ICL Group (NYSE:ICL) Shares Gap Up to $7.61

ICL Group Ltd (NYSE:ICL – Get Rating)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $7.61, but opened at $7.85. ICL Group shares last traded at $7.92, with a volume of 18,827 shares changing hands.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ICL. Morgan Stanley dropped their target price on shares of ICL Group from $12.00 to $8.50 and set an “equal weight” rating for the company in a report on Wednesday, January 11th. StockNews.com assumed coverage on shares of ICL Group in a research note on Wednesday, October 12th. They set a “strong-buy” rating for the company. BMO Capital Markets dropped their price objective on shares of ICL Group from $10.00 to $9.50 and set a “market perform” rating for the company in a research note on Thursday, November 10th. Finally, Barclays dropped their price objective on shares of ICL Group from $12.00 to $11.00 and set an “equal weight” rating for the company in a research note on Thursday, November 17th. Four research analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, ICL Group presently has an average rating of “Hold” and a consensus target price of $9.67.

ICL Group Stock Performance

The company has a market cap of $10.43 billion, a price-to-earnings ratio of 4.97, a price-to-earnings-growth ratio of 1.32 and a beta of 1.09. The stock’s fifty day simple moving average is $7.87 and its two-hundred day simple moving average is $8.69. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.01 and a current ratio of 1.65.

ICL Group (NYSE:ICL – Get Rating) last announced its quarterly earnings results on Wednesday, November 9th. The basic materials company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.04. The company had revenue of $2.52 billion for the quarter, compared to analyst estimates of $2.47 billion. ICL Group had a net margin of 21.19% and a return on equity of 45.26%. Equities research analysts anticipate that ICL Group Ltd will post 1.82 EPS for the current year.

ICL Group Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 14th. Shareholders of record on Wednesday, November 30th were issued a $0.2435 dividend. The ex-dividend date was Tuesday, November 29th. This represents a $0.97 dividend on an annualized basis and a dividend yield of 12.02%. ICL Group’s dividend payout ratio (DPR) is presently 44.79%.

Hedge Funds Weigh In On ICL Group

Several hedge funds and other institutional investors have recently made changes to their positions in ICL. Barclays PLC lifted its stake in shares of ICL Group by 325,000.0% during the third quarter. Barclays PLC now owns 3,251 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 3,250 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of ICL Group by 1,482.8% in the second quarter. EverSource Wealth Advisors LLC now owns 3,403 shares of the basic materials company’s stock worth $31,000 after buying an additional 3,188 shares during the period. Clear Street Markets LLC purchased a new stake in shares of ICL Group in the third quarter worth about $36,000. Advisor Group Holdings Inc. boosted its position in shares of ICL Group by 1,091.3% in the first quarter. Advisor Group Holdings Inc. now owns 3,002 shares of the basic materials company’s stock worth $36,000 after buying an additional 2,750 shares during the period. Finally, Lindbrook Capital LLC boosted its position in shares of ICL Group by 26.4% in the second quarter. Lindbrook Capital LLC now owns 5,075 shares of the basic materials company’s stock worth $46,000 after buying an additional 1,059 shares during the period. Institutional investors and hedge funds own 14.13% of the company’s stock.

ICL Group Company Profile

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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.