Icahn Enterprises (NASDAQ:IEP) Rating Lowered to Sell at Wall Street Zen

Key Points

• Wall Street Zen has downgraded Icahn Enterprises from a "hold" to a "sell" rating, reflecting a pessimistic outlook on the stock.
• Icahn Enterprises reported a loss of $0.30 in earnings per share for the last quarter, significantly missing analysts' expectations of a $0.14 profit.
• Institutional investors currently own 87.09% of Icahn Enterprises' shares, indicating strong interest from large financial entities despite recent performance challenges.

Wall Street Zen downgraded shares of Icahn Enterprises (NASDAQ:IEP - Free Report) from a hold rating to a sell rating in a research report report published on Saturday morning.

Icahn Enterprises Stock Performance

Shares of NASDAQ IEP traded up $0.06 during trading hours on Friday, reaching $8.47. The stock had a trading volume of 727,097 shares, compared to its average volume of 875,978. The firm has a market cap of $4.86 billion, a price-to-earnings ratio of -6.89 and a beta of 0.78. The company has a current ratio of 3.40, a quick ratio of 3.40 and a debt-to-equity ratio of 1.96. Icahn Enterprises has a fifty-two week low of $7.27 and a fifty-two week high of $16.00. The firm has a 50-day moving average of $8.87 and a 200-day moving average of $9.01.

Icahn Enterprises (NASDAQ:IEP - Get Free Report) last announced its earnings results on Monday, August 4th. The conglomerate reported ($0.30) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.14 by ($0.44). The firm had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.39 billion. Icahn Enterprises had a negative net margin of 6.78% and a negative return on equity of 15.65%. Equities research analysts predict that Icahn Enterprises will post -0.55 earnings per share for the current year.

Icahn Enterprises Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 24th. Shareholders of record on Monday, August 18th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 23.6%. The ex-dividend date of this dividend is Monday, August 18th. Icahn Enterprises's dividend payout ratio (DPR) is presently -162.60%.

Institutional Trading of Icahn Enterprises

A number of hedge funds have recently added to or reduced their stakes in IEP. Mpwm Advisory Solutions LLC acquired a new stake in Icahn Enterprises during the 4th quarter worth approximately $37,000. Allworth Financial LP lifted its position in Icahn Enterprises by 408.6% during the 2nd quarter. Allworth Financial LP now owns 5,269 shares of the conglomerate's stock worth $42,000 after acquiring an additional 4,233 shares during the period. Spire Wealth Management lifted its position in Icahn Enterprises by 57.1% during the 1st quarter. Spire Wealth Management now owns 5,500 shares of the conglomerate's stock worth $50,000 after acquiring an additional 2,000 shares during the period. Claro Advisors LLC acquired a new stake in Icahn Enterprises during the 2nd quarter worth approximately $85,000. Finally, BNP Paribas Financial Markets lifted its position in Icahn Enterprises by 40,056.0% during the 4th quarter. BNP Paribas Financial Markets now owns 10,039 shares of the conglomerate's stock worth $87,000 after acquiring an additional 10,014 shares during the period. 87.09% of the stock is owned by institutional investors and hedge funds.

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.