Intrepid Potash (IPI) Posts Quarterly Earnings Results, Beats Estimates By $0.03 EPS

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Intrepid Potash (NYSE:IPI) posted its earnings results on Tuesday. The basic materials company reported $0.06 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.03 by $0.03, MarketWatch Earnings reports. The business had revenue of $34.90 million for the quarter, compared to analysts’ expectations of $36.19 million. Intrepid Potash had a net margin of 6.04% and a return on equity of 3.00%. The firm’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.03) earnings per share.

NYSE IPI opened at $3.94 on Thursday. The stock has a market capitalization of $506.07 million, a P/E ratio of 43.78 and a beta of 1.16. Intrepid Potash has a twelve month low of $2.51 and a twelve month high of $5.31. The company has a current ratio of 4.18, a quick ratio of 1.47 and a debt-to-equity ratio of 0.12.

Separately, Zacks Investment Research raised shares of Intrepid Potash from a “hold” rating to a “buy” rating and set a $3.50 target price on the stock in a research note on Tuesday, January 22nd. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and one has given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $4.83.

In other Intrepid Potash news, major shareholder Clearway Capital Management Lt bought 200,000 shares of the stock in a transaction that occurred on Tuesday, February 12th. The shares were acquired at an average price of $3.22 per share, with a total value of $644,000.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 27.70% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the business. Legal & General Group Plc boosted its position in Intrepid Potash by 24.1% in the fourth quarter. Legal & General Group Plc now owns 18,218 shares of the basic materials company’s stock valued at $47,000 after buying an additional 3,533 shares in the last quarter. ETF Managers Group LLC boosted its position in Intrepid Potash by 15.8% in the fourth quarter. ETF Managers Group LLC now owns 35,827 shares of the basic materials company’s stock valued at $93,000 after buying an additional 4,884 shares in the last quarter. Squarepoint Ops LLC acquired a new position in Intrepid Potash in the fourth quarter valued at about $27,000. SG Americas Securities LLC acquired a new position in Intrepid Potash in the fourth quarter valued at about $34,000. Finally, Macquarie Group Ltd. acquired a new position in Intrepid Potash in the fourth quarter valued at about $35,000. Hedge funds and other institutional investors own 44.36% of the company’s stock.

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Intrepid Potash Company Profile

Intrepid Potash, Inc produces and sells potash and langbeinite products in the United States and internationally. It operates through two segments, Potash and Trio. The Potash segment offers muriate of potash or potassium chloride for use as a fertilizer input in the agricultural market; as a component in drilling and fracturing fluids for oil and gas wells, as well as an input to other industrial processes in the industrial market; and as a nutrient supplement in the animal feed market.

See Also: What does EPS mean?

Earnings History for Intrepid Potash (NYSE:IPI)

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