Icahn Enterprises (NASDAQ:IEP) Share Price Crosses Below 200 Day Moving Average - Should You Sell?

Icahn Enterprises L.P. (NASDAQ:IEP - Get Free Report)'s share price passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $9.57 and traded as low as $8.35. Icahn Enterprises shares last traded at $8.36, with a volume of 630,490 shares traded.

Analyst Ratings Changes

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

Icahn Enterprises Price Performance

The company has a market capitalization of $4.61 billion, a P/E ratio of -7.75 and a beta of 0.79. The firm's fifty day moving average is $8.66 and its 200 day moving average is $9.44. 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 (NASDAQ:IEP - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The conglomerate reported ($0.79) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.19 by ($0.98). The business had revenue of $2 billion for the quarter, compared to the consensus estimate of $2.63 billion. Icahn Enterprises had a negative net margin of 4.79% and a negative return on equity of 8.82%. As a group, analysts predict that Icahn Enterprises L.P. will post -0.55 earnings per share for the current fiscal year.

Icahn Enterprises Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 25th. Investors of record on Monday, May 19th will be given a dividend of $0.50 per share. The ex-dividend date is Monday, May 19th. This represents a $2.00 annualized dividend and a yield of 23.67%. Icahn Enterprises's dividend payout ratio is presently -121.21%.

Institutional Trading of Icahn Enterprises

Several institutional investors have recently modified their holdings of the stock. Raymond James Financial Inc. purchased a new stake in shares of Icahn Enterprises in the 4th quarter valued at approximately $969,000. Virtu Financial LLC purchased a new stake in shares of Icahn Enterprises in the 4th quarter valued at approximately $856,000. Icahn Carl C increased its position in shares of 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 purchasing an additional 17,581,237 shares during the last quarter. First Trust Advisors LP grew its position in shares of Icahn Enterprises by 26.2% in the 4th quarter. First Trust Advisors LP now owns 660,077 shares of the conglomerate's stock valued at $5,723,000 after buying an additional 137,012 shares during the last quarter. Finally, Axxcess Wealth Management LLC purchased a new position in shares of Icahn Enterprises in the 4th quarter valued at $447,000. Institutional investors and hedge funds 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.