Brokerages Anticipate Intrepid Potash, Inc (IPI) to Post -$0.04 Earnings Per Share
Equities research analysts expect that Intrepid Potash, Inc (NYSE:IPI) will announce earnings of ($0.04) per share for the current fiscal quarter, Zacks reports. Zero analysts have provided estimates for Intrepid Potash’s earnings. Intrepid Potash posted earnings of ($0.23) per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 82.6%. The firm is scheduled to report its next earnings report on Wednesday, November 1st.
On average, analysts expect that Intrepid Potash will report full-year earnings of ($0.22) per share for the current year, with EPS estimates ranging from ($0.23) to ($0.20). For the next year, analysts anticipate that the firm will post earnings of $0.04 per share, with EPS estimates ranging from $0.02 to $0.05. Zacks Investment Research’s EPS averages are an average based on a survey of research firms that follow Intrepid Potash.
Intrepid Potash (NYSE:IPI) last released its quarterly earnings data on Wednesday, August 2nd. The basic materials company reported ($0.03) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.06) by $0.03. The business had revenue of $43.90 million for the quarter, compared to the consensus estimate of $37.75 million. Intrepid Potash had a negative return on equity of 12.37% and a negative net margin of 30.56%. The company’s revenue was down 15.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.17) EPS.
IPI has been the topic of several research analyst reports. Zacks Investment Research upgraded Intrepid Potash from a “sell” rating to a “buy” rating and set a $3.75 price objective on the stock in a report on Wednesday, August 9th. BidaskClub raised Intrepid Potash from a “hold” rating to a “buy” rating in a report on Wednesday, July 12th. BMO Capital Markets reissued a “hold” rating and set a $2.00 target price on shares of Intrepid Potash in a report on Friday, July 7th. Finally, UBS AG downgraded Intrepid Potash from a “neutral” rating to a “sell” rating and raised their target price for the company from $2.00 to $2.50 in a research report on Monday, August 7th.
Intrepid Potash (NYSE:IPI) traded down 0.68% on Thursday, hitting $4.40. The stock had a trading volume of 1,046,162 shares. The company’s market cap is $539.54 million. Intrepid Potash has a 12 month low of $0.93 and a 12 month high of $4.48. The company has a 50-day moving average of $3.78 and a 200 day moving average of $2.68.
In related news, insider Robert P. Jornayvaz III bought 20,000 shares of the stock in a transaction dated Monday, August 7th. The shares were acquired at an average cost of $3.31 per share, for a total transaction of $66,200.00. Following the acquisition, the insider now directly owns 1,206,650 shares in the company, valued at approximately $3,994,011.50. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Clearway Capital Management Lt bought 17,100 shares of the stock in a transaction dated Friday, August 18th. The shares were bought at an average price of $3.20 per share, for a total transaction of $54,720.00. The disclosure for this purchase can be found here. Insiders have bought 2,122,031 shares of company stock valued at $6,603,387 in the last ninety days. Insiders own 27.30% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. California State Teachers Retirement System acquired a new stake in shares of Intrepid Potash in the second quarter valued at approximately $379,000. The Manufacturers Life Insurance Company lifted its position in Intrepid Potash by 3,775.1% during the second quarter. The Manufacturers Life Insurance Company now owns 84,205 shares of the basic materials company’s stock worth $190,000 after buying an additional 82,032 shares in the last quarter. State Street Corp lifted its position in Intrepid Potash by 3,191.0% during the second quarter. State Street Corp now owns 1,144,560 shares of the basic materials company’s stock worth $2,590,000 after buying an additional 1,109,782 shares in the last quarter. Brandywine Global Investment Management LLC lifted its position in Intrepid Potash by 176.2% during the second quarter. Brandywine Global Investment Management LLC now owns 69,823 shares of the basic materials company’s stock worth $158,000 after buying an additional 44,543 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Intrepid Potash by 27.0% during the second quarter. Dimensional Fund Advisors LP now owns 1,745,882 shares of the basic materials company’s stock worth $3,946,000 after buying an additional 371,180 shares in the last quarter. Institutional investors and hedge funds own 47.26% of the company’s stock.
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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