Nutrien (NTR) Dips More Than Broader Market: What You Should Know
Nutrien (NTR) closed at $50.12 in the latest trading session, marking a -1.71% move from the prior day. This change lagged the S&P 500's daily loss of 0.32%. At the same time, the Dow lost 0.71%, and the tech-heavy Nasdaq lost 0.2%.
Shares of the producer of potash and other fertilizers have depreciated by 9.24% over the course of the past month, underperforming the Basic Materials sector's loss of 6.21% and the S&P 500's gain of 4.59%.
Analysts and investors alike will be keeping a close eye on the performance of Nutrien in its upcoming earnings disclosure. The company's earnings report is set to go public on February 21, 2024. The company's earnings per share (EPS) are projected to be $0.72, reflecting a 64.36% decrease from the same quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $5.24 billion, down 30.4% from the prior-year quarter.
Investors might also notice recent changes to analyst estimates for Nutrien. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 4.4% lower. Nutrien presently features a Zacks Rank of #3 (Hold).
Investors should also note Nutrien's current valuation metrics, including its Forward P/E ratio of 10.99. This valuation marks a premium compared to its industry's average Forward P/E of 10.5.
Investors should also note that NTR has a PEG ratio of 1.37 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. As the market closed yesterday, the Fertilizers industry was having an average PEG ratio of 1.38.
The Fertilizers industry is part of the Basic Materials sector. With its current Zacks Industry Rank of 194, this industry ranks in the bottom 24% of all industries, numbering over 250.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Nutrien Ltd. (NTR) : Free Stock Analysis Report
