Icahn Enterprises (NASDAQ:IEP) Stock Price Down 2.8%

Icahn Enterprises L.P. (NASDAQ:IEP) shares fell 2.8% during mid-day trading on Monday . The stock traded as low as $15.38 and last traded at $15.44. 169,479 shares changed hands during trading, a decline of 76% from the average session volume of 711,191 shares. The stock had previously closed at $15.89.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered Icahn Enterprises from a “buy” rating to a “hold” rating in a report on Thursday, May 9th.

Icahn Enterprises Stock Down 2.5 %

The stock has a market cap of $6.09 billion, a P/E ratio of -12.03 and a beta of 0.80. The company has a current ratio of 4.62, a quick ratio of 4.62 and a debt-to-equity ratio of 1.17. The firm’s fifty day moving average is $16.58 and its 200 day moving average is $17.29.

Icahn Enterprises (NASDAQ:IEP) last announced its earnings results on Wednesday, August 7th. The conglomerate reported ($0.72) earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.91). Icahn Enterprises had a negative net margin of 4.30% and a negative return on equity of 7.04%. The business had revenue of $2.36 billion for the quarter, compared to the consensus estimate of $2.24 billion. During the same quarter in the previous year, the company earned ($0.72) EPS. As a group, equities research analysts forecast that Icahn Enterprises L.P. will post 0.53 EPS for the current year.

Icahn Enterprises Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 25th. Shareholders of record on Monday, August 19th will be issued a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 29.65%. The ex-dividend date of this dividend is Monday, August 19th. Icahn Enterprises’s dividend payout ratio (DPR) is presently -347.83%.

Institutional Trading of Icahn Enterprises

Hedge funds have recently modified their holdings of the company. Spire Wealth Management lifted its holdings in shares of Icahn Enterprises by 100.0% during the 1st quarter. Spire Wealth Management now owns 2,000 shares of the conglomerate’s stock worth $34,000 after acquiring an additional 1,000 shares during the period. Parallel Advisors LLC lifted its stake in Icahn Enterprises by 133.0% during the fourth quarter. Parallel Advisors LLC now owns 2,006 shares of the conglomerate’s stock worth $34,000 after purchasing an additional 1,145 shares during the period. Northwestern Mutual Wealth Management Co. lifted its stake in Icahn Enterprises by 61.5% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,845 shares of the conglomerate’s stock worth $47,000 after purchasing an additional 1,083 shares during the period. Pacific Capital Wealth Advisors Inc. bought a new stake in shares of Icahn Enterprises in the 4th quarter valued at approximately $86,000. Finally, Newbridge Financial Services Group Inc. raised its holdings in shares of Icahn Enterprises by 35.1% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 8,579 shares of the conglomerate’s stock worth $147,000 after buying an additional 2,227 shares in the last quarter. Institutional investors own 87.09% of the company’s stock.

About Icahn Enterprises

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.