-$0.02 EPS Expected for Intrepid Potash, Inc (IPI) This Quarter
Analysts predict that Intrepid Potash, Inc (NYSE:IPI) will post earnings per share (EPS) of ($0.02) for the current quarter, Zacks Investment Research reports. Zero analysts have provided estimates for Intrepid Potash’s earnings. Intrepid Potash reported earnings of ($0.19) per share during the same quarter last year, which indicates a positive year-over-year growth rate of 89.5%. The business is expected to report its next quarterly earnings report on Tuesday, February 27th.
On average, analysts expect that Intrepid Potash will report full year earnings of ($0.20) per share for the current fiscal year. For the next fiscal year, analysts anticipate that the business will report earnings of $0.05 per share. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research analysts that that provide coverage for Intrepid Potash.
Intrepid Potash (NYSE:IPI) last announced its quarterly earnings results on Monday, October 30th. The basic materials company reported ($0.02) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.04) by $0.02. The company had revenue of $32.06 million during the quarter, compared to the consensus estimate of $33.15 million. Intrepid Potash had a negative return on equity of 8.09% and a negative net margin of 22.88%. Intrepid Potash’s revenue for the quarter was down 26.5% on a year-over-year basis. During the same period in the previous year, the business earned ($0.22) EPS.
IPI has been the subject of a number of recent analyst reports. BidaskClub raised Intrepid Potash from a “buy” rating to a “strong-buy” rating in a report on Wednesday, August 2nd. Zacks Investment Research downgraded Intrepid Potash from a “hold” rating to a “strong sell” rating in a report on Wednesday, July 26th. BMO Capital Markets boosted their target price on Intrepid Potash from $3.00 to $4.00 and gave the company a “market perform” rating in a report on Tuesday, October 31st. Finally, UBS AG downgraded Intrepid Potash from a “neutral” rating to a “sell” rating and boosted their target price for the company from $2.00 to $2.50 in a report on Monday, August 7th.
In other news, major shareholder Clearway Capital Management Lt bought 17,100 shares of Intrepid Potash stock in a transaction dated Friday, August 18th. The stock was acquired at an average cost of $3.20 per share, with a total value of $54,720.00. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Robert P. Jornayvaz III bought 20,000 shares of Intrepid Potash stock in a transaction dated Monday, August 7th. The stock was purchased at an average cost of $3.31 per share, with a total value of $66,200.00. Following the completion of the acquisition, the insider now directly owns 1,206,650 shares in the company, valued at approximately $3,994,011.50. The disclosure for this purchase can be found here. Insiders bought a total of 981,300 shares of company stock valued at $3,301,725 over the last three months. Company insiders own 27.30% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of IPI. Bank of New York Mellon Corp raised its stake in Intrepid Potash by 1.4% during the 1st quarter. Bank of New York Mellon Corp now owns 568,163 shares of the basic materials company’s stock valued at $977,000 after acquiring an additional 7,793 shares during the last quarter. Ameriprise Financial Inc. raised its stake in Intrepid Potash by 50.1% during the 1st quarter. Ameriprise Financial Inc. now owns 847,566 shares of the basic materials company’s stock valued at $1,458,000 after acquiring an additional 282,913 shares during the last quarter. Parametric Portfolio Associates LLC raised its stake in Intrepid Potash by 30.6% during the 1st quarter. Parametric Portfolio Associates LLC now owns 126,394 shares of the basic materials company’s stock valued at $217,000 after acquiring an additional 29,646 shares during the last quarter. Wellington Management Group LLP raised its stake in Intrepid Potash by 180.0% during the 1st quarter. Wellington Management Group LLP now owns 126,757 shares of the basic materials company’s stock valued at $218,000 after acquiring an additional 81,484 shares during the last quarter. Finally, FMR LLC raised its stake in Intrepid Potash by 10.8% during the 1st quarter. FMR LLC now owns 5,392,100 shares of the basic materials company’s stock valued at $9,274,000 after acquiring an additional 525,600 shares during the last quarter. 47.30% of the stock is owned by hedge funds and other institutional investors.
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Shares of Intrepid Potash (NYSE:IPI) traded down $0.04 during midday trading on Friday, reaching $4.00. The company’s stock had a trading volume of 718,031 shares, compared to its average volume of 1,278,172. The company has a quick ratio of 1.21, a current ratio of 4.71 and a debt-to-equity ratio of 0.15. Intrepid Potash has a 12 month low of $1.00 and a 12 month high of $4.63.
About Intrepid Potash
Intrepid Potash, Inc is a producer of muriate of potash (potassium chloride or potash) and langbeinite (sulfate of potash magnesia) in the United States, which it markets and sells as Trio. The Company operates in the extraction, production and sale of potassium-related products. Its products are potash and Trio.
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