Israel Chemicals Ltd to Post Q3 2018 Earnings of $0.08 Per Share, Jefferies Financial Group Forecasts (ICL)

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Israel Chemicals Ltd (NYSE:ICL) – Stock analysts at Jefferies Financial Group lowered their Q3 2018 earnings per share (EPS) estimates for Israel Chemicals in a report released on Tuesday, October 16th, Zacks Investment Research reports. Jefferies Financial Group analyst L. Alexander now expects that the basic materials company will earn $0.08 per share for the quarter, down from their previous estimate of $0.11. Jefferies Financial Group has a “Hold” rating and a $6.57 price objective on the stock. Jefferies Financial Group also issued estimates for Israel Chemicals’ Q4 2018 earnings at $0.09 EPS, FY2018 earnings at $0.35 EPS, FY2019 earnings at $0.35 EPS and FY2020 earnings at $0.40 EPS.

Israel Chemicals (NYSE:ICL) last posted its earnings results on Thursday, November 1st. The basic materials company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.01. The company had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.38 billion. Israel Chemicals had a net margin of 23.84% and a return on equity of 13.67%. Israel Chemicals’s revenue was down 4.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.09 EPS.

ICL has been the topic of several other reports. BMO Capital Markets restated a “hold” rating and issued a $5.25 price objective on shares of Israel Chemicals in a report on Wednesday, September 19th. Zacks Investment Research upgraded shares of Israel Chemicals from a “sell” rating to a “hold” rating in a report on Wednesday, August 29th. Finally, ValuEngine upgraded shares of Israel Chemicals from a “hold” rating to a “buy” rating in a report on Friday, August 24th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Israel Chemicals currently has a consensus rating of “Hold” and an average price target of $5.69.

NYSE:ICL traded down $0.04 on Wednesday, hitting $6.44. The stock had a trading volume of 224,621 shares, compared to its average volume of 224,791. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.34 and a quick ratio of 0.73. Israel Chemicals has a 1-year low of $3.85 and a 1-year high of $6.90. The firm has a market capitalization of $8.26 billion, a price-to-earnings ratio of 20.77, a PEG ratio of 1.88 and a beta of 1.07.

A number of institutional investors and hedge funds have recently made changes to their positions in ICL. Artemis Investment Management LLP purchased a new stake in Israel Chemicals during the 3rd quarter worth approximately $49,871,000. FMR LLC purchased a new stake in Israel Chemicals during the 3rd quarter worth approximately $25,668,000. Clal Insurance Enterprises Holdings Ltd increased its stake in 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 worth $2,990,000 after buying an additional 619,759 shares during the period. Van ECK Associates Corp increased its stake in 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 worth $9,265,000 after buying an additional 579,976 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in Israel Chemicals by 223.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 633,526 shares of the basic materials company’s stock worth $3,821,000 after buying an additional 437,688 shares during the period. 8.10% of the stock is currently owned by hedge funds and other institutional investors.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 19th. Investors of record on Tuesday, December 4th will be paid a dividend of $0.051 per share. This is an increase from Israel Chemicals’s previous quarterly dividend of $0.04. This represents a $0.20 annualized dividend and a yield of 3.17%. The ex-dividend date of this dividend is Monday, December 3rd. Israel Chemicals’s dividend payout ratio is presently 32.26%.

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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