Nutrien (NTR) Outpaces Stock Market Gains: What You Should Know
Nutrien (NTR) closed at $58.16 in the latest trading session, marking a +1.66% move from the prior day. The stock outperformed the S&P 500, which registered a daily gain of 0.81%. Meanwhile, the Dow experienced a rise of 0.39%, and the technology-dominated Nasdaq saw an increase of 1.35%.
The the stock of producer of potash and other fertilizers has fallen by 10.8% in the past month, lagging the Basic Materials sector's loss of 7.36% and the S&P 500's loss of 6.19%.
The investment community will be closely monitoring the performance of Nutrien in its forthcoming earnings report. The company is scheduled to release its earnings on November 1, 2023. It is anticipated that the company will report an EPS of $0.72, marking a 71.31% fall compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $5.68 billion, down 30.6% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of $5.44 per share and a revenue of $28.61 billion, demonstrating changes of -58.76% and -24.48%, respectively, from the preceding year.
It is also important to note the recent changes to analyst estimates for Nutrien. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.06% lower within the past month. Currently, Nutrien is carrying a Zacks Rank of #3 (Hold).
With respect to valuation, Nutrien is currently being traded at a Forward P/E ratio of 10.52. This valuation marks a premium compared to its industry's average Forward P/E of 10.41.
Investors should also note that NTR has a PEG ratio of 1.32 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. Fertilizers stocks are, on average, holding a PEG ratio of 1.32 based on yesterday's closing prices.
The Fertilizers industry is part of the Basic Materials sector. At present, this industry carries a Zacks Industry Rank of 82, placing it within the top 33% of over 250 industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Nutrien Ltd. (NTR) : Free Stock Analysis Report
