Intrepid Potash (NYSE:IPI) Releases Quarterly Earnings Results, Misses Expectations By $0.25 EPS

Intrepid Potash (NYSE:IPI) released its earnings results on Monday. The basic materials company reported ($0.14) EPS for the quarter, missing the consensus estimate of $0.11 by ($0.25), Zacks reports. Intrepid Potash had a negative net margin of 16.86% and a negative return on equity of 1.32%. The company had revenue of $57.55 million for the quarter, compared to analyst estimates of $42.57 million. During the same quarter in the previous year, the company earned ($0.53) earnings per share.

Intrepid Potash Price Performance

Shares of Intrepid Potash stock traded down $1.90 during mid-day trading on Wednesday, hitting $26.89. 296,728 shares of the stock were exchanged, compared to its average volume of 48,319. The company has a 50-day simple moving average of $24.29 and a 200 day simple moving average of $23.98. Intrepid Potash has a 12 month low of $17.52 and a 12 month high of $29.75.

Analysts Set New Price Targets

Separately, UBS Group increased their price target on shares of Intrepid Potash from $18.00 to $19.00 and gave the company a “sell” rating in a research 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.