their target price on shares of Nutrien from $68.00 to $55.00 and set an "overweight" rating on the stock in a research note on Friday, August 16th. BMO Capital Markets reduced their price target on shares of Nutrien from $80.00 to $75.00 and set an "outperform" rating for the company in a research report on Friday, August 9th. The Goldman Sachs Group downgraded 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, Scotiabank reduced their target price 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. Three analysts have rated the stock with a sell rating, six have given a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $60.67.

Nutrien Trading Up 5.0 %

The firm has a market cap of $25.08 billion, a PE ratio of 30.23, a PEG ratio of 1.55 and a beta of 0.82. The firm has a fifty day simple moving average of $47.85 and a two-hundred day simple moving average of $50.69. The company has a current ratio of 1.26, a quick ratio of 0.82 and a debt-to-equity ratio of 0.37.

Nutrien (NYSE:NTR - Get Free Report) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $2.34 earnings per share for the quarter, topping 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 company had revenue of $10.16 billion for the quarter, compared to analysts' expectations of $10.82 billion. During the same period in the prior year, the firm earned $2.53 earnings per share. The firm's revenue for the quarter was down 12.9% on a year-over-year basis. Equities analysts forecast that Nutrien Ltd. will post 3.85 EPS for the current year.

Nutrien Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Friday, September 27th were issued a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 4.25%. The ex-dividend date of this dividend was Friday, September 27th. Nutrien's dividend payout ratio (DPR) is 135.00%.

Hedge Funds Weigh In On Nutrien

Institutional investors and hedge funds have recently modified their holdings of the stock. Lester Murray Antman dba SimplyRich lifted its position in Nutrien by 2.3% in the 2nd quarter. Lester Murray Antman dba SimplyRich now owns 9,069 shares of the company's stock valued at $461,000 after acquiring an additional 202 shares in the last quarter. FFT Wealth Management LLC raised its position in Nutrien by 0.8% in the 2nd quarter. FFT Wealth Management LLC now owns 29,220 shares of the company's stock worth $1,488,000 after buying an additional 220 shares during the last quarter. Covestor Ltd lifted its stake in Nutrien by 33.3% during the 1st quarter. Covestor Ltd now owns 932 shares of the company's stock valued at $50,000 after acquiring an additional 233 shares during the period. MONECO Advisors LLC boosted its holdings in shares of Nutrien by 2.4% during the 2nd quarter. MONECO Advisors LLC now owns 9,791 shares of the company's stock valued at $498,000 after acquiring an additional 233 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in shares of Nutrien by 6.5% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 4,309 shares of the company's stock valued at $207,000 after purchasing an additional 263 shares during the last quarter. 63.10% of the stock is currently owned by institutional investors.

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.