Icahn Enterprises (NASDAQ:IEP) Reaches New 12-Month Low at $10.41

Icahn Enterprises L.P. (NASDAQ:IEP)’s share price reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $10.41 and last traded at $10.44, with a volume of 48299 shares. The stock had previously closed at $10.48.

Icahn Enterprises Stock Down 1.3 %

The company’s fifty day moving average is $15.75 and its 200-day moving average is $16.71. The company has a market capitalization of $4.52 billion, a PE ratio of -8.71 and a beta of 0.77. The company has a debt-to-equity ratio of 1.23, a quick ratio of 4.85 and a current ratio of 4.85.

Icahn Enterprises (NASDAQ:IEP) last released its earnings results on Wednesday, August 7th. The conglomerate reported ($0.72) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.91). The firm had revenue of $2.36 billion during the quarter, compared to analysts’ expectations of $2.24 billion. Icahn Enterprises had a negative return on equity of 8.62% and a negative net margin of 4.97%. During the same period in the prior year, the company posted ($0.72) earnings per share. As a group, analysts predict that Icahn Enterprises L.P. will post -0.42 EPS for the current fiscal year.

Icahn Enterprises Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 25th. Shareholders of record on Monday, August 19th will be paid a $1.00 dividend. The ex-dividend date of this dividend is Monday, August 19th. This represents a $4.00 annualized dividend and a yield of 39.92%. Icahn Enterprises’s payout ratio is -347.83%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Spire Wealth Management grew its holdings in shares of Icahn Enterprises by 100.0% in the first quarter. Spire Wealth Management now owns 2,000 shares of the conglomerate’s stock valued at $34,000 after purchasing an additional 1,000 shares in the last quarter. Parallel Advisors LLC grew its holdings in shares of Icahn Enterprises by 133.0% in the fourth quarter. Parallel Advisors LLC now owns 2,006 shares of the conglomerate’s stock valued at $34,000 after purchasing an additional 1,145 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted 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 buying an additional 1,083 shares during the period. Newbridge Financial Services Group Inc. boosted its stake in Icahn Enterprises by 35.1% during the fourth 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 during the period. Finally, Vima LLC purchased a new position in Icahn Enterprises during the fourth quarter worth $167,000. 87.09% of the stock is owned by hedge funds and other institutional investors.

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.