ICL Group (NYSE:ICL) Issues Quarterly Earnings Results, Beats Expectations By $0.03 EPS

ICL Group (NYSE:ICL) posted its quarterly earnings results on Monday. The basic materials company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.03, Zacks reports. The firm had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.73 billion. ICL Group had a net margin of 5.83% and a return on equity of 8.35%. During the same period in the prior year, the company posted $0.11 earnings per share.

ICL Group Price Performance

Shares of NYSE:ICL traded up $0.01 during trading hours on Wednesday, hitting $4.29. 1,037,981 shares of the company’s stock traded hands, compared to its average volume of 775,869. ICL Group has a 52 week low of $3.79 and a 52 week high of $5.54. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.94 and a current ratio of 1.62. The company’s fifty day simple moving average is $4.11 and its two-hundred day simple moving average is $4.35. The company has a market cap of $5.64 billion, a price-to-earnings ratio of 13.87, a price-to-earnings-growth ratio of 6.02 and a beta of 1.23.

ICL Group Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th will be given a dividend of $0.0133 per share. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $0.05 annualized dividend and a dividend yield of 1.24%. ICL Group’s dividend payout ratio (DPR) is 48.39%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on ICL. StockNews.com raised shares of ICL Group from a “buy” rating to a “strong-buy” rating in a report on Tuesday. Barclays dropped their price objective on shares of ICL Group from $4.50 to $4.00 and set an “underweight” rating on the stock in a report on Friday, August 16th.

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.