Icahn Enterprises (NASDAQ:IEP) Sets New 52-Week Low – What’s Next?

Icahn Enterprises L.P. (NASDAQ:IEP)’s stock price hit a new 52-week low on Friday . The company traded as low as $8.45 and last traded at $8.44, with a volume of 1161820 shares changing hands. The stock had previously closed at $8.97.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of Icahn Enterprises from a “sell” rating to a “hold” rating in a report on Wednesday, March 26th.

Icahn Enterprises Stock Performance

The stock has a market cap of $4.31 billion, a P/E ratio of -7.57 and a beta of 0.85. The stock has a fifty day simple moving average of $9.66 and a 200-day simple moving average of $10.94. The company has a quick ratio of 4.61, a current ratio of 4.61 and a debt-to-equity ratio of 1.34.

Icahn Enterprises (NASDAQ:IEP) last issued its earnings results on Wednesday, February 26th. The conglomerate reported ($0.19) EPS for the quarter, missing the consensus estimate of $0.17 by ($0.36). The firm had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.27 billion. Icahn Enterprises had a negative net margin of 4.79% and a negative return on equity of 8.82%. Equities analysts expect that Icahn Enterprises L.P. will post -0.55 earnings per share for the current fiscal year.

Icahn Enterprises Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 16th. Stockholders of record on Monday, March 10th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 24.24%. The ex-dividend date is Monday, March 10th. Icahn Enterprises’s dividend payout ratio is -210.53%.

Institutional Trading of Icahn Enterprises

A number of institutional investors have recently modified their holdings of IEP. Mpwm Advisory Solutions LLC acquired a new stake in shares of Icahn Enterprises in the fourth quarter valued at about $37,000. BNP Paribas Financial Markets increased its position in shares of Icahn Enterprises by 40,056.0% during the 4th quarter. BNP Paribas Financial Markets now owns 10,039 shares of the conglomerate’s stock worth $87,000 after purchasing an additional 10,014 shares during the last quarter. Mercer Global Advisors Inc. ADV acquired a new position in shares of Icahn Enterprises during the 4th quarter worth approximately $105,000. Triumph Capital Management raised its stake in shares of Icahn Enterprises by 27.0% during the 4th quarter. Triumph Capital Management now owns 21,254 shares of the conglomerate’s stock worth $184,000 after purchasing an additional 4,521 shares in the last quarter. Finally, Icahn Carl C boosted its holdings in shares of Icahn Enterprises by 4.1% in the 4th quarter. Icahn Carl C now owns 450,788,170 shares of the conglomerate’s stock valued at $3,908,333,000 after buying an additional 17,581,237 shares during the last quarter. 87.09% of the stock is currently owned by institutional investors.

Icahn Enterprises Company Profile

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.