Icahn Enterprises (NASDAQ:IEP) Stock Price Passes Below Two Hundred Day Moving Average – Here’s Why

Icahn Enterprises L.P. (NASDAQ:IEP)’s stock price crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $8.46 and traded as low as $7.62. Icahn Enterprises shares last traded at $7.68, with a volume of 763,024 shares changing hands.

Analyst Ratings Changes

IEP has been the subject of a number of recent analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Icahn Enterprises in a research report on Monday. Wall Street Zen raised shares of Icahn Enterprises from a “hold” rating to a “buy” rating in a report on Saturday, November 22nd. One equities 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 company currently has a consensus rating of “Reduce”.

Icahn Enterprises Stock Up 0.4%

The firm has a 50-day moving average of $8.14 and a two-hundred day moving average of $8.46. The company has a quick ratio of 4.24, a current ratio of 4.24 and a debt-to-equity ratio of 1.96. The stock has a market capitalization of $4.61 billion, a price-to-earnings ratio of -9.72 and a beta of 0.81.

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

Icahn Enterprises Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 24th. Investors of record on Monday, November 17th will be paid a dividend of $0.50 per share. The ex-dividend date is Monday, November 17th. This represents a $2.00 annualized dividend and a yield of 26.0%. Icahn Enterprises’s dividend payout ratio is presently -253.16%.

Institutional Investors Weigh In On Icahn Enterprises

A number of institutional investors have recently added to or reduced their stakes in IEP. Allworth Financial LP increased its stake in Icahn Enterprises by 408.6% in the second quarter. Allworth Financial LP now owns 5,269 shares of the conglomerate’s stock valued at $42,000 after acquiring an additional 4,233 shares during the period. Claro Advisors LLC bought a new stake in shares of Icahn Enterprises in the 2nd quarter valued at approximately $85,000. Azzad Asset Management Inc. ADV acquired a new position in shares of Icahn Enterprises in the 3rd quarter worth approximately $88,000. Caz Investments LP lifted its position in shares of Icahn Enterprises by 12.5% during the 2nd quarter. Caz Investments LP now owns 11,254 shares of the conglomerate’s stock worth $91,000 after buying an additional 1,254 shares during the period. Finally, EagleClaw Capital Managment LLC bought a new position in shares of Icahn Enterprises during the 2nd quarter worth approximately $93,000. 87.09% of the stock is owned by institutional investors and hedge funds.

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.