Intrepid Potash (IPI) Expected to Announce Earnings of $0.02 Per Share

Equities analysts expect that Intrepid Potash (NYSE:IPI) will report earnings of $0.02 per share for the current fiscal quarter, according to Zacks Investment Research. Zero analysts have made estimates for Intrepid Potash’s earnings, with estimates ranging from $0.01 to $0.02. Intrepid Potash reported earnings per share of ($0.15) during the same quarter last year, which indicates a positive year-over-year growth rate of 113.3%. The business is scheduled to announce its next earnings results before the market opens on Tuesday, April 24th.

According to Zacks, analysts expect that Intrepid Potash will report full year earnings of $0.13 per share for the current year, with EPS estimates ranging from $0.11 to $0.16. For the next fiscal year, analysts forecast that the company will report earnings of $0.18 per share, with EPS estimates ranging from $0.12 to $0.27. Zacks’ EPS averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Intrepid Potash.

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

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

Shares of IPI stock traded up $0.13 during trading hours on Tuesday, reaching $4.11. The company’s stock had a trading volume of 403,933 shares, compared to its average volume of 963,978. The company has a market cap of $525.97, a PE ratio of -22.83 and a beta of 0.87. Intrepid Potash has a fifty-two week low of $1.58 and a fifty-two week high of $5.12. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.77 and a current ratio of 2.99.

In other news, CEO Robert P. Jornayvaz III acquired 15,900 shares of the business’s stock in a transaction that occurred on Thursday, March 1st. The shares were bought at an average price of $3.30 per share, with a total value of $52,470.00. Following the acquisition, the chief executive officer now directly owns 1,206,650 shares in the company, valued at approximately $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 211,344 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The shares were purchased at an average cost of $3.30 per share, for a total transaction of $697,435.20. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 327,244 shares of company stock worth $1,097,905. 27.30% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. Creative Planning acquired a new position in Intrepid Potash during the 4th quarter worth about $101,000. MetLife Investment Advisors LLC acquired a new position in Intrepid Potash during the 4th quarter worth about $106,000. Jane Street Group LLC acquired a new position in Intrepid Potash during the 4th quarter worth about $118,000. LPL Financial LLC acquired a new position in Intrepid Potash during the 4th quarter worth about $132,000. Finally, Jefferies Group LLC acquired a new position in Intrepid Potash during the 4th quarter worth about $149,000. 46.89% of the stock is currently owned by hedge funds and other institutional investors.

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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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