Icahn Enterprises (NASDAQ:IEP) Trading Up 3.1% – Here’s What Happened

Icahn Enterprises L.P. (NASDAQ:IEP)’s stock price was up 3.1% on Friday . The stock traded as high as $7.61 and last traded at $7.60. Approximately 653,233 shares traded hands during mid-day trading, a decline of 20% from the average daily volume of 816,794 shares. The stock had previously closed at $7.37.

Analyst Ratings Changes

A number of brokerages have commented on IEP. Weiss Ratings reiterated a “sell (d-)” rating on shares of Icahn Enterprises in a research note on Monday, December 15th. 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 given a Sell rating to the company’s stock. Based on data from MarketBeat, Icahn Enterprises has a consensus rating of “Reduce”.

Icahn Enterprises Stock Performance

The company’s fifty day simple moving average is $8.04 and its two-hundred day simple moving average is $8.41. The company has a debt-to-equity ratio of 1.96, a quick ratio of 4.24 and a current ratio of 4.24. The stock has a market capitalization of $4.56 billion, a P/E ratio of -9.62 and a beta of 0.81.

Icahn Enterprises (NASDAQ:IEP) last posted its earnings results on Wednesday, November 5th. The conglomerate reported $0.49 EPS for the quarter, beating the consensus estimate of $0.14 by $0.35. The company had revenue of $2.73 billion for 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%. As a group, equities analysts forecast that Icahn Enterprises L.P. will post -0.55 EPS for the current year.

Icahn Enterprises Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 24th. Shareholders of record on Monday, November 17th were given a dividend of $0.50 per share. The ex-dividend date was Monday, November 17th. This represents a $2.00 annualized dividend and a yield of 26.3%. Icahn Enterprises’s dividend payout ratio (DPR) is presently -253.16%.

Hedge Funds Weigh In On Icahn Enterprises

Several institutional investors and hedge funds have recently modified their holdings of IEP. Mariner LLC raised its stake in Icahn Enterprises by 184.5% in the 3rd quarter. Mariner LLC now owns 52,687 shares of the conglomerate’s stock worth $444,000 after purchasing an additional 34,170 shares in the last quarter. Icahn Carl C increased its holdings in shares of Icahn Enterprises by 4.9% during the third 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 during the period. 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 worth $957,000 after purchasing an additional 5,848 shares during the period. Virtu Financial LLC raised its position in shares of Icahn Enterprises by 193.3% in the third quarter. Virtu Financial LLC now owns 57,584 shares of the conglomerate’s stock valued at $485,000 after buying an additional 37,953 shares in the last quarter. Finally, UBS Group AG boosted 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 valued at $1,006,000 after buying an additional 10,786 shares during the period. 87.09% of the stock is currently owned by institutional investors and hedge funds.

About Icahn Enterprises

Icahn Enterprises L.P. (NASDAQ: IEP) is a diversified holding company based in New York City. Controlled by veteran investor Carl C. Icahn, the partnership makes strategic investments and owns wholly or partially controlled subsidiaries across a broad range of industries. With a flexible capital structure, Icahn Enterprises seeks to generate long-term value through active ownership, asset optimization and operational improvements.

The company reports its activities through five principal business segments.