Compass Minerals International (NYSE:CMP) Issues Quarterly Earnings Results

Compass Minerals International (NYSE:CMP) announced its quarterly earnings data on Wednesday. The basic materials company reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.32, FiscalAI reports. Compass Minerals International had a negative return on equity of 8.22% and a negative net margin of 6.42%.The firm had revenue of $396.10 million during the quarter, compared to analysts’ expectations of $329.23 million. During the same quarter last year, the firm posted ($0.55) earnings per share. The company’s revenue for the quarter was up 28.9% compared to the same quarter last year.

Compass Minerals International Price Performance

CMP stock traded down $3.30 during trading hours on Thursday, hitting $22.22. 459,256 shares of the stock traded hands, compared to its average volume of 452,659. Compass Minerals International has a one year low of $8.60 and a one year high of $27.00. The company has a current ratio of 2.15, a quick ratio of 0.98 and a debt-to-equity ratio of 3.55. The stock has a 50-day simple moving average of $21.45 and a 200 day simple moving average of $19.74. The company has a market cap of $929.68 million, a P/E ratio of -11.53 and a beta of 1.17.

Institutional Investors Weigh In On Compass Minerals International

Several hedge funds have recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Compass Minerals International by 4.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,665 shares of the basic materials company’s stock valued at $192,000 after buying an additional 858 shares during the period. BNP Paribas Financial Markets boosted its holdings in shares of Compass Minerals International by 8.4% during the 2nd quarter. BNP Paribas Financial Markets now owns 20,070 shares of the basic materials company’s stock worth $403,000 after buying an additional 1,555 shares in the last quarter. Headlands Technologies LLC acquired a new stake in shares of Compass Minerals International during the 2nd quarter worth approximately $83,000. Royal Bank of Canada lifted its position in shares of Compass Minerals International by 10.5% during the 1st quarter. Royal Bank of Canada now owns 49,928 shares of the basic materials company’s stock valued at $464,000 after acquiring an additional 4,740 shares during the period. Finally, Raymond James Financial Inc. grew its holdings in Compass Minerals International by 4.3% in the second quarter. Raymond James Financial Inc. now owns 127,751 shares of the basic materials company’s stock worth $2,567,000 after purchasing an additional 5,241 shares during the period. 99.78% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CMP has been the subject of several research reports. Deutsche Bank Aktiengesellschaft reduced their price objective on Compass Minerals International from $22.00 to $21.00 and set a “buy” rating for the company in a report on Thursday, December 11th. BMO Capital Markets raised their price target on shares of Compass Minerals International from $20.00 to $25.00 and gave the company a “market perform” rating in a report on Monday, January 5th. Loop Capital set a $24.00 price objective on Compass Minerals International in a research note on Tuesday, December 30th. Wall Street Zen upgraded shares of Compass Minerals International from a “hold” rating to a “buy” rating in a research note on Saturday, December 13th. Finally, Zacks Research raised shares of Compass Minerals International from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 11th. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Reduce” and an average price target of $22.00.

About Compass Minerals International

Compass Minerals International, Inc is a global producer of essential mineral-based products, primarily known for its salt and plant nutrition portfolios. The company’s deicing salts are used by municipalities and commercial customers across North America to maintain safer roadways in winter months. In addition, its water conditioning salts serve both residential and industrial users, supporting water treatment systems that remove hard minerals to protect plumbing and equipment.

Beyond conventional salt products, Compass Minerals has developed a specialty plant nutrition business focused on sulfate of potash (SOP), a premium fertilizer that provides both potassium and sulfur to crops.