Icahn Enterprises (NASDAQ:IEP) Upgraded by StockNews.com to “Hold” Rating

StockNews.com upgraded shares of Icahn Enterprises (NASDAQ:IEP) from a sell rating to a hold rating in a research report sent to investors on Saturday morning.

Icahn Enterprises Stock Up 1.0 %

IEP stock opened at $10.00 on Friday. Icahn Enterprises has a twelve month low of $8.53 and a twelve month 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 stock has a market cap of $5.23 billion, a P/E ratio of -9.17 and a beta of 0.85. The business’s 50-day moving average price is $9.66 and its 200-day moving average price is $11.42.

Icahn Enterprises (NASDAQ:IEP) last posted its quarterly earnings data on Wednesday, February 26th. The conglomerate reported ($0.19) earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.36). Icahn Enterprises had a negative net margin of 4.79% and a negative return on equity of 8.82%. The company had revenue of $2.37 billion for the quarter, compared to analysts’ expectations of $2.27 billion. On average, equities research analysts forecast that Icahn Enterprises will post -0.55 EPS for the current year.

Icahn Enterprises Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 16th. Stockholders 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 dividend on an annualized basis and a dividend yield of 20.00%. Icahn Enterprises’s payout ratio is currently -210.53%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in IEP. Icahn Carl C raised its stake in Icahn Enterprises by 4.1% during the 4th quarter. Icahn Carl C now owns 450,788,170 shares of the conglomerate’s stock valued at $3,908,333,000 after purchasing an additional 17,581,237 shares during the period. First Trust Advisors LP raised its stake in Icahn Enterprises by 26.2% during the 4th quarter. First Trust Advisors LP now owns 660,077 shares of the conglomerate’s stock valued at $5,723,000 after purchasing an additional 137,012 shares during the period. Geode Capital Management LLC raised its stake in Icahn Enterprises by 3.1% during the 3rd quarter. Geode Capital Management LLC now owns 408,157 shares of the conglomerate’s stock valued at $5,518,000 after purchasing an additional 12,421 shares during the period. Raymond James Financial Inc. bought a new stake in Icahn Enterprises during the 4th quarter valued at approximately $969,000. Finally, Virtu Financial LLC bought a new stake in Icahn Enterprises during the 4th quarter valued at approximately $856,000. 87.09% of the stock is owned by hedge funds and other institutional investors.

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.