Icahn Enterprises (NASDAQ:IEP) Stock Price Crosses Below 200 Day Moving Average – What’s Next?

Icahn Enterprises L.P. (NASDAQ:IEPGet Free Report)’s share price passed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $12.98 and traded as low as $9.50. Icahn Enterprises shares last traded at $9.85, with a volume of 830,706 shares changing hands.

Icahn Enterprises Trading Up 3.4 %

The company has a debt-to-equity ratio of 1.34, a current ratio of 4.61 and a quick ratio of 4.61. The business has a 50-day moving average price of $10.03 and a two-hundred day moving average price of $12.98. The firm has a market cap of $4.96 billion, a PE ratio of -9.04 and a beta of 0.80.

Icahn Enterprises (NASDAQ:IEPGet Free Report) last issued its quarterly earnings data on Friday, November 8th. The conglomerate reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.16). The company had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.32 billion. Icahn Enterprises had a negative return on equity of 8.82% and a negative net margin of 4.79%. During the same quarter in the prior year, the firm earned ($0.01) earnings per share. Analysts forecast that Icahn Enterprises L.P. will post -0.55 EPS for the current year.

Icahn Enterprises Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, December 26th. Shareholders of record on Monday, November 18th were paid a dividend of $0.50 per share. The ex-dividend date was Monday, November 18th. This represents a $2.00 annualized dividend and a dividend yield of 20.30%. Icahn Enterprises’s dividend payout ratio is currently -183.48%.

Hedge Funds Weigh In On Icahn Enterprises

A number of institutional investors have recently modified their holdings of IEP. Wilmington Savings Fund Society FSB purchased a new stake in Icahn Enterprises in the 3rd quarter worth approximately $30,000. Planning Capital Management Corp acquired a new position in Icahn Enterprises in the third quarter valued at $34,000. Northwestern Mutual Wealth Management Co. boosted its stake in Icahn Enterprises by 61.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,845 shares of the conglomerate’s stock worth $47,000 after buying an additional 1,083 shares during the last quarter. Barclays PLC grew its holdings in Icahn Enterprises by 24.3% in the 3rd 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 period. Finally, Wealth Enhancement Advisory Services LLC purchased a new position in shares of Icahn Enterprises during the 3rd quarter worth about $164,000. Institutional investors and hedge funds own 87.09% of the company’s stock.

Icahn Enterprises Company Profile

(Get Free Report)

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.

Further Reading

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