ICL Group (NYSE:ICL) Posts Earnings Results, Hits Estimates

ICL Group (NYSE:ICL) released its earnings results on Wednesday. The basic materials company reported $0.08 EPS for the quarter, meeting analysts’ consensus estimates of $0.08, Zacks reports. The company had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.65 billion. ICL Group had a return on equity of 8.31% and a net margin of 5.83%.

ICL Group Stock Down 1.9 %

NYSE:ICL traded down $0.12 during trading hours on Friday, reaching $6.04. 197,377 shares of the company traded hands, compared to its average volume of 954,227. The business’s 50-day moving average price is $5.65 and its two-hundred day moving average price is $4.79. The stock has a market capitalization of $7.93 billion, a P/E ratio of 19.44, a P/E/G ratio of 7.10 and a beta of 1.23. ICL Group has a 1 year low of $3.79 and a 1 year high of $6.57. The company has a current ratio of 1.56, a quick ratio of 0.91 and a debt-to-equity ratio of 0.30.

ICL Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Wednesday, March 12th will be paid a dividend of $0.0403 per share. This is a boost from ICL Group’s previous quarterly dividend of $0.01. The ex-dividend date is Wednesday, March 12th. This represents a $0.16 dividend on an annualized basis and a yield of 2.67%. ICL Group’s payout ratio is presently 40.63%.

Wall Street Analysts Forecast Growth

ICL has been the subject of a number of research analyst reports. BMO Capital Markets raised their target price on ICL Group from $6.00 to $6.50 and gave the company a “market perform” rating in a research note on Thursday. Barclays upgraded ICL Group from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $4.00 to $6.00 in a research note on Tuesday, January 21st. Finally, StockNews.com cut ICL Group from a “strong-buy” rating to a “buy” rating in a research note on Thursday.

About ICL Group

ICL Group Ltd, together with its subsidiaries, operates as a specialty minerals and chemicals company worldwide. It operates in four segments: Industrial Products, Potash, Phosphate Solutions, and Growing Solutions. The Industrial Products segment produces bromine out of a solution that is a by-product of the potash production process, as well as bromine-based compounds; produces various grades of potash, salt, magnesium chloride, and magnesia products; and produces and markets phosphorous-based flame retardants and other phosphorus-based products.