Intrepid Potash, Inc (IPI) to Release Quarterly Earnings on Tuesday
Intrepid Potash, Inc (NYSE:IPI) is scheduled to issue its quarterly earnings data before the market opens on Tuesday, October 31st. Analysts expect the company to announce earnings of ($0.05) per share for the quarter.
Intrepid Potash (NYSE:IPI) last issued its earnings results on Wednesday, August 2nd. The basic materials company reported ($0.03) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.06) by $0.03. The business had revenue of $43.90 million during the quarter, compared to the consensus estimate of $37.75 million. Intrepid Potash had a negative return on equity of 12.37% and a negative net margin of 30.56%. The firm’s revenue for the quarter was down 15.3% on a year-over-year basis. During the same period in the previous year, the company posted ($0.17) earnings per share. On average, analysts expect Intrepid Potash to post $-0.22 EPS for the current fiscal year and $0.04 EPS for the next fiscal year.
Shares of Intrepid Potash, Inc (IPI) opened at 3.57 on Tuesday. The firm has a 50-day moving average price of $3.97 and a 200-day moving average price of $2.91. The company’s market capitalization is $437.76 million. Intrepid Potash, Inc has a one year low of $1.00 and a one year high of $4.63.
Several research analysts have recently issued reports on IPI shares. BidaskClub raised Intrepid Potash from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, August 2nd. Zacks Investment Research lowered Intrepid Potash from a “hold” rating to a “strong sell” rating in a research report on Wednesday, July 26th. BMO Capital Markets increased their target price on Intrepid Potash from $2.00 to $3.00 and gave the stock a “market perform” rating in a research report on Thursday, August 3rd. Finally, UBS AG lowered Intrepid Potash from a “neutral” rating to a “sell” rating and increased their target price for the stock from $2.00 to $2.50 in a research report on Monday, August 7th.
In related news, major shareholder Clearway Capital Management Lt acquired 592,883 shares of Intrepid Potash stock in a transaction that occurred on Thursday, July 27th. The stock was bought at an average price of $2.89 per share, with a total value of $1,713,431.87. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Robert P. Jornayvaz III acquired 20,000 shares of Intrepid Potash stock in a transaction that occurred on Monday, August 7th. The shares were bought at an average cost of $3.31 per share, with a total value of $66,200.00. Following the transaction, the insider now owns 1,206,650 shares in the company, valued at $3,994,011.50. The disclosure for this purchase can be found here. Insiders bought a total of 1,822,031 shares of company stock valued at $5,754,387 in the last three months. Corporate insiders own 27.30% of the company’s stock.
A hedge fund recently raised its stake in Intrepid Potash stock. The Manufacturers Life Insurance Company boosted its stake in shares of Intrepid Potash, Inc (NYSE:IPI) by 3,775.1% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 84,205 shares of the basic materials company’s stock after buying an additional 82,032 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.06% of Intrepid Potash worth $190,000 at the end of the most recent reporting period. 47.27% of the stock is owned by institutional investors and hedge funds.
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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