$0.04 EPS Expected for Intrepid Potash, Inc. (IPI) This Quarter

Wall Street analysts expect Intrepid Potash, Inc. (NYSE:IPI) to report earnings per share (EPS) of $0.04 for the current fiscal quarter, according to Zacks Investment Research. Zero analysts have issued estimates for Intrepid Potash’s earnings. Intrepid Potash posted earnings per share of ($0.03) in the same quarter last year, which would indicate a positive year over year growth rate of 233.3%. The company is scheduled to report its next earnings results on Tuesday, February 26th.

On average, analysts expect that Intrepid Potash will report full-year earnings of $0.09 per share for the current year, with EPS estimates ranging from $0.05 to $0.15. For the next financial year, analysts forecast that the firm will report earnings of $0.18 per share, with EPS estimates ranging from $0.13 to $0.24. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for Intrepid Potash.

Intrepid Potash (NYSE:IPI) last issued its quarterly earnings data on Tuesday, October 30th. The basic materials company reported $0.03 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.03. The company had revenue of $36.53 million during the quarter, compared to analysts’ expectations of $35.85 million. Intrepid Potash had a return on equity of 0.03% and a net margin of 1.59%. The business’s revenue was up 7.3% on a year-over-year basis. During the same period last year, the business earned ($0.02) earnings per share.

A number of brokerages have recently weighed in on IPI. TheStreet upgraded Intrepid Potash from a “d+” rating to a “c-” rating in a research note on Monday, November 12th. BMO Capital Markets raised their target price on Intrepid Potash from $3.25 to $4.00 and gave the company a “market perform” rating in a research note on Wednesday, October 31st. Stephens set a $7.00 target price on Intrepid Potash and gave the company a “buy” rating in a research note on Tuesday, October 30th. Zacks Investment Research upgraded Intrepid Potash from a “sell” rating to a “hold” rating in a research note on Thursday, October 25th. Finally, ValuEngine lowered Intrepid Potash from a “hold” rating to a “sell” rating in a research note on Thursday, September 6th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $4.81.

Shares of NYSE IPI traded down $0.14 during midday trading on Friday, reaching $3.81. 793,071 shares of the company traded hands, compared to its average volume of 902,058. The stock has a market cap of $511.32 million, a PE ratio of -21.17 and a beta of 0.74. Intrepid Potash has a 12 month low of $3.12 and a 12 month high of $5.31. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.47 and a current ratio of 3.23.

In other news, major shareholder Clearway Capital Management Lt acquired 616,467 shares of the stock in a transaction that occurred on Friday, October 19th. The stock was purchased at an average cost of $3.59 per share, for a total transaction of $2,213,116.53. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Robert P. Jornayvaz III acquired 10,800 shares of the stock in a transaction that occurred on Wednesday, September 5th. The stock was purchased at an average price of $3.30 per share, with a total value of $35,640.00. Following the completion of the transaction, the chief executive officer now owns 1,206,650 shares of the company’s stock, valued at $3,981,945. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 933,734 shares of company stock valued at $3,336,714. 27.30% of the stock is currently owned by corporate insiders.

Hedge funds have recently made changes to their positions in the stock. PEAK6 Investments LLC acquired a new stake in Intrepid Potash in the third quarter worth about $107,000. Macquarie Group Ltd. acquired a new position in shares of Intrepid Potash during the 2nd quarter worth about $108,000. BlueMountain Capital Management LLC acquired a new position in shares of Intrepid Potash during the 2nd quarter worth about $125,000. Metropolitan Life Insurance Co. NY grew its position in shares of Intrepid Potash by 152.2% during the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 33,008 shares of the basic materials company’s stock worth $135,000 after buying an additional 19,919 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Intrepid Potash during the 3rd quarter worth about $154,000. Hedge funds and other institutional investors own 44.78% of the company’s stock.

About Intrepid Potash

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.

Further Reading: Quiet Period

Get a free copy of the Zacks research report on Intrepid Potash (IPI)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Intrepid Potash Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Intrepid Potash and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply