Icahn Enterprises (NASDAQ:IEP) Share Price Crosses Below Two Hundred Day Moving Average – Time to Sell?

Icahn Enterprises L.P. (NASDAQ:IEP)’s stock price crossed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $8.49 and traded as low as $7.65. Icahn Enterprises shares last traded at $7.65, with a volume of 849,334 shares trading hands.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Wall Street Zen upgraded shares of Icahn Enterprises from a “hold” rating to a “buy” rating in a report on Saturday, November 22nd. Zacks Research upgraded Icahn Enterprises from a “strong sell” rating to a “hold” rating in a report on Friday, August 15th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Icahn Enterprises in a research report on Monday, December 1st. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce”.

Icahn Enterprises Trading Down 0.9%

The company has a current ratio of 4.24, a quick ratio of 4.24 and a debt-to-equity ratio of 1.96. The company has a market cap of $4.59 billion, a PE ratio of -9.68 and a beta of 0.81. The stock has a 50 day moving average price of $8.21 and a 200 day moving average price of $8.49.

Icahn Enterprises (NASDAQ:IEP) last posted its quarterly earnings data on Wednesday, November 5th. The conglomerate reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.35. The business had revenue of $2.73 billion during the quarter, compared to the consensus estimate of $2.40 billion. Icahn Enterprises had a negative return on equity of 10.13% and a negative net margin of 4.04%. Sell-side analysts predict that Icahn Enterprises L.P. will post -0.55 EPS for the current fiscal year.

Icahn Enterprises Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 24th. Investors of record on Monday, November 17th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 26.1%. The ex-dividend date of this dividend is Monday, November 17th. Icahn Enterprises’s dividend payout ratio (DPR) is -253.16%.

Hedge Funds Weigh In On Icahn Enterprises

Large investors have recently made changes to their positions in the business. Icahn Carl C boosted its position in shares of Icahn Enterprises by 4.9% in the 3rd quarter. Icahn Carl C now owns 518,932,944 shares of the conglomerate’s stock worth $4,369,415,000 after purchasing an additional 24,149,325 shares in the last quarter. First Trust Advisors LP boosted its holdings in Icahn Enterprises by 22.1% in the second quarter. First Trust Advisors LP now owns 884,514 shares of the conglomerate’s stock worth $7,116,000 after acquiring an additional 160,183 shares in the last quarter. International Assets Investment Management LLC bought a new stake in Icahn Enterprises in the second quarter worth $1,382,000. UBS Group AG grew its stake in shares of Icahn Enterprises by 9.9% in the third quarter. UBS Group AG now owns 119,509 shares of the conglomerate’s stock worth $1,006,000 after acquiring an additional 10,786 shares during the last quarter. Finally, Raymond James Financial Inc. increased its holdings in shares of Icahn Enterprises by 5.4% during the third quarter. Raymond James Financial Inc. now owns 113,712 shares of the conglomerate’s stock valued at $957,000 after acquiring an additional 5,848 shares in the last quarter. 87.09% of the stock is currently 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.