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Nutrien (NTR) Gains As Market Dips: What You Should Know
In the latest trading session, Nutrien (NTR - Free Report) closed at $78.56, marking a +0.5% move from the previous day. This move outpaced the S&P 500's daily loss of 0.88%. Elsewhere, the Dow lost 0.73%, while the tech-heavy Nasdaq lost 4.59%.
Prior to today's trading, shares of the producer of potash and other fertilizers had gained 5.51% over the past month. This has outpaced the Basic Materials sector's gain of 3.36% and lagged the S&P 500's gain of 5.83% in that time.
Wall Street will be looking for positivity from Nutrien as it approaches its next earnings report date. This is expected to be February 15, 2023. In that report, analysts expect Nutrien to post earnings of $2.63 per share. This would mark year-over-year growth of 6.48%. Our most recent consensus estimate is calling for quarterly revenue of $7.55 billion, up 3.88% from the year-ago period.
It is also important to note the recent changes to analyst estimates for Nutrien. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 10.21% lower. Nutrien is holding a Zacks Rank of #5 (Strong Sell) right now.
In terms of valuation, Nutrien is currently trading at a Forward P/E ratio of 6.74. This valuation marks a premium compared to its industry's average Forward P/E of 6.33.
Meanwhile, NTR's PEG ratio is currently 0.84. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. NTR's industry had an average PEG ratio of 0.84 as of yesterday's close.
The Fertilizers industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 236, putting it in the bottom 7% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within 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 follow all of these stock-moving metrics, and many more, on Zacks.com.