StockNews.com Upgrades Icahn Enterprises (NASDAQ:IEP) to Hold

StockNews.com upgraded shares of Icahn Enterprises (NASDAQ:IEP) from a sell rating to a hold rating in a research note published on Wednesday morning.

Icahn Enterprises Trading Down 1.0 %

IEP stock opened at $9.21 on Wednesday. The firm has a market cap of $4.81 billion, a PE ratio of -8.45 and a beta of 0.85. The firm has a fifty day moving average price of $9.74 and a 200 day moving average price of $11.02. The company has a debt-to-equity ratio of 1.34, a quick ratio of 4.61 and a current ratio of 4.61. Icahn Enterprises has a fifty-two week low of $8.53 and a fifty-two week high of $19.10.

Icahn Enterprises (NASDAQ:IEP) last posted its earnings results on Wednesday, February 26th. The conglomerate reported ($0.19) earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.36). Icahn Enterprises had a negative return on equity of 8.82% and a negative net margin of 4.79%. The business had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.27 billion. Sell-side analysts anticipate that Icahn Enterprises will post -0.55 earnings per share for the current fiscal year.

Icahn Enterprises Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 16th. Stockholders of record on Monday, March 10th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 21.72%. The ex-dividend date of this dividend is Monday, March 10th. Icahn Enterprises’s dividend payout ratio (DPR) is -210.53%.

Institutional Trading of Icahn Enterprises

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Meridian Wealth Management LLC increased its position in Icahn Enterprises by 5.1% during the fourth quarter. Meridian Wealth Management LLC now owns 21,171 shares of the conglomerate’s stock valued at $184,000 after acquiring an additional 1,026 shares during the last quarter. Global Retirement Partners LLC boosted its stake in shares of Icahn Enterprises by 18.1% during the 4th quarter. Global Retirement Partners LLC now owns 7,122 shares of the conglomerate’s stock worth $62,000 after purchasing an additional 1,089 shares during the period. Barclays PLC grew its holdings in Icahn Enterprises by 24.3% during the 3rd quarter. Barclays PLC now owns 7,307 shares of the conglomerate’s stock valued at $100,000 after purchasing an additional 1,427 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in Icahn Enterprises during the 3rd quarter valued at about $30,000. Finally, National Bank of Canada FI raised its position in Icahn Enterprises by 12.5% in the 3rd quarter. National Bank of Canada FI now owns 22,500 shares of the conglomerate’s stock worth $304,000 after purchasing an additional 2,500 shares during the period. Hedge funds and other institutional investors 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.