Icahn Enterprises (NASDAQ:IEP) Posts Quarterly Earnings Results, Misses Expectations By $0.44 EPS

Key Points

• Icahn Enterprises reported a quarterly earnings per share (EPS) of ($0.30), which missed the consensus estimate of $0.14 by $0.44.
• The company has a negative net margin of 8.55% and a negative return on equity of 17.64%.
• Shares of Icahn Enterprises opened at $8.98, reflecting a 1.6% decline following the earnings report.

Icahn Enterprises (NASDAQ:IEP - Get Free Report) announced its quarterly earnings results on Monday. The conglomerate reported ($0.30) earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.44), Zacks reports. The business had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.39 billion. Icahn Enterprises had a negative return on equity of 15.65% and a negative net margin of 6.78%.

Icahn Enterprises Trading Up 0.2%

Shares of NASDAQ IEP traded up $0.02 during trading hours on Friday, hitting $9.27. 635,536 shares of the company traded hands, compared to its average volume of 755,003. The company's 50 day moving average price is $8.76 and its 200 day moving average price is $9.06. Icahn Enterprises has a 12 month low of $7.27 and a 12 month high of $17.12. The stock has a market capitalization of $5.32 billion, a price-to-earnings ratio of -7.54 and a beta of 0.78. The company has a current ratio of 3.40, a quick ratio of 3.04 and a debt-to-equity ratio of 1.96.

Icahn Enterprises Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 24th. Stockholders of record on Monday, August 18th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, August 18th. This represents a $2.00 annualized dividend and a dividend yield of 21.6%. Icahn Enterprises's payout ratio is currently -162.60%.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded shares of Icahn Enterprises from a "sell" rating to a "hold" rating in a research report on Saturday, May 17th.

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.