Intrepid Potash (NYSE:IPI) Issues Earnings Results

Intrepid Potash (NYSE:IPI) posted its quarterly earnings results on Monday. The basic materials company reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.25), Zacks reports. Intrepid Potash had a negative net margin of 19.19% and a negative return on equity of 2.02%. The business had revenue of $57.55 million during the quarter, compared to analysts’ expectations of $42.57 million. During the same quarter last year, the firm earned ($0.53) earnings per share.

Intrepid Potash Trading Up 7.5 %

IPI stock traded up $2.01 during mid-day trading on Tuesday, reaching $28.73. 190,059 shares of the stock traded hands, compared to its average volume of 89,060. The company has a market cap of $381.53 million, a P/E ratio of -7.61 and a beta of 2.18. The stock’s fifty day moving average is $24.20 and its 200-day moving average is $23.91. Intrepid Potash has a 52-week low of $17.52 and a 52-week high of $29.10.

Wall Street Analysts Forecast Growth

Separately, UBS Group upped their price objective on Intrepid Potash from $18.00 to $19.00 and gave the stock a “sell” rating in a report on Tuesday.

Intrepid Potash Company Profile

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.