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

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

Icahn Enterprises Trading Down 1.5 %

Shares of Icahn Enterprises stock opened at $9.50 on Friday. 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 stock’s 50 day simple moving average is $9.69 and its 200-day simple moving average is $11.14. The stock has a market cap of $4.97 billion, a P/E ratio of -8.72 and a beta of 0.85. Icahn Enterprises has a 1-year low of $8.53 and a 1-year high of $19.10.

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

Icahn Enterprises Dividend Announcement

The company also recently declared 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. This represents a $2.00 annualized dividend and a dividend yield of 21.05%. The ex-dividend date of this dividend is Monday, March 10th. Icahn Enterprises’s payout ratio is presently -210.53%.

Institutional Investors Weigh In On Icahn Enterprises

Several hedge funds and other institutional investors have recently added to or reduced their stakes in IEP. Prime Capital Investment Advisors LLC grew its holdings in shares of Icahn Enterprises by 6.4% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 14,203 shares of the conglomerate’s stock worth $192,000 after purchasing an additional 855 shares during the period. Meridian Wealth Management LLC boosted its stake in Icahn Enterprises by 5.1% during the fourth quarter. Meridian Wealth Management LLC now owns 21,171 shares of the conglomerate’s stock worth $184,000 after buying an additional 1,026 shares during the period. Global Retirement Partners LLC increased 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 acquiring an additional 1,089 shares during the last quarter. Barclays PLC raised its stake in shares of 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 acquiring an additional 1,427 shares during the period. Finally, Wilmington Savings Fund Society FSB acquired a new position in shares of Icahn Enterprises in the 3rd quarter worth approximately $30,000. Institutional investors and hedge funds own 87.09% of the company’s stock.

About Icahn Enterprises

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.