Icahn Enterprises (NASDAQ:IEP) Share Price Crosses Below 200-Day Moving Average – Here’s What Happened

Icahn Enterprises L.P. (NASDAQ:IEP) crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $7.97 and traded as low as $7.55. Icahn Enterprises shares last traded at $7.64, with a volume of 637,239 shares.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on IEP. Wall Street Zen downgraded shares of Icahn Enterprises from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Icahn Enterprises in a research note on Monday, December 29th. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Icahn Enterprises currently has a consensus rating of “Reduce”.

Icahn Enterprises Trading Up 1.2%

The company has a current ratio of 4.17, a quick ratio of 4.17 and a debt-to-equity ratio of 1.93. The stock has a 50-day simple moving average of $7.85 and a 200 day simple moving average of $7.97. The company has a market cap of $4.87 billion, a price-to-earnings ratio of -12.73 and a beta of 0.82.

Icahn Enterprises (NASDAQ:IEP) last announced its quarterly earnings data on Wednesday, February 25th. The conglomerate reported $0.00 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.17). Icahn Enterprises had a negative net margin of 2.98% and a negative return on equity of 8.22%. The firm had revenue of $2.70 billion during the quarter, compared to analyst estimates of $2.46 billion. As a group, equities research analysts predict that Icahn Enterprises L.P. will post -0.55 EPS for the current fiscal year.

Icahn Enterprises Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Monday, March 9th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 26.2%. The ex-dividend date is Monday, March 9th. Icahn Enterprises’s dividend payout ratio is -333.33%.

Institutional Trading of Icahn Enterprises

Several institutional investors and hedge funds have recently bought and sold shares of the business. Kestra Advisory Services LLC acquired a new stake in shares of Icahn Enterprises in the fourth quarter worth $35,000. Hilton Head Capital Partners LLC purchased a new position in shares of Icahn Enterprises during the fourth quarter worth $80,000. Azzad Asset Management Inc. ADV acquired a new position in Icahn Enterprises during the third quarter valued at $88,000. Caz Investments LP lifted its position in Icahn Enterprises by 12.5% during the second quarter. Caz Investments LP now owns 11,254 shares of the conglomerate’s stock valued at $91,000 after purchasing an additional 1,254 shares during the period. Finally, Merit Financial Group LLC boosted its holdings in Icahn Enterprises by 12.7% in the fourth quarter. Merit Financial Group LLC now owns 13,021 shares of the conglomerate’s stock valued at $98,000 after purchasing an additional 1,464 shares during the last quarter. 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.