Zacks Investment Research upgraded shares of Israel Chemicals Ltd. (NYSE:ICL) from a hold rating to a strong-buy rating in a report published on Monday. Zacks Investment Research currently has $4.25 price target on the stock.
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 3.72 on Monday. The firm has a market capitalization of $4.74 billion, a P/E ratio of 11.74 and a beta of 1.10. Israel Chemicals has a 12 month low of $3.68 and a 12 month high of $5.86. The firm’s 50-day moving average price is $3.99 and its 200 day moving average price is $4.15.
Israel Chemicals (NYSE:ICL) last released its quarterly earnings data on Wednesday, August 10th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.06 by $0.04. The business earned $1.38 billion during the quarter, compared to analysts’ expectations of $1.26 billion. Israel Chemicals had a net margin of 7.40% and a return on equity of 17.44%. The company’s revenue for the quarter was up 15.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.08 EPS. Analysts anticipate that Israel Chemicals will post $0.33 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 27th. Stockholders of record on Tuesday, September 13th were given a dividend of $0.047 per share. This is a boost from Israel Chemicals’s previous quarterly dividend of $0.03. This represents a $0.19 annualized dividend and a dividend yield of 5.01%. The ex-dividend date was Friday, September 9th. Israel Chemicals’s payout ratio is 59.38%.
Several large investors have recently added to or reduced their stakes in ICL. Jarislowsky Fraser Ltd boosted its stake in Israel Chemicals by 3.1% in the second quarter. Jarislowsky Fraser Ltd now owns 29,084 shares of the company’s stock valued at $113,000 after buying an additional 887 shares during the period. Barclays PLC boosted its stake in Israel Chemicals by 122.1% in the first quarter. Barclays PLC now owns 85,017 shares of the company’s stock valued at $340,000 after buying an additional 46,732 shares during the period. Public Sector Pension Investment Board boosted its stake 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 valued at $374,000 after buying an additional 15,400 shares during the period. Edmond DE Rothschild Holding S.A. boosted its stake in Israel Chemicals by 74.7% in the first quarter. Edmond DE Rothschild Holding S.A. now owns 147,805 shares of the company’s stock valued at $641,000 after buying an additional 63,205 shares during the period. Finally, Bank of Montreal Can purchased a new stake in Israel Chemicals during the second quarter valued at about $803,000. 6.88% of the stock is owned by institutional investors and hedge funds.