Nutrien Ltd. to Post Q3 2024 Earnings of $0.57 Per Share, Zacks Research Forecasts (NYSE:NTR)

Nutrien Ltd. (NYSE:NTR) – Zacks Research increased their Q3 2024 earnings per share (EPS) estimates for Nutrien in a report released on Tuesday, May 21st. Zacks Research analyst S. Rathi now anticipates that the company will post earnings of $0.57 per share for the quarter, up from their previous forecast of $0.56. The consensus estimate for Nutrien’s current full-year earnings is $3.90 per share. Zacks Research also issued estimates for Nutrien’s Q4 2024 earnings at $0.58 EPS, FY2024 earnings at $3.54 EPS, Q1 2025 earnings at $0.39 EPS, Q2 2025 earnings at $1.61 EPS, Q3 2025 earnings at $0.86 EPS, Q4 2025 earnings at $0.72 EPS and FY2025 earnings at $3.58 EPS.

Nutrien (NYSE:NTR) last posted its quarterly 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 the consensus estimate of $5.36 billion. Nutrien had a net margin of 3.01% and a return on equity of 7.31%. The company’s revenue for the quarter was down 24.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.02 EPS.

A number of other research analysts also recently issued reports on the company. Wolfe Research initiated coverage on Nutrien in a report on Friday, March 1st. They issued an “outperform” rating and a $66.00 price target on the stock. Wells Fargo & Company boosted their target price on shares of Nutrien from $67.00 to $68.00 and gave the stock an “overweight” rating in a report on Friday, May 10th. CIBC lowered their price target on shares of Nutrien from $87.00 to $76.00 and set an “outperform” rating on the stock in a report on Friday, February 23rd. Mizuho lifted their price objective on shares of Nutrien from $54.00 to $56.00 and gave the stock an “underweight” rating in a research report on Friday, May 17th. Finally, HSBC decreased their target price on shares of Nutrien from $63.00 to $57.00 and set a “hold” rating for the company in a research report on Friday, March 8th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $67.32.

Nutrien Stock Performance

Shares of NYSE:NTR opened at $59.21 on Thursday. The firm has a 50 day moving average of $54.72 and a 200 day moving average of $53.86. The company has a quick ratio of 0.53, a current ratio of 1.15 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $29.28 billion, a price-to-earnings ratio of 34.63, a price-to-earnings-growth ratio of 1.91 and a beta of 0.88. Nutrien has a 52 week low of $47.90 and a 52 week high of $69.12.

Nutrien Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 19th. Shareholders of record on Friday, June 28th will be given a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 3.65%. The ex-dividend date of this dividend is Friday, June 28th. Nutrien’s dividend payout ratio is presently 126.32%.

Institutional Trading of Nutrien

Institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in Nutrien by 3.1% during the first quarter. Vanguard Group Inc. now owns 18,781,287 shares of the company’s stock valued at $1,020,012,000 after purchasing an additional 570,912 shares during the period. Deutsche Bank AG lifted its holdings in shares of Nutrien by 1.5% in the 3rd quarter. Deutsche Bank AG now owns 14,708,135 shares of the company’s stock valued at $908,374,000 after buying an additional 214,299 shares during the period. Mackenzie Financial Corp boosted its stake in shares of Nutrien by 1.8% in the fourth quarter. Mackenzie Financial Corp now owns 13,331,450 shares of the company’s stock worth $751,381,000 after buying an additional 239,578 shares during the last quarter. Parnassus Investments LLC grew its holdings in Nutrien by 19.5% during the fourth quarter. Parnassus Investments LLC now owns 12,017,181 shares of the company’s stock worth $676,928,000 after acquiring an additional 1,960,162 shares during the period. Finally, First Eagle Investment Management LLC grew its holdings in Nutrien by 0.5% during the first quarter. First Eagle Investment Management LLC now owns 9,571,272 shares of the company’s stock worth $519,816,000 after acquiring an additional 50,369 shares during the period. 63.10% of the stock is currently owned by institutional investors and hedge funds.

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.