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 Innovative Ag Solutions (IAS). 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. The Potash segment extracts potash from the Dead Sea; mines and produces potash and salt; produces Polysulphate; produces, markets, and sells magnesium and magnesium alloys, as well as related by-products, including chlorine and sylvinite; and sells salt. The Phosphate Solutions segment uses phosphate commodity products to produce specialty products; produces and markets phosphate-based fertilizers, as well as sulphuric acid, green phosphoric acid, and phosphate fertilizers; and manufactures thermal phosphoric acid for various industrial end markets, such as oral care, cleaning products, paints and coatings, water treatment, asphalt modification, construction, and metal treatment. It also develops and produces functional food ingredients and phosphate additives for use in the processed meat, poultry, seafood, dairy, beverage, and baked goods markets; and produces milk and whey proteins for the food ingredients industry. The IAS segment develops, manufactures, markets, and sells fertilizers based primarily on nitrogen, potash, and phosphate, including water soluble specialty, liquid, soluble, and controlled-release fertilizers. It sells its products through marketing companies, agents, and distributors. The company was formerly known as Israel Chemicals Ltd. and changed its name to ICL Group Ltd in May 2020. The company was founded in 1968 and is headquartered in Tel Aviv, Israel.
Wall Street Analyst Weigh In
Separately, Barclays started coverage on ICL Group in a report on Wednesday, June 1st. They issued an "equal weight" rating and a $12.00 target price on the stock.
ICL Group Stock Performance
ICL traded up $0.16 during mid-day trading on Thursday, reaching $10.06. The stock had a trading volume of 67,554 shares, compared to its average volume of 1,150,832. ICL Group has a 52 week low of $6.84 and a 52 week high of $12.96. The company has a quick ratio of 1.01, a current ratio of 1.65 and a debt-to-equity ratio of 0.42. The firm's fifty day simple moving average is $9.61 and its two-hundred day simple moving average is $10.56.
ICL Group (NYSE:ICL - Get Rating) last released its earnings results on Wednesday, May 11th. The basic materials company reported $0.48 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.33 by $0.15. ICL Group had a net margin of 18.44% and a return on equity of 38.42%. The company had revenue of $2.53 billion for the quarter, compared to the consensus estimate of $2.12 billion. On average, equities research analysts forecast that ICL Group will post 1.92 earnings per share for the current year.
ICL Group Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 14th. Investors of record on Wednesday, August 31st will be paid a dividend of $0.2918 per share. This is a positive change from ICL Group's previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Tuesday, August 30th. This represents a $1.17 annualized dividend and a yield of 11.60%. ICL Group's dividend payout ratio (DPR) is presently 72.52%.