Nutrien (NTR), a leading global agriculture company, is gearing up to announce its quarterly earnings data on August 2nd after the market closes. As anticipation builds, analysts are projecting earnings of $2.97 per share for the quarter.
Previous Earnings Report
In its last earnings report on May 10th, Nutrien reported earnings per share (EPS) of $1.11 for the quarter. Unfortunately, this fell short of analysts’ consensus estimates of $1.54 by ($0.43). The company’s net margin was recorded at 18.86%, with a return on equity of 23.85%. Additionally, Nutrien’s revenue for the quarter was $6.11 billion, slightly below analyst estimates of $6.67 billion.
Stock Performance
Despite the challenges faced in the previous quarter, Nutrien’s stock has shown resilience. On the most recent trading day, the stock rose by 0.9%, opening at $66.82. Over the past year, Nutrien’s stock has ranged from a low of $52.23 to a high of $102.73. The company currently boasts a market capitalization of $33.04 billion.
Dividend Announcement
Nutrien has recently declared a quarterly dividend, with stockholders of record on June 30th receiving a payout of $0.53 per share. This amounts to an annualized dividend of $2.12 per share, offering a dividend yield of 3.17%. At present, Nutrien’s dividend payout ratio stands at 16.64%.
Hedge Fund Activity
Several hedge funds have made notable moves in relation to Nutrien’s stock. ProShare Advisors LLC acquired a new position in the company during the first quarter, valued at approximately $258,000. Similarly, Arete Wealth Advisors LLC also purchased shares in the first quarter, amounting to about $218,000. B. Riley Wealth Advisors Inc. increased its position in Nutrien by 9.9% during the same period, now owning 40,510 shares worth $3,029,000.
Wall Street Analyst Insights
Analysts from various financial institutions have weighed in on Nutrien’s stock. Bank of America decreased their price target on the stock from $94.00 to $85.00 in a research note. The Goldman Sachs Group also adjusted their target price, lowering it from $119.00 to $106.00 while maintaining a “buy” rating. In contrast, Wells Fargo & Company upgraded Nutrien from an “equal weight” rating to “overweight,” raising the price objective to $82.00.
Overall, the majority of analysts have given Nutrien a “buy” rating, with a consensus target price of $86.44. With expectations running high, the report’s release on August 2nd will likely have a significant impact on Nutrien’s stock performance in the market.
