ICL Group (NYSE:ICL) Releases Quarterly Earnings Results, Beats Estimates By $0.02 EPS

ICL Group (NYSE:ICL) issued its quarterly earnings results on Monday. The basic materials company reported $0.09 EPS for the quarter, topping the consensus estimate of $0.07 by $0.02, Zacks reports. ICL Group had a net margin of 5.83% and a return on equity of 8.31%.

ICL Group Stock Down 0.7%

Shares of NYSE:ICL opened at $6.74 on Monday. ICL Group has a 52 week low of $3.79 and a 52 week high of $6.95. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.91 and a current ratio of 1.56. The company has a market capitalization of $8.85 billion, a PE ratio of 21.73, a PEG ratio of 7.10 and a beta of 1.15. The company has a 50 day moving average price of $6.27 and a two-hundred day moving average price of $5.64.

ICL Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Wednesday, March 12th were paid a $0.0403 dividend. The ex-dividend date of this dividend was Wednesday, March 12th. This is an increase from ICL Group’s previous quarterly dividend of $0.01. This represents a $0.16 dividend on an annualized basis and a dividend yield of 2.39%. ICL Group’s payout ratio is currently 50.00%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on ICL shares. StockNews.com cut shares of ICL Group from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 27th. Barclays raised their price objective on shares of ICL Group from $6.00 to $7.00 and gave the stock an “equal weight” rating in a research note on Wednesday, March 5th. Finally, BMO Capital Markets increased their target price on shares of ICL Group from $6.00 to $6.50 and gave the stock a “market perform” rating in a research report on Thursday, February 27th.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. lifted its stake in shares of ICL Group by 120.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,153,799 shares of the basic materials company’s stock worth $23,635,000 after buying an additional 2,267,245 shares during the last quarter. United Services Automobile Association increased its holdings in ICL Group by 20.4% in the 1st quarter. United Services Automobile Association now owns 26,218 shares of the basic materials company’s stock valued at $153,000 after buying an additional 4,438 shares during the period. Finally, AQR Capital Management LLC bought a new stake in shares of ICL Group during the 1st quarter valued at approximately $107,000. Institutional investors own 13.38% of the company’s stock.

ICL Group Company Profile

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.