Icahn Enterprises (NASDAQ:IEP) Shares Down 3% – What’s Next?

Shares of Icahn Enterprises L.P. (NASDAQ:IEP) were down 3% during mid-day trading on Monday . The company traded as low as $9.43 and last traded at $9.40. Approximately 327,680 shares changed hands during trading, a decline of 65% from the average daily volume of 931,386 shares. The stock had previously closed at $9.69.

Analysts Set New Price Targets

Separately, StockNews.com cut Icahn Enterprises from a “hold” rating to a “sell” rating in a report on Sunday, March 16th.

Icahn Enterprises Stock Performance

The company has a current ratio of 4.61, a quick ratio of 4.61 and a debt-to-equity ratio of 1.34. The stock’s 50 day moving average price is $9.74 and its two-hundred day moving average price is $11.05. The firm has a market capitalization of $4.90 billion, a price-to-earnings ratio of -8.58 and a beta of 0.85.

Icahn Enterprises (NASDAQ:IEP) last posted 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). The company had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.27 billion. Icahn Enterprises had a negative net margin of 4.79% and a negative return on equity of 8.82%. On average, analysts forecast that Icahn Enterprises L.P. will post -0.55 EPS for the current year.

Icahn Enterprises Announces Dividend

The company 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 of this dividend is Monday, March 10th. This represents a $2.00 dividend on an annualized basis and a yield of 21.36%. Icahn Enterprises’s payout ratio is -210.53%.

Institutional Investors Weigh In On Icahn Enterprises

A number of large investors have recently added to or reduced their stakes in IEP. Wilmington Savings Fund Society FSB acquired a new stake in shares of Icahn Enterprises in the third quarter valued at approximately $30,000. Mpwm Advisory Solutions LLC purchased a new stake in Icahn Enterprises in the 4th quarter valued at approximately $37,000. Global Retirement Partners LLC lifted its stake in Icahn Enterprises by 18.1% in the 4th quarter. Global Retirement Partners LLC now owns 7,122 shares of the conglomerate’s stock valued at $62,000 after buying an additional 1,089 shares in the last quarter. Caz Investments LP purchased a new position in Icahn Enterprises during the fourth quarter worth $87,000. Finally, BNP Paribas Financial Markets increased its position in Icahn Enterprises by 40,056.0% during the fourth quarter. BNP Paribas Financial Markets now owns 10,039 shares of the conglomerate’s stock worth $87,000 after buying an additional 10,014 shares in the last quarter. 87.09% of the stock is 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.