Intrepid Potash (NYSE:IPI) Announces Quarterly Earnings Results

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

Intrepid Potash Stock Performance

Shares of IPI 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. Intrepid Potash has a 12-month low of $17.52 and a 12-month high of $29.75. The stock’s fifty day simple moving average is $24.29 and its two-hundred day simple moving average is $23.98.

Analyst Upgrades and Downgrades

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