CIBC Reiterates $70.00 Price Target for Nutrien (NYSE:NTR)

CIBC set a $70.00 price objective on Nutrien (NYSE:NTR) in a report issued on Wednesday morning, TipRanks reports. The firm currently has a buy rating on the stock.

NTR has been the subject of a number of other reports. TD Securities lifted their target price on shares of Nutrien from $68.00 to $69.00 and gave the stock a buy rating in a research note on Wednesday, July 31st. Stifel Nicolaus lowered their target price on shares of Nutrien from $63.00 to $62.00 and set a buy rating for the company in a research note on Friday, October 4th. ValuEngine upgraded shares of Nutrien from a sell rating to a hold rating in a research note on Wednesday, October 2nd. Zacks Investment Research cut shares of Nutrien from a hold rating to a sell rating in a research note on Wednesday. Finally, Bank of America upgraded shares of Nutrien from an underperform rating to a neutral rating in a research note on Friday, August 16th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. Nutrien currently has an average rating of Buy and a consensus price target of $62.13.

NYSE:NTR opened at $50.89 on Wednesday. Nutrien has a fifty-two week low of $43.96 and a fifty-two week high of $57.97. The stock has a market capitalization of $28.23 billion, a P/E ratio of 17.66, a P/E/G ratio of 2.59 and a beta of 0.91. The company’s 50-day simple moving average is $50.12 and its 200-day simple moving average is $51.50.

Nutrien (NYSE:NTR) last released its quarterly earnings results on Monday, July 29th. The company reported $1.58 earnings per share for the quarter, missing analysts’ consensus estimates of $1.59 by ($0.01). The firm had revenue of $8.66 billion for the quarter, compared to analyst estimates of $8.17 billion. During the same quarter in the prior year, the company earned $1.48 EPS. The business’s quarterly revenue was up 6.8% on a year-over-year basis. Equities analysts expect that Nutrien will post 2.38 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 17th. Investors of record on Monday, September 30th will be paid a $0.45 dividend. The ex-dividend date is Friday, September 27th. This is a boost from Nutrien’s previous quarterly dividend of $0.43. This represents a $1.80 dividend on an annualized basis and a yield of 3.54%. Nutrien’s dividend payout ratio (DPR) is 66.91%.

A number of institutional investors and hedge funds have recently bought and sold shares of NTR. LS Investment Advisors LLC purchased a new position in Nutrien during the 2nd quarter worth approximately $27,000. Bessemer Group Inc. raised its position in Nutrien by 354.4% during the 2nd quarter. Bessemer Group Inc. now owns 727 shares of the company’s stock worth $39,000 after buying an additional 567 shares during the last quarter. Liberty Wealth Management LLC raised its position in Nutrien by 340.5% during the 2nd quarter. Liberty Wealth Management LLC now owns 740 shares of the company’s stock worth $40,000 after buying an additional 572 shares during the last quarter. Coastal Investment Advisors Inc. raised its position in Nutrien by 63.8% during the 2nd quarter. Coastal Investment Advisors Inc. now owns 929 shares of the company’s stock worth $49,000 after buying an additional 362 shares during the last quarter. Finally, SRS Capital Advisors Inc. purchased a new position in Nutrien during the 2nd quarter worth approximately $51,000. 65.50% of the stock is owned by institutional investors.

Nutrien Company Profile

Nutrien Ltd. produces and markets crop nutrients to agricultural, industrial, and feed customers worldwide. It operates in four segments: Retail, Potash, Nitrogen, and Phosphate and Sulfate. The company offers potash, nitrogen, phosphate, and sulfate products. It also distributes crop nutrients, crop protection products, seeds, and merchandise products through operating 1,700 retail locations.

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Analyst Recommendations for Nutrien (NYSE:NTR)

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