Nutrien Ltd. (NYSE:NTR) Sees Large Growth in Short Interest
by Michael Walen · The Markets DailyNutrien Ltd. (NYSE:NTR – Get Free Report) was the target of a large growth in short interest in the month of December. As of December 15th, there was short interest totaling 12,124,530 shares, a growth of 152.1% from the November 30th total of 4,808,680 shares. Currently, 2.6% of the company’s shares are sold short. Based on an average trading volume of 3,244,227 shares, the short-interest ratio is currently 3.7 days. Based on an average trading volume of 3,244,227 shares, the short-interest ratio is currently 3.7 days. Currently, 2.6% of the company’s shares are sold short.
Wall Street Analyst Weigh In
Several equities research analysts have commented on NTR shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Nutrien in a research note on Monday, December 22nd. National Bankshares started coverage on shares of Nutrien in a research report on Friday, September 5th. They set a “sector perform” rating and a $64.00 price target on the stock. Bank of America restated a “neutral” rating and issued a $67.00 price objective on shares of Nutrien in a research report on Tuesday, October 14th. Wall Street Zen downgraded Nutrien from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 5th. Finally, Mizuho lifted their target price on Nutrien from $61.00 to $65.00 and gave the stock a “neutral” rating in a report on Thursday, December 18th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $63.17.
View Our Latest Research Report on NTR
Nutrien Stock Down 1.2%
Shares of NYSE:NTR traded down $0.75 during midday trading on Friday, reaching $62.80. 1,557,662 shares of the company were exchanged, compared to its average volume of 2,692,460. The firm has a market cap of $30.36 billion, a PE ratio of 16.93 and a beta of 0.72. Nutrien has a fifty-two week low of $43.69 and a fifty-two week high of $65.08. The stock has a fifty day simple moving average of $58.66 and a two-hundred day simple moving average of $58.72. 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 released its earnings results on Wednesday, November 5th. The company reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.91 by $0.06. The firm had revenue of $5.82 billion during the quarter, compared to analysts’ expectations of $5.59 billion. Nutrien had a return on equity of 7.54% and a net margin of 6.79%.The company’s revenue was up 12.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.39 EPS. As a group, sell-side analysts forecast 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 will be paid on Friday, January 16th. Investors of record on Wednesday, December 31st will be given a $0.545 dividend. This represents a $2.18 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date of this dividend is Wednesday, December 31st. Nutrien’s dividend payout ratio (DPR) is currently 58.76%.
Hedge Funds Weigh In On Nutrien
Large investors have recently bought and sold shares of the company. Root Financial Partners LLC bought a new stake in shares of Nutrien in the third quarter worth $37,000. Huntington National Bank grew its position in 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. Geneos Wealth Management Inc. increased its stake in Nutrien by 42.4% in the 2nd quarter. Geneos Wealth Management Inc. now owns 735 shares of the company’s stock valued at $43,000 after buying an additional 219 shares during the last quarter. Fulcrum Asset Management LLP acquired a new stake in Nutrien in the 3rd quarter valued at $46,000. Finally, Trust Co. of Toledo NA OH bought a new stake in Nutrien during the 2nd quarter worth about $49,000. Institutional investors and hedge funds 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.