Icahn Enterprises (NASDAQ:IEP) Sets New 1-Year Low – Time to Sell?

Shares of Icahn Enterprises L.P. (NASDAQ:IEP) hit a new 52-week low on Monday. The company traded as low as $6.51 and last traded at $6.5150, with a volume of 651,882 shares changing hands. The stock had previously closed at $6.65.

Analyst Ratings Changes

Separately, Weiss Ratings lowered shares of Icahn Enterprises from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday. One investment analyst has rated the stock with a Sell rating. According to MarketBeat, the company presently has an average rating of “Sell”.

Icahn Enterprises Stock Down 1.9%

The business’s 50-day moving average is $6.89 and its 200-day moving average is $7.36. The company has a debt-to-equity ratio of 2.98, a quick ratio of 2.87 and a current ratio of 2.87. The firm has a market cap of $4.64 billion, a price-to-earnings ratio of -8.82 and a beta of 0.77.

Icahn Enterprises (NASDAQ:IEP) last issued its quarterly earnings results on Wednesday, August 5th. The conglomerate reported ($0.52) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.63). Icahn Enterprises had a negative net margin of 4.81% and a negative return on equity of 17.99%. The firm had revenue of $2.98 billion for the quarter, compared to analyst estimates of $2.04 billion.

Icahn Enterprises Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 23rd. Investors of record on Monday, August 17th were given a $0.50 dividend. The ex-dividend date was Monday, August 17th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 30.7%. Icahn Enterprises’s dividend payout ratio (DPR) is presently -270.27%.

Hedge Funds Weigh In On Icahn Enterprises

A number of hedge funds have recently bought and sold shares of the company. Western Wealth Management LLC bought a new position in shares of Icahn Enterprises in the 1st quarter worth $47,000. Ancora Advisors LLC bought a new stake in shares of Icahn Enterprises during the second quarter valued at about $73,000. Paragon Capital Management Ltd bought a new position in shares of Icahn Enterprises in the second quarter worth approximately $74,000. Kestra Advisory Services LLC increased its stake in Icahn Enterprises by 208.9% in the first quarter. Kestra Advisory Services LLC now owns 14,279 shares of the conglomerate’s stock valued at $108,000 after acquiring an additional 9,657 shares during the last quarter. Finally, Sankala Group LLC purchased a new stake in Icahn Enterprises during the fourth quarter valued at about $109,000. Institutional investors own 87.09% of the company’s stock.

About Icahn Enterprises

Icahn Enterprises L.P. is a diversified holding company and master limited partnership controlled by investor Carl C. Icahn. The company invests in and operates businesses across multiple industries, with activities ranging from wholly owned operating companies to investments in publicly traded and privately held securities.

Its business areas have included investment management through Icahn Capital, automotive services, energy, metals, food packaging, real estate, and home fashion. The company’s operating businesses have included automotive dealerships and parts distribution, energy and refining activities, metal recycling and processing, packaging products, and real estate investments.