Icahn Enterprises (NASDAQ:IEP) Stock Passes Below Two Hundred Day Moving Average – Should You Sell?

Shares of Icahn Enterprises L.P. (NASDAQ:IEP) passed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $12.98 and traded as low as $9.50. Icahn Enterprises shares last traded at $9.85, with a volume of 830,706 shares.

Icahn Enterprises Price Performance

The company has a debt-to-equity ratio of 1.34, a current ratio of 4.61 and a quick ratio of 4.61. The firm has a market cap of $4.94 billion, a price-to-earnings ratio of -8.99 and a beta of 0.80. The stock has a 50-day moving average price of $9.92 and a 200 day moving average price of $12.91.

Icahn Enterprises (NASDAQ:IEP) last released its quarterly earnings results on Friday, November 8th. The conglomerate reported $0.05 EPS for the quarter, missing the consensus estimate of $0.21 by ($0.16). The firm had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.32 billion. Icahn Enterprises had a negative return on equity of 8.82% and a negative net margin of 4.79%. During the same period last year, the firm earned ($0.01) EPS. As a group, equities research analysts forecast that Icahn Enterprises L.P. will post -0.55 earnings per share for the current fiscal year.

Icahn Enterprises Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 26th. Investors of record on Monday, November 18th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 20.41%. The ex-dividend date was Monday, November 18th. Icahn Enterprises’s dividend payout ratio is currently -183.48%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Wilmington Savings Fund Society FSB acquired a new stake in shares of Icahn Enterprises in the third quarter valued at about $30,000. Planning Capital Management Corp purchased a new position in Icahn Enterprises in the third quarter valued at about $34,000. Northwestern Mutual Wealth Management Co. lifted its position in shares of Icahn Enterprises by 61.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,845 shares of the conglomerate’s stock valued at $47,000 after acquiring an additional 1,083 shares during the period. Barclays PLC boosted its stake in shares of Icahn Enterprises by 24.3% during the 3rd quarter. Barclays PLC now owns 7,307 shares of the conglomerate’s stock worth $100,000 after acquiring an additional 1,427 shares in the last quarter. Finally, KPP Advisory Services LLC acquired a new stake in shares of Icahn Enterprises in the 2nd quarter worth approximately $187,000. 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.