Israel Chemicals Ltd. (NYSE:ICL) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Monday. The brokerage currently has a $4.25 target price on the stock. Zacks Investment Research’s price objective indicates a potential upside of 12.43% 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. “
Shares of Israel Chemicals (NYSE:ICL) opened at 3.78 on Monday. Israel Chemicals has a 1-year low of $3.68 and a 1-year high of $5.86. The firm has a market capitalization of $4.81 billion, a PE ratio of 11.92 and a beta of 1.10. The firm has a 50-day moving average of $3.98 and a 200-day moving average of $4.15.
Israel Chemicals (NYSE:ICL) last released its earnings results on Wednesday, August 10th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.04. Israel Chemicals had a net margin of 7.40% and a return on equity of 17.44%. The company had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.26 billion. During the same period in the prior year, the company posted $0.08 EPS. The company’s revenue was up 15.1% compared to the same quarter last year. On average, equities research analysts anticipate that Israel Chemicals will post $0.33 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 27th. Shareholders of record on Tuesday, September 13th were given a dividend of $0.047 per share. The ex-dividend date of this dividend was Friday, September 9th. This is an increase from Israel Chemicals’s previous quarterly dividend of $0.03. This represents a $0.19 dividend on an annualized basis and a yield of 4.97%. Israel Chemicals’s dividend payout ratio is presently 59.38%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ICL. Caisse DE Depot ET Placement DU Quebec boosted its stake in shares of Israel Chemicals by 5.0% in the second quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,381,276 shares of the company’s stock worth $5,351,000 after buying an additional 65,631 shares during the period. Guggenheim Capital LLC boosted its stake in shares of Israel Chemicals by 40.7% in the second quarter. Guggenheim Capital LLC now owns 498,891 shares of the company’s stock worth $1,945,000 after buying an additional 144,385 shares during the period. Barclays PLC boosted its stake in shares of Israel Chemicals by 96.7% in the second quarter. Barclays PLC now owns 167,191 shares of the company’s stock worth $651,000 after buying an additional 82,174 shares during the period. Mackenzie Financial Corp bought a new stake in shares of Israel Chemicals during the second quarter worth approximately $1,024,000. Finally, Van ECK Associates Corp boosted its stake in shares of Israel Chemicals by 6.9% in the second quarter. Van ECK Associates Corp now owns 1,687,447 shares of the company’s stock worth $6,581,000 after buying an additional 109,202 shares during the period. Institutional investors own 6.88% of the company’s stock.
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