Icahn Enterprises (NASDAQ:IEP) Cut to “Hold” at Wall Street Zen

Icahn Enterprises (NASDAQ:IEP) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Icahn Enterprises in a research report on Monday, December 29th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Reduce”.

Icahn Enterprises Trading Down 0.6%

Shares of NASDAQ:IEP opened at $8.06 on Friday. The business’s 50 day simple moving average is $7.81 and its 200 day simple moving average is $8.11. Icahn Enterprises has a 1 year low of $7.08 and a 1 year high of $10.41. The company has a debt-to-equity ratio of 1.96, a current ratio of 4.24 and a quick ratio of 4.24. The company has a market capitalization of $4.84 billion, a P/E ratio of -13.43 and a beta of 0.84.

Icahn Enterprises (NASDAQ:IEP) last released its earnings results 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). The company had revenue of $2.70 billion for the quarter, compared to the consensus estimate of $2.46 billion. Icahn Enterprises had a negative net margin of 2.98% and a negative return on equity of 8.16%. On average, research analysts anticipate that Icahn Enterprises will post -0.55 EPS for the current fiscal year.

Institutional Investors Weigh In On Icahn Enterprises

Institutional investors have recently made changes to their positions in the stock. Claro Advisors LLC purchased a new position in shares of Icahn Enterprises in the second quarter valued at $85,000. Allworth Financial LP grew its holdings in Icahn Enterprises by 408.6% during the 2nd quarter. Allworth Financial LP now owns 5,269 shares of the conglomerate’s stock valued at $42,000 after buying an additional 4,233 shares in the last quarter. PNC Financial Services Group Inc. increased its position in shares of Icahn Enterprises by 8.3% during the second quarter. PNC Financial Services Group Inc. now owns 30,678 shares of the conglomerate’s stock valued at $247,000 after buying an additional 2,350 shares during the period. EagleClaw Capital Managment LLC purchased a new stake in shares of Icahn Enterprises in the second quarter worth about $93,000. Finally, Meridian Wealth Management LLC boosted its position in shares of Icahn Enterprises by 12.8% in the second quarter. Meridian Wealth Management LLC now owns 23,888 shares of the conglomerate’s stock valued at $192,000 after acquiring an additional 2,717 shares during the period. Hedge funds and other institutional investors own 87.09% of the company’s stock.

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.