Compass Minerals International (NYSE:CMP) Shares Gap Down After Earnings Miss

Compass Minerals International, Inc. (NYSE:CMP) gapped down before the market opened on Tuesday following a weaker than expected earnings announcement. The stock had previously closed at $12.12, but opened at $11.50. Compass Minerals International shares last traded at $11.83, with a volume of 39,776 shares trading hands.

The basic materials company reported ($0.55) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.50). Compass Minerals International had a negative return on equity of 2.15% and a negative net margin of 19.24%.

Analysts Set New Price Targets

Separately, BMO Capital Markets lowered their price objective on Compass Minerals International from $20.00 to $18.00 and set a “market perform” rating on the stock in a research note on Wednesday, December 18th.

Hedge Funds Weigh In On Compass Minerals International

Several hedge funds have recently made changes to their positions in CMP. KLP Kapitalforvaltning AS purchased a new position in Compass Minerals International during the 4th quarter valued at about $80,000. American Century Companies Inc. grew its stake in Compass Minerals International by 77.8% during the fourth quarter. American Century Companies Inc. now owns 154,773 shares of the basic materials company’s stock valued at $1,741,000 after acquiring an additional 67,725 shares in the last quarter. Koss Olinger Consulting LLC bought a new stake in Compass Minerals International during the 4th quarter worth approximately $263,000. Intech Investment Management LLC purchased a new stake in Compass Minerals International in the 4th quarter worth approximately $187,000. Finally, Counterpoint Mutual Funds LLC bought a new position in Compass Minerals International in the 4th quarter valued at $744,000. 99.78% of the stock is currently owned by hedge funds and other institutional investors.

Compass Minerals International Price Performance

The stock has a market capitalization of $473.59 million, a PE ratio of -2.19, a price-to-earnings-growth ratio of 1.17 and a beta of 1.21. The business’s 50-day moving average price is $12.32 and its 200 day moving average price is $11.99. The company has a debt-to-equity ratio of 2.87, a quick ratio of 0.80 and a current ratio of 2.71.

About Compass Minerals International

Compass Minerals International, Inc, provides essential minerals in the United States, Canada, the United Kingdom, and internationally. It operates through two segments, Salt and Plant Nutrition. The Salt segment produces, markets, and sells sodium chloride and magnesium chloride, including rock salt, mechanically and solar evaporated salt, and brine and flake magnesium chloride products; and purchases potassium chloride and calcium chloride to sell as finished products or to blend with sodium chloride to produce specialty products.