Intrepid Potash (NYSE:IPI) Issues Earnings Results, Misses Expectations By $0.06 EPS

Intrepid Potash (NYSE:IPI) announced its quarterly earnings results on Monday. The basic materials company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.06), Zacks reports. The business had revenue of $55.80 million during the quarter, compared to analysts’ expectations of $50.35 million. Intrepid Potash had a negative net margin of 16.86% and a negative return on equity of 1.32%. During the same period last year, the company earned ($0.41) EPS.

Intrepid Potash Trading Down 1.9 %

Shares of IPI stock opened at $24.14 on Wednesday. The company’s fifty day simple moving average is $25.11 and its 200-day simple moving average is $24.95. Intrepid Potash has a 52 week low of $18.32 and a 52 week high of $29.75. The company has a market cap of $319.31 million, a PE ratio of -7.21 and a beta of 2.23.

Insider Buying and Selling

In other Intrepid Potash news, major shareholder Robert P. Jornayvaz III sold 192,573 shares of the company’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $25.08, for a total value of $4,829,730.84. Following the completion of the transaction, the insider now owns 178,860 shares in the company, valued at $4,485,808.80. This represents a 51.85 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In the last three months, insiders sold 341,412 shares of company stock valued at $8,725,988. Company insiders own 18.00% of the company’s stock.

Wall Street Analyst Weigh In

IPI has been the subject of a number of analyst reports. StockNews.com raised shares of Intrepid Potash from a “sell” rating to a “hold” rating in a research report on Wednesday, November 6th. UBS Group dropped their price objective on shares of Intrepid Potash from $21.00 to $20.00 and set a “sell” rating for the company in a research note on Tuesday.

About Intrepid Potash

Intrepid Potash, Inc, together with its subsidiaries, engages in the extraction and production of the potash in the United States and internationally. It operates through three segments: Potash, Trio, and Oilfield Solutions. The company offers muriate of potash for various markets, such as agricultural market as a fertilizer input; the industrial market as a component in drilling and fracturing fluids for oil and gas wells, as well as an input to other industrial processes; and the animal feed market as a nutrient supplement.