Icahn Enterprises (NASDAQ:IEP) Sees Unusually-High Trading Volume

Icahn Enterprises L.P. (NASDAQ:IEP) shares saw unusually-high trading volume on Tuesday . Approximately 422,373 shares changed hands during trading, a decline of 44% from the previous session’s volume of 749,834 shares.The stock last traded at $13.92 and had previously closed at $14.06.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut shares of Icahn Enterprises from a “buy” rating to a “hold” rating in a research report on Thursday, May 9th.

Icahn Enterprises Trading Down 3.8 %

The business’s fifty day simple moving average is $16.53 and its 200 day simple moving average is $17.27. The company has a current ratio of 4.62, a quick ratio of 4.62 and a debt-to-equity ratio of 1.17. The stock has a market cap of $6.01 billion, a P/E ratio of -11.57 and a beta of 0.80.

Icahn Enterprises (NASDAQ:IEP) last issued its earnings results on Wednesday, August 7th. The conglomerate reported ($0.72) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.91). The business had revenue of $2.36 billion during the quarter, compared to the consensus estimate of $2.24 billion. Icahn Enterprises had a negative net margin of 4.30% and a negative return on equity of 7.04%. During the same period last year, the business posted ($0.72) EPS. As a group, analysts expect that Icahn Enterprises L.P. will post 0.53 EPS for the current year.

Icahn Enterprises Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 25th. Stockholders of record on Monday, August 19th will be paid a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 30.05%. The ex-dividend date is Monday, August 19th. Icahn Enterprises’s dividend payout ratio (DPR) is presently -347.83%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. PNC Financial Services Group Inc. raised its position in shares of Icahn Enterprises by 3.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 15,353 shares of the conglomerate’s stock valued at $264,000 after acquiring an additional 537 shares during the period. National Bank of Canada FI raised its position in shares of Icahn Enterprises by 6.0% in the 4th quarter. National Bank of Canada FI now owns 10,600 shares of the conglomerate’s stock valued at $187,000 after acquiring an additional 600 shares during the period. PSI Advisors LLC raised its position in shares of Icahn Enterprises by 3.4% in the 2nd quarter. PSI Advisors LLC now owns 30,055 shares of the conglomerate’s stock valued at $495,000 after acquiring an additional 990 shares during the period. Spire Wealth Management raised its position in shares of Icahn Enterprises by 100.0% in the 1st quarter. Spire Wealth Management now owns 2,000 shares of the conglomerate’s stock valued at $34,000 after acquiring an additional 1,000 shares during the period. Finally, Northwestern Mutual Wealth Management Co. raised its position in shares of Icahn Enterprises by 61.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,845 shares of the conglomerate’s stock valued at $47,000 after acquiring an additional 1,083 shares during the period. Institutional investors 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.