Analysts Expect Intrepid Potash, Inc. (IPI) Will Post Earnings of $0.04 Per Share

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Equities analysts forecast that Intrepid Potash, Inc. (NYSE:IPI) will post earnings per share (EPS) of $0.04 for the current fiscal quarter, Zacks Investment Research reports. Zero analysts have provided estimates for Intrepid Potash’s earnings. Intrepid Potash reported earnings per share of ($0.03) in the same quarter last year, which suggests a positive year-over-year growth rate of 233.3%. The company is expected to issue its next earnings results on Tuesday, February 26th.

On average, analysts expect that Intrepid Potash will report full-year earnings of $0.10 per share for the current financial year, with EPS estimates ranging from $0.07 to $0.15. For the next year, analysts anticipate that the firm will post earnings of $0.18 per share, with EPS estimates ranging from $0.13 to $0.24. Zacks’ earnings per share calculations are a mean average based on a survey of research firms that that provide coverage for Intrepid Potash.

Intrepid Potash (NYSE:IPI) last posted its quarterly earnings data on Tuesday, October 30th. The basic materials company reported $0.03 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.03. The firm had revenue of $36.53 million for the quarter, compared to the consensus estimate of $35.85 million. Intrepid Potash had a net margin of 1.59% and a return on equity of 0.03%. The company’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.02) earnings per share.

A number of brokerages recently commented on IPI. Zacks Investment Research upgraded Intrepid Potash from a “hold” rating to a “buy” rating and set a $4.50 target price on the stock in a research report on Wednesday, July 25th. BMO Capital Markets upped their target price on Intrepid Potash from $3.25 to $4.00 and gave the company a “market perform” rating in a research report on Wednesday, October 31st. Stephens set a $7.00 target price on Intrepid Potash and gave the company a “buy” rating in a research report on Tuesday, October 30th. Finally, ValuEngine lowered Intrepid Potash from a “hold” rating to a “sell” rating in a research report 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. The company currently has a consensus rating of “Hold” and an average price target of $4.81.

In related news, insider Robert P. Jornayvaz III acquired 10,000 shares of the stock in a transaction on Wednesday, August 15th. The shares were acquired at an average price of $3.24 per share, for a total transaction of $32,400.00. Following the transaction, the insider now owns 1,206,650 shares in the company, valued at approximately $3,909,546. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Clearway Capital Management Lt acquired 616,467 shares of the stock in a transaction on Friday, October 19th. The stock was bought at an average price of $3.59 per share, for a total transaction of $2,213,116.53. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 950,634 shares of company stock worth $3,392,298. 27.30% of the stock is owned by insiders.

A number of institutional investors have recently added to or reduced their stakes in the business. Prescott Group Capital Management L.L.C. purchased a new stake in Intrepid Potash in the 3rd quarter worth approximately $2,331,000. BlackRock Inc. boosted its position in Intrepid Potash by 8.1% in the 3rd quarter. BlackRock Inc. now owns 7,429,721 shares of the basic materials company’s stock worth $26,673,000 after purchasing an additional 557,507 shares in the last quarter. Cedar Wealth Management LLC boosted its position in Intrepid Potash by 72.4% in the 3rd quarter. Cedar Wealth Management LLC now owns 80,890 shares of the basic materials company’s stock worth $290,000 after purchasing an additional 33,961 shares in the last quarter. Perella Weinberg Partners Capital Management LP purchased a new stake in Intrepid Potash in the 3rd quarter worth approximately $406,000. Finally, Malaga Cove Capital LLC purchased a new stake in Intrepid Potash in the 3rd quarter worth approximately $385,000. Institutional investors and hedge funds own 44.86% of the company’s stock.

NYSE IPI traded down $0.06 during trading hours on Friday, reaching $4.28. The stock had a trading volume of 844,904 shares, compared to its average volume of 812,778. The firm has a market cap of $554.58 million, a P/E ratio of -23.78 and a beta of 0.74. Intrepid Potash has a 52-week low of $3.12 and a 52-week high of $5.31. The company has a quick ratio of 1.47, a current ratio of 3.23 and a debt-to-equity ratio of 0.12.

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.

See Also: Earnings Per Share

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