Brokerages Anticipate Intrepid Potash, Inc. (IPI) Will Post Earnings of -$0.01 Per Share

Wall Street brokerages expect that Intrepid Potash, Inc. (NYSE:IPI) will post ($0.01) earnings per share for the current fiscal quarter, according to Zacks. Zero analysts have provided estimates for Intrepid Potash’s earnings. The highest EPS estimate is $0.00 and the lowest is ($0.01). Intrepid Potash posted earnings of ($0.19) per share during the same quarter last year, which indicates a positive year over year growth rate of 94.7%. The business is scheduled to report its next quarterly earnings report on Tuesday, February 27th.

According to Zacks, analysts expect that Intrepid Potash will report full-year earnings of ($0.16) per share for the current fiscal year, with EPS estimates ranging from ($0.16) to ($0.15). For the next financial year, analysts expect that the firm will post earnings of $0.08 per share, with EPS estimates ranging from $0.07 to $0.09. Zacks’ earnings per share calculations are a mean average based on a survey of analysts that that provide coverage for Intrepid Potash.

Intrepid Potash (NYSE:IPI) last released its earnings results on Monday, October 30th. The basic materials company reported ($0.02) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.02. The company had revenue of $32.06 million during the quarter, compared to the consensus estimate of $33.15 million. Intrepid Potash had a negative return on equity of 8.09% and a negative net margin of 22.88%. The firm’s quarterly revenue was down 26.5% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.22) earnings per share.

A number of equities research analysts recently commented on IPI shares. BMO Capital Markets lifted their price objective on Intrepid Potash from $3.00 to $4.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 31st. Cowen reaffirmed a “sell” rating and set a $3.50 price objective on shares of Intrepid Potash in a research note on Friday, December 1st. Finally, Stephens started coverage on Intrepid Potash in a research note on Monday, December 4th. They set an “equal weight” rating and a $4.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $3.55.

Intrepid Potash (NYSE IPI) traded up $0.05 during mid-day trading on Friday, hitting $4.76. The stock had a trading volume of 2,961,138 shares, compared to its average volume of 1,580,716. The company has a current ratio of 4.71, a quick ratio of 1.17 and a debt-to-equity ratio of 0.15. Intrepid Potash has a 12 month low of $1.24 and a 12 month high of $5.12. The company has a market capitalization of $656.47, a P/E ratio of -10.58 and a beta of 1.13.

In other news, insider Robert P. Jornayvaz III purchased 10,000 shares of the business’s stock in a transaction dated Tuesday, December 19th. The shares were bought at an average cost of $3.85 per share, for a total transaction of $38,500.00. Following the completion of the acquisition, the insider now directly owns 1,206,650 shares in the company, valued at approximately $4,645,602.50. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP James N. Whyte sold 86,796 shares of the business’s stock in a transaction dated Thursday, November 9th. The shares were sold at an average price of $3.84, for a total value of $333,296.64. Following the completion of the sale, the executive vice president now owns 360,903 shares in the company, valued at $1,385,867.52. The disclosure for this sale can be found here. Over the last three months, insiders acquired 25,100 shares of company stock valued at $93,003. Insiders own 27.30% of the company’s stock.

Several institutional investors have recently modified their holdings of IPI. Dimensional Fund Advisors LP raised its holdings in Intrepid Potash by 82.2% during the third quarter. Dimensional Fund Advisors LP now owns 3,181,060 shares of the basic materials company’s stock worth $13,870,000 after acquiring an additional 1,435,178 shares in the last quarter. State Street Corp raised its holdings 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 acquiring an additional 1,109,782 shares in the last quarter. Vanguard Group Inc. raised its stake in Intrepid Potash by 30.5% in the second quarter. Vanguard Group Inc. now owns 4,255,979 shares of the basic materials company’s stock valued at $9,619,000 after buying an additional 994,554 shares during the period. Northern Trust Corp raised its stake in Intrepid Potash by 540.0% in the second quarter. Northern Trust Corp now owns 1,091,221 shares of the basic materials company’s stock valued at $2,466,000 after buying an additional 920,720 shares during the period. Finally, Old West Investment Management LLC bought a new stake in Intrepid Potash in the second quarter valued at approximately $1,930,000. Institutional investors own 47.88% of the company’s stock.

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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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