Nutrien Ltd. (NYSE:NTR) to Post Q2 2024 Earnings of $1.93 Per Share, Zacks Research Forecasts

Nutrien Ltd. (NYSE:NTR) – Equities research analysts at Zacks Research cut their Q2 2024 earnings per share estimates for shares of Nutrien in a research report issued to clients and investors on Tuesday, May 21st. Zacks Research analyst S. Rathi now anticipates that the company will post earnings of $1.93 per share for the quarter, down from their previous forecast of $2.10. The consensus estimate for Nutrien’s current full-year earnings is $3.90 per share.

A number of other research analysts also recently commented on NTR. Piper Sandler increased their target price on shares of Nutrien from $54.00 to $56.00 and gave the company an “underweight” rating in a research report on Friday, May 17th. HSBC dropped their price objective on Nutrien from $63.00 to $57.00 and set a “hold” rating on the stock in a report on Friday, March 8th. Scotiabank reduced their target price on Nutrien from $67.00 to $66.00 and set an “outperform” rating for the company in a report on Monday, May 13th. Wolfe Research started coverage on Nutrien in a research note on Friday, March 1st. They set an “outperform” rating and a $66.00 price target on the stock. Finally, CIBC reduced their price objective on Nutrien from $87.00 to $76.00 and set an “outperform” rating for the company in a research note on Friday, February 23rd. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, Nutrien has a consensus rating of “Hold” and an average price target of $67.32.

Nutrien Stock Down 0.7 %

NTR stock opened at $59.58 on Wednesday. The stock has a market cap of $29.47 billion, a P/E ratio of 34.84, a PEG ratio of 1.92 and a beta of 0.88. The company has a current ratio of 1.15, a quick ratio of 0.53 and a debt-to-equity ratio of 0.36. Nutrien has a twelve month low of $47.90 and a twelve month high of $69.12. The company’s 50 day moving average is $54.46 and its two-hundred day moving average is $53.77.

Nutrien (NYSE:NTR) last posted its earnings results on Wednesday, February 21st. The company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.72 by ($0.35). The business had revenue of $5.66 billion during the quarter, compared to analysts’ expectations of $5.36 billion. Nutrien had a net margin of 3.01% and a return on equity of 7.31%. The business’s quarterly revenue was down 24.8% compared to the same quarter last year. During the same period last year, the company earned $2.02 EPS.

Institutional Investors Weigh In On Nutrien

A number of institutional investors have recently added to or reduced their stakes in NTR. Virtu Financial LLC acquired a new stake in shares of Nutrien in the 1st quarter valued at approximately $394,000. Tidal Investments LLC raised its position in Nutrien by 17.7% in the first quarter. Tidal Investments LLC now owns 26,115 shares of the company’s stock worth $1,416,000 after acquiring an additional 3,920 shares in the last quarter. Murchinson Ltd. acquired a new stake in Nutrien in the first quarter valued at $6,547,000. B. Riley Wealth Advisors Inc. purchased a new stake in shares of Nutrien during the 1st quarter worth $2,186,000. Finally, Captrust Financial Advisors grew its stake in shares of Nutrien by 15.7% during the 1st quarter. Captrust Financial Advisors now owns 709,772 shares of the company’s stock worth $38,548,000 after purchasing an additional 96,463 shares during the period. Hedge funds and other institutional investors own 63.10% of the company’s stock.

Nutrien Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 19th. Investors of record on Friday, June 28th will be given a $0.54 dividend. The ex-dividend date is Friday, June 28th. This represents a $2.16 dividend on an annualized basis and a yield of 3.63%. Nutrien’s payout ratio is currently 126.32%.

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.