Icahn Enterprises (NASDAQ:IEP) Downgraded by StockNews.com

StockNews.com lowered shares of Icahn Enterprises (NASDAQ:IEP) from a buy rating to a hold rating in a research report sent to investors on Thursday morning.

Icahn Enterprises Stock Performance

NASDAQ IEP traded down $0.05 during trading on Thursday, reaching $17.98. 772,376 shares of the company’s stock were exchanged, compared to its average volume of 556,546. The company has a current ratio of 4.62, a quick ratio of 5.70 and a debt-to-equity ratio of 1.17. Icahn Enterprises has a fifty-two week low of $15.00 and a fifty-two week high of $36.39. The company’s fifty day simple moving average is $17.46 and its 200-day simple moving average is $17.76.

Icahn Enterprises (NASDAQ:IEP) last posted its quarterly earnings results on Wednesday, February 28th. The conglomerate reported ($0.33) EPS for the quarter, missing the consensus estimate of $0.21 by ($0.54). Icahn Enterprises had a negative return on equity of 7.04% and a negative net margin of 4.30%. The company had revenue of $2.68 billion for the quarter, compared to analyst estimates of $2.73 billion. On average, research analysts expect that Icahn Enterprises will post 0.93 EPS for the current year.

Icahn Enterprises Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 25th. Shareholders of record on Monday, May 20th will be issued a dividend of $1.00 per share. The ex-dividend date is Friday, May 17th. This represents a $4.00 annualized dividend and a yield of 22.25%. Icahn Enterprises’s dividend payout ratio (DPR) is currently -347.82%.

Institutional Trading of Icahn Enterprises

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. International Assets Investment Management LLC increased its stake in Icahn Enterprises by 1,623.0% during the fourth quarter. International Assets Investment Management LLC now owns 334,483 shares of the conglomerate’s stock valued at $5,750,000 after acquiring an additional 315,070 shares during the period. BNP Paribas Financial Markets increased its stake in Icahn Enterprises by 76.4% during the first quarter. BNP Paribas Financial Markets now owns 314,888 shares of the conglomerate’s stock valued at $5,356,000 after acquiring an additional 136,418 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in Icahn Enterprises by 621.0% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 270,995 shares of the conglomerate’s stock valued at $4,610,000 after acquiring an additional 233,410 shares during the period. Jump Financial LLC bought a new position in Icahn Enterprises during the fourth quarter valued at about $2,675,000. Finally, Fishman Jay A Ltd. MI increased its stake in Icahn Enterprises by 14.1% during the third quarter. Fishman Jay A Ltd. MI now owns 150,768 shares of the conglomerate’s stock valued at $2,982,000 after acquiring an additional 18,661 shares during the period. Institutional investors and hedge funds own 87.09% of the company’s stock.

Icahn Enterprises Company Profile

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.