Icahn Enterprises (IEP) Announces Quarterly Earnings Results

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Icahn Enterprises (NASDAQ:IEP) announced its quarterly earnings results on Thursday. The conglomerate reported ($0.16) EPS for the quarter, missing the consensus estimate of $0.91 by ($1.07), MarketWatch Earnings reports. The company had revenue of $2.69 billion during the quarter. Icahn Enterprises had a return on equity of 10.19% and a net margin of 6.84%.

Shares of NASDAQ IEP traded up $0.74 during mid-day trading on Friday, hitting $69.74. 82,103 shares of the company’s stock traded hands, compared to its average volume of 85,943. The company has a current ratio of 5.49, a quick ratio of 5.49 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $13.55 billion, a price-to-earnings ratio of 10.69 and a beta of 1.32. Icahn Enterprises has a 1 year low of $51.01 and a 1 year high of $81.88.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 18th. Stockholders of record on Monday, November 12th will be given a dividend of $1.75 per share. This represents a $7.00 annualized dividend and a dividend yield of 10.04%. The ex-dividend date of this dividend is Thursday, November 8th.

Several hedge funds and other institutional investors have recently made changes to their positions in IEP. California Public Employees Retirement System raised its position in shares of Icahn Enterprises by 79.0% during the 2nd quarter. California Public Employees Retirement System now owns 25,615 shares of the conglomerate’s stock valued at $1,820,000 after buying an additional 11,303 shares in the last quarter. Baldwin Investment Management LLC purchased a new stake in shares of Icahn Enterprises during the 2nd quarter valued at about $631,000. Bank of Montreal Can purchased a new stake in shares of Icahn Enterprises during the 3rd quarter valued at about $617,000. Commonwealth Equity Services LLC raised its position in shares of Icahn Enterprises by 74.0% during the 2nd quarter. Commonwealth Equity Services LLC now owns 17,868 shares of the conglomerate’s stock valued at $1,270,000 after buying an additional 7,600 shares in the last quarter. Finally, Centaurus Financial Inc. purchased a new stake in shares of Icahn Enterprises during the 2nd quarter valued at about $502,000. Hedge funds and other institutional investors own 96.66% of the company’s stock.

Separately, BidaskClub cut shares of Icahn Enterprises from a “buy” rating to a “hold” rating in a research report on Thursday, September 6th.

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Icahn Enterprises Company Profile

Icahn Enterprises L.P., through its subsidiaries, operates in investment, automotive, energy, railcar, gaming, metals, mining, food packaging, real estate, and home fashion businesses in the United States, Germany, and Internationally. Its Investment segment operates various private investment funds.

Further Reading: What is an Initial Public Offering (IPO)?

Earnings History for Icahn Enterprises (NASDAQ:IEP)

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