Intrepid Potash (NYSE:IPI) Releases Quarterly Earnings Results, Beats Estimates By $0.51 EPS

Intrepid Potash (NYSE:IPI - Get Free Report) issued its quarterly earnings results on Monday. The basic materials company reported $0.39 earnings per share for the quarter, topping the consensus estimate of ($0.12) by $0.51, Zacks reports. The company had revenue of $97.76 million for the quarter, compared to analysts' expectations of $72.34 million. Intrepid Potash had a negative return on equity of 1.32% and a negative net margin of 16.86%.

Intrepid Potash Stock Up 0.0 %

Shares of NYSE IPI traded up $0.01 during trading on Friday, reaching $37.95. The company had a trading volume of 304,577 shares, compared to its average volume of 116,946. Intrepid Potash has a 12-month low of $20.75 and a 12-month high of $38.87. The business's 50-day moving average is $29.63 and its 200 day moving average is $26.97. The stock has a market cap of $505.38 million, a PE ratio of -11.33 and a beta of 1.80.

Insider Transactions at Intrepid Potash

In related news, major shareholder Robert P. Jornayvaz III sold 59,701 shares of the company's stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $37.66, for a total value of $2,248,339.66. Following the transaction, the insider now directly owns 1,044,162 shares of the company's stock, valued at approximately $39,323,140.92. This represents a 5.41 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders sold a total of 229,872 shares of company stock valued at $6,866,175 in the last quarter. 18.00% of the stock is owned by insiders.

Analyst Ratings Changes

IPI has been the topic of a number of research reports. StockNews.com upgraded shares of Intrepid Potash from a "sell" rating to a "hold" rating in a report on Tuesday. UBS Group cut their price objective on shares of Intrepid Potash from $20.00 to $19.00 and set a "sell" rating on the stock in a report on Wednesday, April 16th.

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.