Icahn Enterprises (NASDAQ:IEP) Upgraded at StockNews.com

StockNews.com upgraded shares of Icahn Enterprises (NASDAQ:IEP) from a sell rating to a hold rating in a report published on Saturday.

Icahn Enterprises Trading Up 0.8%

Shares of IEP opened at $9.75 on Friday. Icahn Enterprises has a 12 month low of $7.27 and a 12 month high of $17.93. The stock’s 50-day moving average is $8.86 and its two-hundred day moving average is $9.77. The company has a debt-to-equity ratio of 1.34, a current ratio of 4.61 and a quick ratio of 4.61. The stock has a market cap of $5.32 billion, a PE ratio of -8.94 and a beta of 0.79.

Icahn Enterprises (NASDAQ:IEP) last released its quarterly earnings results on Wednesday, May 7th. The conglomerate reported ($0.79) EPS for the quarter, missing the consensus estimate of $0.19 by ($0.98). 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 billion for the quarter, compared to analyst estimates of $2.63 billion. Equities analysts forecast that Icahn Enterprises will post -0.55 earnings per share for the current fiscal year.

Icahn Enterprises Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 25th. Investors of record on Monday, May 19th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 20.51%. The ex-dividend date is Monday, May 19th. Icahn Enterprises’s dividend payout ratio (DPR) is -121.21%.

Hedge Funds Weigh In On Icahn Enterprises

A number of institutional investors and hedge funds have recently added to or reduced their stakes in IEP. Icahn Carl C lifted its stake in shares of Icahn Enterprises by 4.1% in the fourth quarter. Icahn Carl C now owns 450,788,170 shares of the conglomerate’s stock worth $3,908,333,000 after acquiring an additional 17,581,237 shares in the last quarter. First Trust Advisors LP increased its holdings in Icahn Enterprises by 26.2% during the 4th quarter. First Trust Advisors LP now owns 660,077 shares of the conglomerate’s stock worth $5,723,000 after purchasing an additional 137,012 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Icahn Enterprises in the 4th quarter valued at approximately $969,000. Virtu Financial LLC purchased a new position in shares of Icahn Enterprises during the 4th quarter valued at approximately $856,000. Finally, Axxcess Wealth Management LLC acquired a new stake in shares of Icahn Enterprises during the fourth quarter worth approximately $447,000. 87.09% of the stock is owned by hedge funds and other institutional investors.

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.