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

ICL Group (NYSE:ICL - Get Free Report) issued its quarterly earnings results on Wednesday. The basic materials company reported $0.08 earnings per share for the quarter, hitting the consensus estimate of $0.08, Zacks reports. The business had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.65 billion. ICL Group had a return on equity of 8.31% and a net margin of 5.83%.

ICL Group Stock Performance

Shares of ICL Group stock traded down $0.14 on Friday, reaching $6.02. 910,668 shares of the stock were exchanged, compared to its average volume of 974,266. The business has a 50 day moving average price of $5.67 and a two-hundred day moving average price of $4.81. The company has a quick ratio of 0.91, a current ratio of 1.56 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $7.90 billion, a price-to-earnings ratio of 19.40, a PEG ratio of 7.10 and a beta of 1.23. ICL Group has a twelve month low of $3.79 and a twelve month high of $6.57.

ICL Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Wednesday, March 12th will be issued a dividend of $0.0403 per share. This is an increase from ICL Group's previous quarterly dividend of $0.01. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 2.68%. ICL Group's payout ratio is 40.63%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on ICL shares. StockNews.com downgraded ICL Group from a "strong-buy" rating to a "buy" rating in a report on Thursday. BMO Capital Markets lifted their target price on ICL Group from $6.00 to $6.50 and gave the stock a "market perform" rating in a report on Thursday. Finally, Barclays raised ICL Group from an "underweight" rating to an "equal weight" rating and lifted their target price for the stock from $4.00 to $6.00 in a report on Tuesday, January 21st.

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.