Icahn Enterprises (NASDAQ:IEP) Shares Cross Below 200 Day Moving Average - Here's What Happened

Icahn Enterprises L.P. (NASDAQ:IEP - Get Free Report) crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $9.04 and traded as low as $8.82. Icahn Enterprises shares last traded at $9.36, with a volume of 1,707,419 shares changing hands.

Wall Street Analyst Weigh In

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

Icahn Enterprises Stock Down 0.2%

The company has a debt-to-equity ratio of 1.82, a quick ratio of 3.04 and a current ratio of 3.04. The stock has a 50 day moving average price of $8.59 and a 200 day moving average price of $9.03. The company has a market cap of $5.11 billion, a P/E ratio of -5.67 and a beta of 0.77.

Icahn Enterprises (NASDAQ:IEP - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The conglomerate reported ($0.79) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.98). The firm had revenue of $2 billion during the quarter, compared to analyst estimates of $2.63 billion. Icahn Enterprises had a negative net margin of 8.55% and a negative return on equity of 17.64%. Research analysts expect that Icahn Enterprises L.P. will post -0.55 earnings per share for the current fiscal year.

Icahn Enterprises Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 25th. Stockholders of record on Monday, May 19th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 21.39%. The ex-dividend date of this dividend was Monday, May 19th. Icahn Enterprises's dividend payout ratio is currently -121.21%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Janney Montgomery Scott LLC lifted its position in Icahn Enterprises by 164.0% in the first quarter. Janney Montgomery Scott LLC now owns 52,759 shares of the conglomerate's stock valued at $478,000 after acquiring an additional 32,772 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Icahn Enterprises during the 4th quarter valued at about $969,000. Virtu Financial LLC acquired a new stake in shares of Icahn Enterprises in the 4th quarter worth approximately $856,000. Icahn Carl C increased its stake in Icahn Enterprises by 4.1% in the 4th quarter. Icahn Carl C now owns 450,788,170 shares of the conglomerate's stock valued at $3,908,333,000 after buying an additional 17,581,237 shares during the period. Finally, Spire Wealth Management boosted its holdings in Icahn Enterprises by 57.1% in the 1st quarter. Spire Wealth Management now owns 5,500 shares of the conglomerate's stock valued at $50,000 after purchasing an additional 2,000 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.