Zacks: Brokerages Expect Intrepid Potash, Inc. (IPI) Will Post Earnings of $0.02 Per Share

Wall Street analysts predict that Intrepid Potash, Inc. (NYSE:IPI) will announce earnings per share of $0.02 for the current quarter, Zacks reports. Zero analysts have provided estimates for Intrepid Potash’s earnings, with the highest EPS estimate coming in at $0.02 and the lowest estimate coming in at $0.01. Intrepid Potash posted earnings of ($0.15) per share during the same quarter last year, which would indicate a positive year over year growth rate of 113.3%. The company is expected to announce its next earnings results before the market opens on Tuesday, May 1st.

On average, analysts expect that Intrepid Potash will report full year earnings of $0.03 per share for the current fiscal year, with EPS estimates ranging from ($0.14) to $0.13. For the next financial year, analysts forecast that the firm will report earnings of $0.18 per share, with EPS estimates ranging from $0.12 to $0.27. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research analysts that cover Intrepid Potash.

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Intrepid Potash (NYSE:IPI) last posted its quarterly earnings data on Tuesday, February 27th. The basic materials company reported ($0.03) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.01) by ($0.02). Intrepid Potash had a negative net margin of 14.54% and a negative return on equity of 5.31%. The firm had revenue of $33.30 million for the quarter, compared to the consensus estimate of $30.68 million. During the same period in the previous year, the firm posted ($0.19) earnings per share. The business’s revenue was down 21.1% compared to the same quarter last year.

A number of analysts have recently commented on IPI shares. Zacks Investment Research cut Intrepid Potash from a “buy” rating to a “hold” rating in a research report on Tuesday, February 6th. ValuEngine cut Intrepid Potash from a “sell” rating to a “strong sell” rating in a research report on Thursday, March 1st. Finally, Cowen raised Intrepid Potash from an “underperform” rating to a “market perform” rating and boosted their price target for the stock from $3.56 to $3.75 in a research report on Monday, March 5th. Two analysts have rated the stock with a sell rating, four have given a hold rating and one has given a strong buy rating to the stock. Intrepid Potash currently has an average rating of “Hold” and an average price target of $3.60.

Shares of IPI opened at $4.01 on Tuesday. The company has a current ratio of 2.99, a quick ratio of 0.77 and a debt-to-equity ratio of 0.12. Intrepid Potash has a 52 week low of $1.58 and a 52 week high of $5.12. The company has a market capitalization of $499.86, a PE ratio of -22.28 and a beta of 0.87.

In other news, CEO Robert P. Jornayvaz III acquired 15,900 shares of the firm’s stock in a transaction that occurred on Thursday, March 1st. The stock was bought at an average cost of $3.30 per share, for a total transaction of $52,470.00. Following the acquisition, the chief executive officer now directly owns 1,206,650 shares in the company, valued at $3,981,945. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Clearway Capital Management Lt acquired 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The stock was purchased at an average price of $3.48 per share, with a total value of $348,000.00. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 327,244 shares of company stock valued at $1,097,905. 27.30% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Creative Planning purchased a new position in Intrepid Potash in the 4th quarter worth approximately $101,000. MetLife Investment Advisors LLC purchased a new stake in Intrepid Potash during the 4th quarter valued at $106,000. Jane Street Group LLC purchased a new stake in Intrepid Potash during the 4th quarter valued at $118,000. LPL Financial LLC purchased a new stake in Intrepid Potash during the 4th quarter valued at $132,000. Finally, Jefferies Group LLC purchased a new stake in Intrepid Potash during the 4th quarter valued at $149,000. Institutional investors own 46.87% 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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