Icahn Enterprises (NASDAQ:IEP) announced its quarterly earnings data on Thursday. The conglomerate reported ($0.16) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.91 by ($1.07), MarketWatch Earnings reports. Icahn Enterprises had a net margin of 6.84% and a return on equity of 10.19%. The business had revenue of $2.69 billion during the quarter.
Shares of IEP stock traded up $0.74 during midday trading on Friday, reaching $69.74. 82,103 shares of the company traded hands, compared to its average volume of 85,943. Icahn Enterprises has a 1-year low of $51.01 and a 1-year high of $81.88. 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 company has a market cap of $13.55 billion, a price-to-earnings ratio of 10.69 and a beta of 1.32.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 18th. Shareholders of record on Monday, November 12th will be issued a $1.75 dividend. This represents a $7.00 dividend on an annualized basis and a yield of 10.04%. The ex-dividend date of this dividend is Thursday, November 8th.
Hedge funds have recently bought and sold shares of the company. Lee Financial Co acquired a new position in shares of Icahn Enterprises during the 3rd quarter worth approximately $151,000. Commonwealth Equity Services LLC raised its position in shares of Icahn Enterprises by 8.7% during the 3rd quarter. Commonwealth Equity Services LLC now owns 19,431 shares of the conglomerate’s stock worth $1,374,000 after purchasing an additional 1,563 shares during the last quarter. Janney Montgomery Scott LLC raised its position in shares of Icahn Enterprises by 12.6% during the 3rd quarter. Janney Montgomery Scott LLC now owns 8,378 shares of the conglomerate’s stock worth $592,000 after purchasing an additional 935 shares during the last quarter. Private Advisor Group LLC acquired a new position in shares of Icahn Enterprises during the 3rd quarter worth approximately $385,000. Finally, Moody National Bank Trust Division raised its position in shares of Icahn Enterprises by 20.7% during the 3rd quarter. Moody National Bank Trust Division now owns 11,100 shares of the conglomerate’s stock worth $785,000 after purchasing an additional 1,900 shares during the last quarter. Institutional investors own 96.66% of the company’s stock.
Separately, BidaskClub lowered Icahn Enterprises from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 25th.
About Icahn Enterprises
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.
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