Icahn Enterprises (NASDAQ:IEP) Shares Break Below Two Hundred Day Moving Average – Here’s What Happened

Icahn Enterprises L.P. (NASDAQ:IEP) shares crossed below its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of $7.45 and traded as low as $6.74. Icahn Enterprises shares last traded at $6.75, with a volume of 966,473 shares.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Icahn Enterprises in a report on Wednesday, July 8th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, Icahn Enterprises has a consensus rating of “Sell”.

Icahn Enterprises Trading Down 1.5%

The business’s 50 day simple moving average is $7.11 and its 200-day simple moving average is $7.44. The stock has a market capitalization of $4.74 billion, a P/E ratio of -9.01 and a beta of 0.77. The company has a debt-to-equity ratio of 2.98, a current ratio of 2.87 and a quick ratio of 2.87.

Icahn Enterprises (NASDAQ:IEP) last issued its earnings results on Wednesday, August 5th. The conglomerate reported ($0.52) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.63). The company had revenue of $2.98 billion for the quarter, compared to the consensus estimate of $2.04 billion. Icahn Enterprises had a negative return on equity of 17.99% and a negative net margin of 4.81%.

Icahn Enterprises Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 23rd. Stockholders of record on Monday, August 17th were paid a dividend of $0.50 per share. The ex-dividend date was Monday, August 17th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 30.0%. Icahn Enterprises’s dividend payout ratio is currently -270.27%.

Institutional Investors Weigh In On Icahn Enterprises

Hedge funds and other institutional investors have recently modified their holdings of the company. Western Wealth Management LLC acquired a new stake in shares of Icahn Enterprises during the 1st quarter worth $47,000. Ancora Advisors LLC acquired a new position in Icahn Enterprises during the 2nd quarter worth approximately $73,000. Paragon Capital Management Ltd bought a new position in Icahn Enterprises in the 2nd quarter valued at approximately $74,000. Hilton Head Capital Partners LLC bought a new position in Icahn Enterprises in the 4th quarter valued at approximately $80,000. Finally, Kestra Advisory Services LLC grew its stake in shares of Icahn Enterprises by 208.9% during the first quarter. Kestra Advisory Services LLC now owns 14,279 shares of the conglomerate’s stock worth $108,000 after buying an additional 9,657 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. is a diversified holding company and master limited partnership controlled by investor Carl C. Icahn. The company invests in and operates businesses across multiple industries, with activities ranging from wholly owned operating companies to investments in publicly traded and privately held securities.

Its business areas have included investment management through Icahn Capital, automotive services, energy, metals, food packaging, real estate, and home fashion. The company’s operating businesses have included automotive dealerships and parts distribution, energy and refining activities, metal recycling and processing, packaging products, and real estate investments.