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 sent to investors on Sunday.

Icahn Enterprises Stock Up 7.1 %

Shares of NASDAQ IEP opened at $9.50 on Friday. Icahn Enterprises has a 1 year low of $8.53 and a 1 year high of $19.10. The firm’s 50 day moving average price is $9.68 and its 200 day moving average price is $11.19. The firm has a market cap of $4.97 billion, a P/E ratio of -8.72 and a beta of 0.85. The company has a debt-to-equity ratio of 1.34, a quick ratio of 4.61 and a current ratio of 4.61.

Icahn Enterprises (NASDAQ:IEP) last announced its 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, sell-side analysts anticipate that Icahn Enterprises will post -0.55 earnings per share for the current year.

Icahn Enterprises Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 16th. Investors 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 21.05%. Icahn Enterprises’s dividend payout ratio (DPR) is currently -210.53%.

Hedge Funds Weigh In On Icahn Enterprises

Hedge funds have recently made changes to their positions in the stock. Wilmington Savings Fund Society FSB acquired a new position in shares of Icahn Enterprises in the 3rd quarter valued at $30,000. Mpwm Advisory Solutions LLC acquired a new position in shares of Icahn Enterprises in the 4th quarter valued at $37,000. Global Retirement Partners LLC boosted its holdings in shares of 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 purchasing an additional 1,089 shares during the last quarter. Caz Investments LP acquired a new position in shares of Icahn Enterprises in the 4th quarter valued at $87,000. Finally, BNP Paribas Financial Markets boosted its holdings in shares of Icahn Enterprises by 40,056.0% in the 4th quarter. BNP Paribas Financial Markets now owns 10,039 shares of the conglomerate’s stock valued at $87,000 after purchasing an additional 10,014 shares during the last quarter. Institutional investors and hedge funds own 87.09% of the company’s stock.

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.