Nutrien Ltd. (NYSE:NTR) reported worse-than-expected Q1 financial results and issued FY23 adjusted EPS guidance below estimates.
Nutrien posted adjusted earnings of $1.11 per share, missing analysts’ estimates of $1.49 per share. The company’s quarterly sales came in at $6.11 billion, missing expectations of $6.43 billion.
Nutrien said it sees FY23 adjusted earnings of $5.50 to $7.50 per share, versus analysts’ estimates of $8.63 per share.
Nutrien shares fell 4.1% to trade at $59.19 on Friday.
These analysts made changes to their price targets on Nutrien following earnings announcement.
- Barclays cut the price target on Nutrien from $93 to $80. Barclays analyst Benjamin Theurer maintained an Overweight rating.
- Mizuho lowered the price target on Nutrien from $79 to $75. Mizuho analyst Christopher Parkinson maintained a Neutral rating
- RBC Capital cut Nutrien price target from $100 to $95. RBC Capital analyst Andrew Quail maintained the stock with an Outperform.
- Credit Suisse, on Thursday, slashed Nutrien price target from $70 to $60. Credit Suisse analyst Edlain Rodriguez reiterated the stock with an Underperform.
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