Israel Chemicals (ICL) Issues Earnings Results

Israel Chemicals (NYSE:ICL) announced its earnings results on Thursday. The basic materials company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01, Morningstar.com reports. The business had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.38 billion. Israel Chemicals had a net margin of 22.74% and a return on equity of 14.16%. The company’s quarterly revenue was down 4.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.09 EPS.

Shares of ICL stock traded down $0.13 during mid-day trading on Friday, reaching $5.98. 119,010 shares of the company’s stock traded hands, compared to its average volume of 210,650. Israel Chemicals has a 12 month low of $3.85 and a 12 month high of $6.90. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.35 and a quick ratio of 0.76. The company has a market cap of $7.48 billion, a price-to-earnings ratio of 19.29, a PEG ratio of 1.75 and a beta of 1.07.

A number of brokerages have weighed in on ICL. Zacks Investment Research upgraded shares of Israel Chemicals from a “sell” rating to a “hold” rating in a research note on Tuesday. Jefferies Financial Group reiterated a “hold” rating and set a $6.57 target price on shares of Israel Chemicals in a research note on Sunday, October 21st. BMO Capital Markets reiterated a “hold” rating and set a $5.25 target price on shares of Israel Chemicals in a research note on Wednesday, September 19th. Finally, ValuEngine raised shares of Israel Chemicals from a “hold” rating to a “buy” rating in a research report on Friday, August 24th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Israel Chemicals currently has a consensus rating of “Hold” and a consensus price target of $5.69.

Several hedge funds have recently modified their holdings of ICL. Clal Insurance Enterprises Holdings Ltd grew its position in shares of Israel Chemicals by 2,050.6% during the 2nd quarter. Clal Insurance Enterprises Holdings Ltd now owns 649,982 shares of the basic materials company’s stock valued at $2,990,000 after acquiring an additional 619,759 shares during the period. Van ECK Associates Corp grew its position in shares of Israel Chemicals by 40.4% during the 2nd quarter. Van ECK Associates Corp now owns 2,014,048 shares of the basic materials company’s stock valued at $9,265,000 after acquiring an additional 579,976 shares during the period. Voya Investment Management LLC grew its position in shares of Israel Chemicals by 526.7% during the 2nd quarter. Voya Investment Management LLC now owns 473,144 shares of the basic materials company’s stock valued at $2,159,000 after acquiring an additional 397,649 shares during the period. BlackRock Inc. grew its position in shares of Israel Chemicals by 312.5% during the 2nd quarter. BlackRock Inc. now owns 470,207 shares of the basic materials company’s stock valued at $2,163,000 after acquiring an additional 356,214 shares during the period. Finally, JPMorgan Chase & Co. grew its position in shares of Israel Chemicals by 116.0% during the 1st quarter. JPMorgan Chase & Co. now owns 403,763 shares of the basic materials company’s stock valued at $1,713,000 after acquiring an additional 216,819 shares during the period. 8.12% of the stock is owned by hedge funds and other institutional investors.

Israel Chemicals Company Profile

Israel Chemicals Ltd. operates as a specialty minerals company worldwide. The company operates through two segments, Essential Minerals and Specialty Solutions. The company extracts potash from the Dead Sea; mines and produces potash, salt, and Polysulphate; and produces, markets, and sells pure magnesium and magnesium alloys, as well as produces dry carnallite and related by-products, including chlorine and sylvinite.

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Earnings History for Israel Chemicals (NYSE:ICL)

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