Zacks Investment Research Lowers Nutrien (NYSE:NTR) to Strong Sell

Zacks Investment Research downgraded shares of Nutrien (NYSE:NTR) from a hold rating to a strong sell rating in a research report report published on Wednesday morning, Zacks.com reports.

According to Zacks, “Nutrien Ltd. produces and sells fertilizers and related industrial and feed products. The company’s products primarily include standard and granular potash; diammonium phosphate, monoammonium phosphate and phosphoric acid and ammonia, urea, nitric acid, ammonium nitrate and nitrogen solutions, as well as purified acids and phosphate feed products. Nutrien Ltd., formerly known as Potash Corporation of Saskatchewan Inc., is headquartered in Saskatoon, Canada. “

Other analysts have also recently issued research reports about the stock. Stifel Nicolaus reduced their price objective on shares of Nutrien from $63.00 to $62.00 and set a buy rating on the stock in a research note on Friday, October 4th. ValuEngine raised shares of Nutrien from a sell rating to a hold rating in a research note on Wednesday, October 2nd. Susquehanna Bancshares reduced their price objective on shares of Nutrien from $65.00 to $61.00 in a research note on Tuesday, November 19th. Scotiabank set a $60.00 price objective on shares of Nutrien and gave the stock a buy rating in a research note on Thursday, September 26th. Finally, Morgan Stanley reduced their price objective on shares of Nutrien from $54.00 to $50.00 and set an equal weight rating on the stock in a research note on Wednesday, December 11th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Nutrien currently has an average rating of Buy and a consensus price target of $59.69.

Shares of NYSE NTR traded down $0.42 during midday trading on Wednesday, reaching $47.21. 1,279,587 shares of the company were exchanged, compared to its average volume of 1,016,676. The stock’s 50-day moving average price is $47.48 and its 200-day moving average price is $49.75. The stock has a market cap of $27.29 billion, a P/E ratio of 17.55, a PEG ratio of 1.94 and a beta of 0.90. Nutrien has a one year low of $45.82 and a one year high of $56.00. The company has a quick ratio of 0.77, a current ratio of 1.28 and a debt-to-equity ratio of 0.41.

Nutrien (NYSE:NTR) last issued its quarterly earnings data on Monday, November 4th. The company reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.12). Nutrien had a return on equity of 6.49% and a net margin of 20.95%. The business had revenue of $4.13 billion during the quarter, compared to the consensus estimate of $4.02 billion. During the same period in the prior year, the firm earned $0.47 EPS. The business’s revenue for the quarter was up 3.6% compared to the same quarter last year. On average, equities research analysts anticipate that Nutrien will post 2.28 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 16th. Investors of record on Tuesday, December 31st will be issued a $0.45 dividend. The ex-dividend date of this dividend is Monday, December 30th. This represents a $1.80 annualized dividend and a yield of 3.81%. Nutrien’s payout ratio is 66.91%.

A number of hedge funds have recently added to or reduced their stakes in NTR. First Interstate Bank lifted its holdings in Nutrien by 470.6% in the third quarter. First Interstate Bank now owns 970 shares of the company’s stock valued at $48,000 after buying an additional 800 shares during the period. Commonwealth Bank of Australia lifted its holdings in Nutrien by 46.1% in the second quarter. Commonwealth Bank of Australia now owns 1,318 shares of the company’s stock valued at $69,000 after buying an additional 416 shares during the period. KCS Wealth Advisory acquired a new position in Nutrien in the third quarter valued at $75,000. Atlas Capital Advisors LLC acquired a new position in Nutrien in the third quarter valued at $100,000. Finally, Signaturefd LLC raised its holdings in shares of Nutrien by 29.0% during the third quarter. Signaturefd LLC now owns 3,573 shares of the company’s stock valued at $178,000 after purchasing an additional 804 shares during the period. Institutional investors and hedge funds own 63.88% of the company’s stock.

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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