Compass Minerals International (NYSE:CMP) Shares Gap Down Following Weak Earnings

Compass Minerals International, Inc. (NYSE:CMP)’s share price gapped down prior to trading on Tuesday following a weaker than expected earnings announcement. The stock had previously closed at $12.61, but opened at $11.95. Compass Minerals International shares last traded at $12.19, with a volume of 213,796 shares traded.

The basic materials company reported ($0.77) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.82). Compass Minerals International had a negative net margin of 14.81% and a positive return on equity of 4.75%. The company had revenue of $208.80 million for the quarter, compared to analysts’ expectations of $323.61 million. During the same period last year, the business earned $0.05 earnings per share. The company’s quarterly revenue was down 38.9% compared to the same quarter last year.

Wall Street Analysts Forecast Growth

CMP has been the topic of several research reports. StockNews.com raised Compass Minerals International to a “sell” rating in a report on Wednesday, September 18th. BMO Capital Markets reaffirmed a “market perform” rating and set a $20.00 price objective on shares of Compass Minerals International in a report on Wednesday, September 18th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $31.00.

Institutional Investors Weigh In On Compass Minerals International

Institutional investors have recently modified their holdings of the stock. Denver PWM LLC purchased a new stake in Compass Minerals International during the 2nd quarter valued at $29,000. Signaturefd LLC increased its position in Compass Minerals International by 629.4% during the third quarter. Signaturefd LLC now owns 2,407 shares of the basic materials company’s stock valued at $29,000 after acquiring an additional 2,077 shares during the last quarter. Ridgewood Investments LLC purchased a new stake in shares of Compass Minerals International in the second quarter valued at $37,000. Allspring Global Investments Holdings LLC bought a new stake in shares of Compass Minerals International in the 2nd quarter worth about $45,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Compass Minerals International during the 2nd quarter worth about $46,000. 99.78% of the stock is owned by institutional investors.

Compass Minerals International Price Performance

The company has a debt-to-equity ratio of 2.47, a quick ratio of 0.74 and a current ratio of 2.90. The company has a market capitalization of $510.65 million, a P/E ratio of -3.08 and a beta of 1.17. The firm’s fifty day moving average is $13.59 and its 200 day moving average is $11.90.

About Compass Minerals International

Compass Minerals International, Inc, provides essential minerals in the United States, Canada, the United Kingdom, and internationally. It operates through two segments, Salt and Plant Nutrition. The Salt segment produces, markets, and sells sodium chloride and magnesium chloride, including rock salt, mechanically and solar evaporated salt, and brine and flake magnesium chloride products; and purchases potassium chloride and calcium chloride to sell as finished products or to blend with sodium chloride to produce specialty products.