Here's Why You Should Add ICL Group Stock to Your Portfolio Now

ICL Group Ltd. ICL remains focused on expanding its innovative product range pipeline while implementing targeted cost and efficiency initiatives.We are positive about ICL’s prospects and believe that the time is right for you to add the stock to the portfolio. It looks promising and is poised to carry the momentum ahead.Let's see what makes this Zacks Rank #1 (Strong Buy) stock an attractive investment option at the moment.ICL Stock Outperforms IndustryICL has outperformed its industry over the past year. The company’s shares have rallied 8% against a 7.9% decline of its industry.Image Source: Zacks Investment ResearchICL’s Earnings Estimates NorthboundEarnings estimates for ICL for 2024 and 2025 have been going up over the past 60 days. The Zacks Consensus Estimate for 2024 has increased 8.8%, while the same for 2025 has jumped 2.4%.ICL’s Impressive Earnings Surprise HistoryICL outpaced the Zacks Consensus Estimate in each of the trailing four quarters, with the average earnings surprise being 18.1%.Raised Guidance Fuels Optimism for ICLICL recently raised its full-year 2024 outlook, now projecting specialties-driven EBITDA of $0.95-$1.05 billion. This represents an increase over the previous projection of $0.8-$1 billion. ICL intends to limit its overall annual potash sales volumes this year to 4.6 million metric tons, which is consistent with sales quantities in 2023. While the company continues to confront geopolitical challenges, it is committed to building its innovative product portfolio pipeline and implementing targeted cost and efficiency initiatives.The company recently unveiled VeriQuel R100, a ground-breaking phosphorus-based solution. This novel reactive phosphorus flame retardant is designed for rigid polyurethane insulation products such as sheathing, in-wall and PIR roofing, which is used on more than 70% of commercial roofs. VeriQuel R100 will play a critical role in providing a high-performance, environmentally friendly solution without compromising fire safety. ICL's investment in Plantible Foods also demonstrates its commitment to developing sustainable and innovative food-sector solutions. The development of breakthrough ingredients, such as Rovitaris Binding Solution, aligns with these industry developments and positions ICL to satisfy evolving customer demands and capitalize on emerging opportunities.Other Key PicksOther top-ranked stocks in the basic materials space include Carpenter Technology Corporation CRS, Sylvamo Corporation SLVM and Silvercorp Metals Inc. SVM. Carpenter Technology currently sports a Zacks Rank #1. CRS beat the Zacks Consensus Estimate in each of the last four quarters, with the average earnings surprise being 14.1%. The company's shares have soared 176.6% in the past year. You can see the complete list of today's Zacks #1 Rank stocks here.Sylvamo, which currently carries a Zacks Rank #2 (Buy), beat the consensus estimate in each of the trailing four quarters. In this time frame, it has delivered an earnings surprise of roughly 16.7%, on average. SLVM’s shares have rallied 60.5% over the past year. Silvercorp, currently carrying a Zacks Rank #2, beat the consensus estimate in three of the last four quarters and being in-line once, with the average earnings surprise being 16.5%. SVM has gained around 24% in the past year. Research Chief Names "Single Best Pick to Double"From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.Free: See Our Top Stock And 4 Runners UpWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Carpenter Technology Corporation (CRS): Free Stock Analysis Report Silvercorp Metals Inc. (SVM): Free Stock Analysis Report ICL Group Ltd. (ICL): Free Stock Analysis Report Sylvamo Corporation (SLVM): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks