Wall Street brokerages expect that Intrepid Potash, Inc. (NYSE:IPI) will report earnings of $0.04 per share for the current quarter, Zacks Investment Research reports. Zero analysts have issued estimates for Intrepid Potash’s earnings. Intrepid Potash reported earnings of ($0.03) per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 233.3%. The company is expected to report its next quarterly earnings results on Wednesday, August 1st.
According to Zacks, analysts expect that Intrepid Potash will report full-year earnings of $0.13 per share for the current year, with EPS estimates ranging from $0.11 to $0.15. For the next financial year, analysts anticipate that the company will post earnings of $0.18 per share, with EPS estimates ranging from $0.12 to $0.25. Zacks Investment Research’s earnings per share averages are an average based on a survey of analysts that that provide coverage for Intrepid Potash.
Intrepid Potash (NYSE:IPI) last issued its quarterly earnings results on Tuesday, April 24th. The basic materials company reported $0.01 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.02 by ($0.01). The business had revenue of $38.57 million during the quarter, compared to the consensus estimate of $35.48 million. Intrepid Potash had a negative return on equity of 1.82% and a negative net margin of 4.60%. The firm’s revenue was down 2.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.17) earnings per share.
IPI has been the subject of several research reports. Zacks Investment Research upgraded shares of Intrepid Potash from a “hold” rating to a “buy” rating and set a $4.50 price target for the company in a research note on Thursday, April 26th. ValuEngine upgraded shares of Intrepid Potash from a “strong sell” rating to a “sell” rating in a research note on Wednesday, May 2nd. Finally, Stephens upgraded shares of Intrepid Potash from an “equal weight” rating to an “overweight” rating and set a $5.00 price objective for the company in a research note on Wednesday, May 9th. One research analyst has rated the stock with a sell rating, four have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $3.95.
Shares of Intrepid Potash stock traded up $0.01 during trading on Thursday, hitting $4.07. The company’s stock had a trading volume of 43,293 shares, compared to its average volume of 806,199. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.28 and a quick ratio of 1.17. The firm has a market cap of $529.88 million, a price-to-earnings ratio of -22.44 and a beta of 0.86. Intrepid Potash has a 52 week low of $2.26 and a 52 week high of $5.31.
In other Intrepid Potash news, VP Joseph G. Montoya sold 20,047 shares of the firm’s stock in a transaction dated Tuesday, June 5th. The shares were sold at an average price of $4.67, for a total transaction of $93,619.49. Following the completion of the sale, the vice president now directly owns 89,699 shares in the company, valued at approximately $418,894.33. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Financial Holdings Ltd Fairfax sold 4,155,064 shares of the firm’s stock in a transaction dated Tuesday, May 8th. The shares were sold at an average price of $3.97, for a total transaction of $16,495,604.08. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 7,371,333 shares of company stock valued at $30,815,628. 27.30% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in IPI. MetLife Investment Advisors LLC purchased a new position in shares of Intrepid Potash in the fourth quarter worth approximately $106,000. Jane Street Group LLC purchased a new position in shares of Intrepid Potash in the fourth quarter worth approximately $118,000. LPL Financial LLC purchased a new position in shares of Intrepid Potash in the fourth quarter worth approximately $132,000. Global X Management Co. LLC purchased a new position in shares of Intrepid Potash in the first quarter worth approximately $140,000. Finally, Jefferies Group LLC purchased a new position in shares of Intrepid Potash in the fourth quarter worth approximately $149,000. 47.26% of the stock is currently owned by hedge funds and other institutional investors.
Intrepid Potash Company Profile
Intrepid Potash, Inc produces and sells potash and langbeinite products in the United States and internationally. It operates through two segments, Potash and Trio. The Potash segment offers muriate of potash or potassium chloride for use as a fertilizer input in the agricultural market; as a component in drilling and fracturing fluids for oil and gas wells, as well as an input to other industrial processes in the industrial market; and as a nutrient supplement in the animal feed market.
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