ICL Group (NYSE:ICL) Announces Quarterly Earnings Results, Beats Estimates By $0.03 EPS

ICL Group (NYSE:ICL) announced its quarterly earnings data on Monday. The basic materials company reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.03, Zacks reports. ICL Group had a net margin of 6.08% and a return on equity of 8.41%. The business had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same period in the prior year, the business posted $0.11 earnings per share.

ICL Group Stock Performance

ICL stock traded down $0.11 during trading hours on Tuesday, reaching $4.28. The stock had a trading volume of 1,299,050 shares, compared to its average volume of 774,672. The stock has a market capitalization of $5.62 billion, a PE ratio of 13.81, a price-to-earnings-growth ratio of 5.83 and a beta of 1.23. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.62 and a quick ratio of 0.94. The stock has a 50-day simple moving average of $4.11 and a 200 day simple moving average of $4.35. ICL Group has a fifty-two week low of $3.79 and a fifty-two week high of $5.54.

ICL Group Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th will be paid a $0.0133 dividend. This represents a $0.05 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date is Wednesday, December 4th. ICL Group’s dividend payout ratio is currently 45.16%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on ICL shares. StockNews.com downgraded shares of ICL Group from a “strong-buy” rating to a “buy” rating in a research report on Monday, September 30th. Barclays reduced their target price on shares of ICL Group from $4.50 to $4.00 and set an “underweight” rating for the company 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.