Icahn Enterprises (NASDAQ:IEP) Cut to Sell at StockNews.com

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

Icahn Enterprises Stock Down 1.5 %

Shares of IEP stock opened at $9.50 on Friday. Icahn Enterprises has a twelve month low of $8.53 and a twelve month high of $19.10. The stock has a market cap of $4.97 billion, a P/E ratio of -8.72 and a beta of 0.85. The stock has a 50 day moving average of $9.69 and a 200 day moving average of $11.14. The company has a current ratio of 4.61, a quick ratio of 4.61 and a debt-to-equity ratio of 1.34.

Icahn Enterprises (NASDAQ:IEP) last released its quarterly 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). Icahn Enterprises had a negative net margin of 4.79% and a negative return on equity of 8.82%. The firm had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.27 billion. As a group, sell-side analysts expect that Icahn Enterprises will post -0.55 EPS for the current year.

Icahn Enterprises Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 16th. Stockholders of record on Monday, March 10th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 21.05%. The ex-dividend date is Monday, March 10th. Icahn Enterprises’s payout ratio is -210.53%.

Institutional Investors Weigh In On Icahn Enterprises

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

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.