Icahn Enterprises (NASDAQ:IEP) Stock Rating Lowered by Wall Street Zen

Icahn Enterprises (NASDAQ:IEP) was downgraded by stock analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report issued on Saturday.

Icahn Enterprises Price Performance

NASDAQ:IEP opened at $9.40 on Friday. The company has a quick ratio of 3.40, a current ratio of 3.40 and a debt-to-equity ratio of 1.96. The stock’s 50 day moving average price is $8.86 and its two-hundred day moving average price is $9.04. The firm has a market capitalization of $5.39 billion, a price-to-earnings ratio of -7.64 and a beta of 0.78. Icahn Enterprises has a 12-month low of $7.27 and a 12-month high of $17.12.

Icahn Enterprises (NASDAQ:IEP) last released its quarterly earnings data on Monday, August 4th. The conglomerate reported ($0.30) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.44). The business had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.39 billion. Icahn Enterprises had a negative net margin of 6.78% and a negative return on equity of 15.65%. On average, analysts anticipate that Icahn Enterprises will post -0.55 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in IEP. Icahn Carl C increased its position in 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 buying an additional 17,581,237 shares during the period. First Trust Advisors LP increased its position in Icahn Enterprises by 22.1% during the 2nd quarter. First Trust Advisors LP now owns 884,514 shares of the conglomerate’s stock worth $7,116,000 after buying an additional 160,183 shares during the period. International Assets Investment Management LLC bought a new position in Icahn Enterprises during the 2nd quarter worth $1,382,000. Raymond James Financial Inc. bought a new position in Icahn Enterprises during the 4th quarter worth $969,000. Finally, Bank of America Corp DE increased its stake in Icahn Enterprises by 60.1% during the 2nd quarter. Bank of America Corp DE now owns 85,223 shares of the conglomerate’s stock worth $686,000 after acquiring an additional 32,007 shares during the period. Institutional investors 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.