Intrepid Potash (IPI) Posts Quarterly Earnings, Misses Estimates By $0.02 EPS
Intrepid Potash (NYSE:IPI) posted its quarterly earnings results on Thursday. The company reported $0.07 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.09 by $0.02, StockRatingsNetwork reports. The company had revenue of $70.50 million for the quarter, compared to the consensus estimate of $89.97 million. During the same quarter in the previous year, the company posted $0.44 earnings per share. The company’s revenue for the quarter was down 45.5% on a year-over-year basis.
Shares of Intrepid Potash (NYSE:IPI) opened at 14.52 on Thursday. Intrepid Potash has a 52-week low of $10.60 and a 52-week high of $24.26. The stock has a 50-day moving average of $15.62 and a 200-day moving average of $16.5. The company has a market cap of $1.095 billion and a price-to-earnings ratio of 14.91.
A number of analysts have recently weighed in on IPI shares. Analysts at Morgan Stanley downgraded shares of Intrepid Potash from an “equal weight” rating to an “underweight” rating in a research note to investors on Friday, October 4th. On a related note, analysts at BMO Capital Markets downgraded shares of Intrepid Potash from a “market perform” rating to an “underperform” rating in a research note to investors on Thursday, September 26th. They now have a $11.00 price target on the stock. Finally, analysts at Zacks upgraded shares of Intrepid Potash from an “underperform” rating to a “neutral” rating in a research note to investors on Thursday, September 12th. They now have a $14.60 price target on the stock. Seven research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. Intrepid Potash currently has a consensus rating of “Hold” and an average price target of $15.16.
Intrepid Potash, Inc(NYSE:IPI) is a producer of muriate of potash (potassium chloride or potash) in the United States and are engaged the production and marketing of potash and langbeinite (sulfate of potash magnesia), another mineral containing potassium, magnesium, and sulfate, that is produced from langbeinite ore and as Trio when it refers to sales and marketing.