Icahn Enterprises (NASDAQ:IEP) Downgraded by StockNews.com to “Sell”

StockNews.com lowered shares of Icahn Enterprises (NASDAQ:IEP) from a hold rating to a sell rating in a research report report published on Friday morning.

Icahn Enterprises Price Performance

Shares of IEP opened at $10.09 on Friday. Icahn Enterprises has a 52-week low of $8.53 and a 52-week high of $20.25. The firm has a market capitalization of $5.09 billion, a PE ratio of -9.26 and a beta of 0.81. The company has a debt-to-equity ratio of 1.34, a quick ratio of 4.61 and a current ratio of 4.61. The stock has a 50 day simple moving average of $9.58 and a 200 day simple moving average of $11.73.

Icahn Enterprises (NASDAQ:IEP) last announced its quarterly earnings data on Wednesday, February 26th. The conglomerate reported ($0.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.36). Icahn Enterprises had a negative return on equity of 8.82% and a negative net margin of 4.79%. The company had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.27 billion. Sell-side analysts predict that Icahn Enterprises will post -0.55 EPS for the current fiscal year.

Icahn Enterprises Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 16th. Shareholders of record on Monday, March 10th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 19.82%. The ex-dividend date is Monday, March 10th. Icahn Enterprises’s dividend payout ratio is -183.49%.

Institutional Trading of Icahn Enterprises

Large investors have recently modified their holdings of the stock. Wilmington Savings Fund Society FSB acquired a new stake in shares of Icahn Enterprises during the 3rd quarter worth $30,000. Planning Capital Management Corp acquired a new stake in Icahn Enterprises in the third quarter valued at about $34,000. Mpwm Advisory Solutions LLC acquired a new stake in Icahn Enterprises in the fourth quarter valued at about $37,000. Global Retirement Partners LLC boosted its stake in Icahn Enterprises by 18.1% in the fourth quarter. Global Retirement Partners LLC now owns 7,122 shares of the conglomerate’s stock valued at $62,000 after buying an additional 1,089 shares in the last quarter. Finally, Caz Investments LP acquired a new stake in Icahn Enterprises in the fourth quarter valued at about $87,000. 87.09% of the stock is owned by institutional investors and hedge funds.

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.