Icahn Enterprises (NASDAQ:IEP) Cut to Sell at StockNews.com

StockNews.com downgraded shares of Icahn Enterprises (NASDAQ:IEP) from a hold rating to a sell rating in a report released on Friday.

Icahn Enterprises Trading Up 0.2 %

NASDAQ IEP opened at $10.09 on Friday. The business has a 50 day simple moving average of $9.58 and a 200 day simple moving average of $11.73. Icahn Enterprises has a one year low of $8.53 and a one year high of $20.25. The stock has a market capitalization of $5.09 billion, a P/E ratio of -9.26 and a beta of 0.81. The company has a debt-to-equity ratio of 1.34, a current ratio of 4.61 and a quick ratio of 4.61.

Icahn Enterprises (NASDAQ:IEP) last released its earnings results on Wednesday, February 26th. The conglomerate reported ($0.19) EPS for the quarter, missing the consensus estimate of $0.17 by ($0.36). Icahn Enterprises had a negative return on equity of 8.82% and a negative net margin of 4.79%. The business had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.27 billion. Research analysts expect that Icahn Enterprises will post -0.55 earnings per share for the current year.

Icahn Enterprises Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 16th. Shareholders of record on Monday, March 10th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $2.00 dividend on an annualized basis and a yield of 19.82%. Icahn Enterprises’s dividend payout ratio (DPR) is presently -183.49%.

Institutional Investors Weigh In On Icahn Enterprises

A number of hedge funds have recently added to or reduced their stakes in the company. Prime Capital Investment Advisors LLC grew its stake in Icahn Enterprises by 6.4% in the third quarter. Prime Capital Investment Advisors LLC now owns 14,203 shares of the conglomerate’s stock valued at $192,000 after acquiring an additional 855 shares during the period. Meridian Wealth Management LLC boosted its position in shares of Icahn Enterprises by 5.1% during the fourth quarter. Meridian Wealth Management LLC now owns 21,171 shares of the conglomerate’s stock valued at $184,000 after buying an additional 1,026 shares during the last quarter. Global Retirement Partners LLC boosted its position in shares of Icahn Enterprises by 18.1% during the fourth quarter. Global Retirement Partners LLC now owns 7,122 shares of the conglomerate’s stock valued at $62,000 after buying an additional 1,089 shares during the last quarter. Barclays PLC boosted its position in shares of Icahn Enterprises by 24.3% during the third quarter. Barclays PLC now owns 7,307 shares of the conglomerate’s stock valued at $100,000 after buying an additional 1,427 shares during the last quarter. Finally, United Advisor Group LLC boosted its position in shares of Icahn Enterprises by 7.7% during the third quarter. United Advisor Group LLC now owns 28,930 shares of the conglomerate’s stock valued at $391,000 after buying an additional 2,079 shares during the last quarter. Institutional investors and hedge funds own 87.09% of the company’s stock.

Icahn Enterprises Company Profile

Icahn Enterprises L.P., through its subsidiaries, engages in the investment, energy, automotive, food packaging, real estate, home fashion, and pharma businesses in the United States and Internationally. The Investment segment invests its proprietary capital through various private investment funds. This segment provides investment advisory and other related services.