ICL Group (NYSE:ICL) Lowered to Hold at Zacks Investment Research

Zacks Investment Research lowered shares of ICL Group (NYSE:ICLGet Rating) from a buy rating to a hold rating in a research report released on Tuesday, Zacks.com reports.

According to Zacks, “Israel Chemicals Ltd. is a manufacturer of specialty fertilizers and specialty phosphates, flame retardants and water treatment solutions. It operates primarily in three markets: agriculture, food and engineered materials. The Company’s products include bromine specialty chemicals, potash, phosphate fertilizers, and specialty performance and industrial products. It markets its products primarily in Israel, Europe, and the Americas. Israel Chemicals Ltd. is headquartered in Tel Aviv, Israel. “

ICL has been the topic of a number of other research reports. Morgan Stanley lifted their price objective on ICL Group from $10.00 to $11.00 and gave the company an equal weight rating in a report on Thursday, March 17th. StockNews.com initiated coverage on ICL Group in a report on Thursday, March 31st. They set a strong-buy rating on the stock. Finally, Citigroup downgraded ICL Group from a buy rating to a neutral rating in a report on Monday, January 24th. Four research analysts have rated the stock with a hold rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, ICL Group presently has an average rating of Hold and an average target price of $9.33.

Shares of NYSE ICL opened at $12.01 on Tuesday. The stock has a fifty day moving average price of $11.05 and a 200 day moving average price of $9.80. ICL Group has a 1-year low of $6.16 and a 1-year high of $12.70. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.50 and a quick ratio of 0.90. The company has a market cap of $15.37 billion, a PE ratio of 20.02, a P/E/G ratio of 2.33 and a beta of 1.08.

ICL Group (NYSE:ICLGet Rating) last released its earnings results on Wednesday, February 9th. The basic materials company reported $0.26 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.17 by $0.09. ICL Group had a net margin of 11.26% and a return on equity of 18.52%. The company had revenue of $2.04 billion during the quarter, compared to analysts’ expectations of $1.78 billion. During the same quarter last year, the business earned $0.05 EPS. Analysts anticipate that ICL Group will post 1.3 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 8th. Investors of record on Wednesday, February 23rd were paid a $0.1318 dividend. This is an increase from ICL Group’s previous quarterly dividend of $0.08. This represents a $0.53 annualized dividend and a yield of 4.39%. The ex-dividend date of this dividend was Tuesday, February 22nd. ICL Group’s dividend payout ratio (DPR) is presently 66.67%.

Institutional investors and hedge funds have recently bought and sold shares of the business. Norges Bank purchased a new position in shares of ICL Group in the fourth quarter valued at $7,069,000. Stephens Inc. AR acquired a new stake in ICL Group in the 4th quarter valued at about $193,000. JustInvest LLC increased its holdings in ICL Group by 7.0% during the 4th quarter. JustInvest LLC now owns 28,033 shares of the basic materials company’s stock valued at $271,000 after acquiring an additional 1,838 shares in the last quarter. BlackRock Inc. raised its position in ICL Group by 17.3% during the fourth quarter. BlackRock Inc. now owns 1,830,775 shares of the basic materials company’s stock worth $17,704,000 after acquiring an additional 269,701 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of ICL Group by 16.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 988,386 shares of the basic materials company’s stock valued at $9,557,000 after purchasing an additional 136,602 shares in the last quarter.

About ICL Group (Get Rating)

ICL Group Ltd. engages in the manufacture of mineral-based products for the agriculture, food, and engineered materials markets. Its products include potash and phosphate fertilizers, specialty fertilizers, functional ingredients, flame retardants and magnesia products. The company was founded in 1968 and is headquartered in Tel Aviv, Israel.

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