Short Interest in Nutrien Ltd. (NYSE:NTR) Increases By 48.6%
by Renee Jackson · The Cerbat GemNutrien Ltd. (NYSE:NTR – Get Free Report) was the target of a significant growth in short interest during the month of December. As of December 31st, there was short interest totaling 18,013,937 shares, a growth of 48.6% from the December 15th total of 12,124,530 shares. Based on an average daily volume of 2,194,617 shares, the days-to-cover ratio is presently 8.2 days. Currently, 3.9% of the shares of the company are short sold. Currently, 3.9% of the shares of the company are short sold. Based on an average daily volume of 2,194,617 shares, the days-to-cover ratio is presently 8.2 days.
Nutrien Price Performance
Shares of NYSE NTR traded down $1.37 during midday trading on Friday, hitting $66.46. The company had a trading volume of 2,847,483 shares, compared to its average volume of 2,374,346. The firm has a market capitalization of $32.03 billion, a price-to-earnings ratio of 17.91 and a beta of 0.72. Nutrien has a twelve month low of $45.78 and a twelve month high of $67.94. The business has a 50-day simple moving average of $60.53 and a two-hundred day simple moving average of $58.92. The company has a quick ratio of 0.89, a current ratio of 1.41 and a debt-to-equity ratio of 0.39.
Nutrien (NYSE:NTR – Get Free Report) last issued its earnings results on Wednesday, November 5th. The company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.06. Nutrien had a net margin of 6.79% and a return on equity of 7.54%. The company had revenue of $5.82 billion for the quarter, compared to analyst estimates of $5.59 billion. During the same period in the prior year, the business posted $0.39 earnings per share. The firm’s revenue for the quarter was up 12.3% compared to the same quarter last year. Equities research analysts anticipate that Nutrien will post 3.72 earnings per share for the current year.
Nutrien Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, January 16th. Shareholders of record on Wednesday, December 31st were given a dividend of $0.545 per share. This represents a $2.18 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date was Wednesday, December 31st. Nutrien’s payout ratio is presently 58.76%.
Wall Street Analyst Weigh In
A number of equities analysts recently weighed in on the stock. Mizuho lifted their price objective on shares of Nutrien from $65.00 to $68.00 and gave the company a “neutral” rating in a research report on Friday. Wells Fargo & Company began coverage on shares of Nutrien in a report on Tuesday, November 11th. They issued an “equal weight” rating and a $64.00 target price on the stock. Oppenheimer reiterated an “outperform” rating on shares of Nutrien in a research note on Wednesday, October 22nd. Scotiabank reduced their price objective on shares of Nutrien from $65.00 to $63.00 and set a “sector perform” rating for the company in a research report on Monday, November 10th. Finally, Wall Street Zen lowered Nutrien from a “buy” rating to a “hold” rating in a report on Saturday. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $65.12.
Read Our Latest Research Report on NTR
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in NTR. Root Financial Partners LLC acquired a new stake in Nutrien in the 3rd quarter valued at about $37,000. Huntington National Bank lifted its holdings in shares of Nutrien by 72.6% in the second quarter. Huntington National Bank now owns 656 shares of the company’s stock valued at $38,000 after purchasing an additional 276 shares in the last quarter. Eastern Bank grew its position in shares of Nutrien by 133.0% in the fourth quarter. Eastern Bank now owns 699 shares of the company’s stock valued at $43,000 after purchasing an additional 399 shares during the last quarter. Geneos Wealth Management Inc. grew its position in shares of Nutrien by 42.4% in the second quarter. Geneos Wealth Management Inc. now owns 735 shares of the company’s stock valued at $43,000 after purchasing an additional 219 shares during the last quarter. Finally, Fulcrum Asset Management LLP purchased a new position in shares of Nutrien during the 3rd quarter worth approximately $46,000. Hedge funds and other institutional investors own 63.10% of the company’s stock.
About Nutrien
Nutrien Ltd. is a global fertilizer and agricultural-services company headquartered in Saskatoon, Saskatchewan, Canada. The company is publicly traded and operates across the farm input value chain, combining upstream fertilizer production with a broad retail and services platform aimed at supporting crop production worldwide. Nutrien’s business model integrates the manufacture and distribution of crop nutrients with on-the-ground agronomic support for growers and agricultural businesses.
Nutrien produces and supplies the three primary fertilizer nutrients—potash, nitrogen and phosphate—through its wholesale operations, and markets a wide range of crop inputs including seeds and crop protection products.