Icahn Enterprises (NASDAQ:IEP) Lowered to “Strong Sell” at BidaskClub

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BidaskClub downgraded shares of Icahn Enterprises (NASDAQ:IEP) from a sell rating to a strong sell rating in a report published on Saturday morning, BidAskClub reports.

IEP has been the topic of several other reports. ValuEngine raised Icahn Enterprises from a hold rating to a buy rating in a research report on Monday, October 21st. UBS Group cut their target price on Icahn Enterprises from $56.00 to $55.00 and set a sell rating on the stock in a research report on Thursday, August 29th.

Shares of IEP traded down $0.01 on Friday, reaching $67.35. The stock had a trading volume of 191,300 shares, compared to its average volume of 84,466. Icahn Enterprises has a twelve month low of $50.33 and a twelve month high of $79.37. The firm has a 50-day moving average of $67.02 and a 200 day moving average of $70.67. The company has a debt-to-equity ratio of 0.76, a quick ratio of 6.54 and a current ratio of 6.54.

Icahn Enterprises (NASDAQ:IEP) last issued its earnings results on Tuesday, November 5th. The conglomerate reported ($0.24) earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.68). The firm had revenue of $2.32 billion during the quarter. Icahn Enterprises had a negative return on equity of 11.19% and a net margin of 0.02%.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, November 15th will be given a $2.00 dividend. This represents a $8.00 annualized dividend and a dividend yield of 11.88%. The ex-dividend date of this dividend is Thursday, November 14th.

Several institutional investors and hedge funds have recently modified their holdings of IEP. Arlington Partners LLC purchased a new position in shares of Icahn Enterprises in the 2nd quarter worth $538,000. Strategic Wealth Management Inc. purchased a new position in shares of Icahn Enterprises in the 2nd quarter worth $2,879,000. NEXT Financial Group Inc raised its position in shares of Icahn Enterprises by 123.1% in the 2nd quarter. NEXT Financial Group Inc now owns 1,450 shares of the conglomerate’s stock worth $105,000 after buying an additional 800 shares during the period. OLD Second National Bank of Aurora raised its position in shares of Icahn Enterprises by 92.3% in the 2nd quarter. OLD Second National Bank of Aurora now owns 702 shares of the conglomerate’s stock worth $51,000 after buying an additional 337 shares during the period. Finally, Commonwealth Equity Services LLC raised its position in shares of Icahn Enterprises by 18.6% in the 2nd quarter. Commonwealth Equity Services LLC now owns 28,599 shares of the conglomerate’s stock worth $2,070,000 after buying an additional 4,493 shares during the period. 96.83% of the stock is currently owned by institutional investors and hedge funds.

Icahn Enterprises Company Profile

Icahn Enterprises L.P., through its subsidiaries, operates in investment, energy, automotive, food packaging, metals, real estate, home fashion, and mining businesses in the United States and Internationally. Its Investment segment operates various private investment funds. The company's Automotive segment is involved in the retail and wholesale distribution of automotive parts in the aftermarket, as well as offers automotive repair and maintenance services.

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