Israel Chemicals Ltd. (ICL) Upgraded by Zacks Investment Research to “Strong-Buy”
Israel Chemicals Ltd. (NYSE:ICL) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research note issued on Monday. The brokerage currently has a $4.25 price objective on the stock. Zacks Investment Research’s price target indicates a potential upside of 13.33% from the company’s current price.
According to Zacks, “Israel Chemicals Ltd. is a manufacturer of specialty fertilizers and specialty phosphates, flame retardants and water treatment solutions. It operates primarily in three markets: agriculture, food and engineered materials. The Company’s products include bromine specialty chemicals, potash, phosphate fertilizers, and specialty performance and industrial products. It markets its products primarily in Israel, Europe, and the Americas. Israel Chemicals Ltd. is headquartered in Tel Aviv, Israel. “
Israel Chemicals (NYSE:ICL) remained flat at $3.75 on Monday. The stock had a trading volume of 79,677 shares. The firm’s 50-day moving average price is $3.99 and its 200-day moving average price is $4.15. The firm has a market cap of $4.77 billion, a P/E ratio of 11.83 and a beta of 1.10. Israel Chemicals has a 12-month low of $3.68 and a 12-month high of $5.86.
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Israel Chemicals (NYSE:ICL) last released its earnings results on Wednesday, August 10th. The company reported $0.10 EPS for the quarter, beating the Zacks’ consensus estimate of $0.06 by $0.04. The business had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.26 billion. Israel Chemicals had a return on equity of 17.44% and a net margin of 7.40%. The firm’s revenue was up 15.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.08 earnings per share. On average, equities analysts forecast that Israel Chemicals will post $0.33 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, September 27th. Investors of record on Tuesday, September 13th were paid a $0.047 dividend. This represents a $0.19 dividend on an annualized basis and a yield of 5.01%. The ex-dividend date of this dividend was Friday, September 9th. This is a boost from Israel Chemicals’s previous quarterly dividend of $0.03. Israel Chemicals’s dividend payout ratio is currently 59.38%.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Jarislowsky Fraser Ltd boosted its position in Israel Chemicals by 3.1% in the second quarter. Jarislowsky Fraser Ltd now owns 29,084 shares of the company’s stock worth $113,000 after buying an additional 887 shares in the last quarter. Alliancebernstein L.P. boosted its position in Israel Chemicals by 1.6% in the second quarter. Alliancebernstein L.P. now owns 496,495 shares of the company’s stock worth $1,936,000 after buying an additional 7,874 shares in the last quarter. Nikko Asset Management Americas Inc. boosted its position in Israel Chemicals by 1.2% in the second quarter. Nikko Asset Management Americas Inc. now owns 714,283 shares of the company’s stock worth $2,807,000 after buying an additional 8,800 shares in the last quarter. Public Sector Pension Investment Board boosted its position in Israel Chemicals by 19.0% in the second quarter. Public Sector Pension Investment Board now owns 96,656 shares of the company’s stock worth $374,000 after buying an additional 15,400 shares in the last quarter. Finally, Foyston Gordon & Payne Inc boosted its position in Israel Chemicals by 0.8% in the second quarter. Foyston Gordon & Payne Inc now owns 2,008,715 shares of the company’s stock worth $7,834,000 after buying an additional 16,631 shares in the last quarter. 6.88% of the stock is currently owned by institutional investors and hedge funds.
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