Compass Minerals International (NYSE:CMP) Releases Earnings Results, Misses Expectations By $0.08 EPS

Compass Minerals International (NYSE:CMP) announced its earnings results on Wednesday. The basic materials company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.08), FiscalAI reports. Compass Minerals International had a net margin of 1.42% and a return on equity of 12.84%. The business had revenue of $215.30 million during the quarter, compared to the consensus estimate of $207.75 million. During the same period in the previous year, the firm posted ($0.39) EPS. The company’s revenue was up .3% compared to the same quarter last year.

Compass Minerals International Stock Performance

NYSE CMP traded up $1.60 during trading hours on Friday, reaching $27.27. 428,059 shares of the company were exchanged, compared to its average volume of 565,377. The stock has a market capitalization of $1.14 billion, a P/E ratio of 63.59 and a beta of 1.23. The company has a quick ratio of 1.34, a current ratio of 2.06 and a debt-to-equity ratio of 2.60. Compass Minerals International has a 1 year low of $16.40 and a 1 year high of $34.50. The business’s 50 day simple moving average is $30.03 and its 200-day simple moving average is $26.88.

Institutional Investors Weigh In On Compass Minerals International

A number of hedge funds have recently modified their holdings of CMP. Royal Bank of Canada boosted its position in Compass Minerals International by 10.5% during the first quarter. Royal Bank of Canada now owns 49,928 shares of the basic materials company’s stock worth $464,000 after purchasing an additional 4,740 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Compass Minerals International by 4.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,665 shares of the basic materials company’s stock valued at $192,000 after purchasing an additional 858 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Compass Minerals International by 16.1% during the second quarter. JPMorgan Chase & Co. now owns 191,626 shares of the basic materials company’s stock valued at $3,850,000 after buying an additional 26,531 shares during the period. Legal & General Group Plc raised its stake in Compass Minerals International by 15.4% during the second quarter. Legal & General Group Plc now owns 39,625 shares of the basic materials company’s stock valued at $796,000 after buying an additional 5,292 shares during the last quarter. Finally, Prudential Financial Inc. purchased a new stake in shares of Compass Minerals International in the second quarter worth $267,000. Institutional investors own 99.78% of the company’s stock.

Analysts Set New Price Targets

CMP has been the subject of several analyst reports. Zacks Research cut shares of Compass Minerals International from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 4th. Compass Point set a $30.00 price target on shares of Compass Minerals International in a report on Thursday, May 14th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $35.00 target price on shares of Compass Minerals International in a research report on Wednesday, May 27th. Weiss Ratings upgraded Compass Minerals International from a “sell (d)” rating to a “sell (d+)” rating in a report on Thursday, June 18th. Finally, Wall Street Zen lowered shares of Compass Minerals International from a “buy” rating to a “hold” rating in a report on Sunday, August 2nd. One investment analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $28.80.

About Compass Minerals International

Compass Minerals International, Inc is a global producer of essential mineral-based products, primarily known for its salt and plant nutrition portfolios. The company’s deicing salts are used by municipalities and commercial customers across North America to maintain safer roadways in winter months. In addition, its water conditioning salts serve both residential and industrial users, supporting water treatment systems that remove hard minerals to protect plumbing and equipment.

Beyond conventional salt products, Compass Minerals has developed a specialty plant nutrition business focused on sulfate of potash (SOP), a premium fertilizer that provides both potassium and sulfur to crops.