Icahn Enterprises (NASDAQ:IEP) Downgraded by StockNews.com to Sell

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

Icahn Enterprises Trading Up 7.1 %

Shares of Icahn Enterprises stock opened at $9.50 on Friday. Icahn Enterprises has a 52-week low of $8.53 and a 52-week high of $19.10. The company has a quick ratio of 4.61, a current ratio of 4.61 and a debt-to-equity ratio of 1.34. The company’s 50-day simple moving average is $9.68 and its 200-day simple moving average is $11.19. The firm has a market cap of $4.97 billion, a price-to-earnings ratio of -8.72 and a beta of 0.85.

Icahn Enterprises (NASDAQ:IEP) last issued its quarterly earnings results on Wednesday, February 26th. The conglomerate reported ($0.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.27 billion. As a group, equities research analysts anticipate that Icahn Enterprises will post -0.55 earnings per share for the current year.

Icahn Enterprises Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 16th. Shareholders of record on Monday, March 10th will be given a dividend of $0.50 per share. The ex-dividend date is Monday, March 10th. This represents a $2.00 annualized dividend and a yield of 21.05%. Icahn Enterprises’s payout ratio is currently -210.53%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in IEP. Icahn Carl C increased its stake in shares of Icahn Enterprises by 4.1% during the 4th quarter. Icahn Carl C now owns 450,788,170 shares of the conglomerate’s stock worth $3,908,333,000 after purchasing an additional 17,581,237 shares in the last quarter. First Trust Advisors LP increased its stake in shares of Icahn Enterprises by 26.2% during the 4th quarter. First Trust Advisors LP now owns 660,077 shares of the conglomerate’s stock worth $5,723,000 after purchasing an additional 137,012 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Icahn Enterprises during the 4th quarter worth approximately $969,000. Virtu Financial LLC purchased a new position in shares of Icahn Enterprises during the 4th quarter worth approximately $856,000. Finally, Axxcess Wealth Management LLC purchased a new position in shares of Icahn Enterprises during the 4th quarter worth approximately $447,000. 87.09% of the stock is currently owned by institutional investors and hedge funds.

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.