ICL Group (NYSE:ICL) Releases Quarterly Earnings Results

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

ICL Group Price Performance

Shares of ICL Group stock traded down $0.12 during trading on Friday, hitting $6.04. 197,377 shares of the stock traded hands, compared to its average volume of 954,227. The firm’s fifty day moving average is $5.65 and its 200-day moving average is $4.79. The company has a quick ratio of 0.91, a current ratio of 1.56 and a debt-to-equity ratio of 0.30. ICL Group has a 52 week low of $3.79 and a 52 week high of $6.57. The stock has a market cap of $7.93 billion, a price-to-earnings ratio of 19.44, a PEG ratio of 7.10 and a beta of 1.23.

ICL Group Increases Dividend

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

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Barclays upgraded ICL Group from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $4.00 to $6.00 in a research report on Tuesday, January 21st. BMO Capital Markets increased their price objective on ICL Group from $6.00 to $6.50 and gave the company a “market perform” rating in a research report on Thursday. Finally, StockNews.com lowered ICL Group from a “strong-buy” rating to a “buy” rating in a research report 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.