ICL Group (NYSE:ICL) Shares Gap Up - Here's Why

Key Points

• ICL shares jumped premarket, gapping from $5.18 to $5.37 and last trading around $5.42 — up roughly 5.9%.
• Wall Street's consensus rating is Hold (three analysts) with an average target price of $6.10, signaling a cautious outlook despite the stock pop.
• ICL's latest quarter delivered EPS of $0.09 (in line) but revenue missed at $1.70B versus $1.77B expected, and the company paid a quarterly dividend of $0.0465 (annualized $0.19, yield 3.4%) with a payout ratio near 82%.

ICL Group Ltd. (NYSE:ICL - Get Free Report) shares gapped up prior to trading on Monday . The stock had previously closed at $5.18, but opened at $5.37. ICL Group shares last traded at $5.4150, with a volume of 246,389 shares traded.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on ICL shares. Weiss Ratings restated a "hold (c)" rating on shares of ICL Group in a report on Monday, December 29th. Wall Street Zen lowered shares of ICL Group from a "buy" rating to a "hold" rating in a report on Saturday, March 14th. Three analysts have rated the stock with a Hold rating, According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $6.10.

ICL Group Stock Up 5.9%

The company has a current ratio of 1.33, a quick ratio of 0.71 and a debt-to-equity ratio of 0.30. The stock's 50-day simple moving average is $5.29 and its 200-day simple moving average is $5.57. The firm has a market capitalization of $7.08 billion, a P/E ratio of 32.26 and a beta of 0.92.

ICL Group (NYSE:ICL - Get Free Report) last issued its quarterly earnings data on Wednesday, February 18th. The basic materials company reported $0.09 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.09. ICL Group had a net margin of 3.16% and a return on equity of 7.44%. The business had revenue of $1.70 billion during the quarter, compared to the consensus estimate of $1.77 billion. As a group, research analysts predict that ICL Group Ltd. will post 0.37 earnings per share for the current fiscal year.

ICL Group Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 25th. Shareholders of record on Tuesday, March 10th were given a $0.0465 dividend. This represents a $0.19 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend was Tuesday, March 10th. ICL Group's dividend payout ratio is presently 82.35%.

Institutional Investors Weigh In On ICL Group

Large investors have recently made changes to their positions in the business. Farther Finance Advisors LLC raised its stake in shares of ICL Group by 351.2% during the 4th quarter. Farther Finance Advisors LLC now owns 5,157 shares of the basic materials company's stock worth $30,000 after purchasing an additional 4,014 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in shares of ICL Group during the 4th quarter worth $38,000. Boothbay Fund Management LLC bought a new stake in shares of ICL Group during the 4th quarter worth $59,000. Thrivent Financial for Lutherans bought a new stake in shares of ICL Group during the 2nd quarter worth $72,000. Finally, Centiva Capital LP bought a new stake in shares of ICL Group during the 3rd quarter worth $69,000. 13.38% of the stock is owned by hedge funds and other institutional investors.

About ICL Group

ICL Group is a global specialty minerals and chemicals company headquartered in Tel Aviv, Israel. Established in its current form through the consolidation of Israeli government–owned chemical operations, ICL has evolved into a publicly traded entity on the New York Stock Exchange NYSE: ICL. The company's origins date back to state-driven mineral extraction in the Negev and the Dead Sea region, and over the decades it has grown through strategic acquisitions, technological innovation and a gradual privatization process completed in the early 2010s.

ICL's core operations are organized into three principal business areas.

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