Icahn Enterprises (NASDAQ:IEP) Stock Rating Lowered by 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 lowered shares of Icahn Enterprises (NASDAQ:IEP - Free Report) from a hold rating to a sell rating in a report published on Saturday.

Icahn Enterprises Price Performance

IEP stock traded down $0.1850 during trading on Friday, reaching $8.3850. The company's stock had a trading volume of 800,321 shares, compared to its average volume of 767,292. The company's fifty day moving average is $8.87 and its 200-day moving average is $9.02. Icahn Enterprises has a 1 year low of $7.27 and a 1 year high of $16.00. The company has a market capitalization of $4.81 billion, a P/E ratio of -6.82 and a beta of 0.78. The company has a quick ratio of 3.40, a current ratio of 3.40 and a debt-to-equity ratio of 1.96.

Icahn Enterprises (NASDAQ:IEP - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The conglomerate reported ($0.30) EPS for the quarter, missing the consensus estimate of $0.14 by ($0.44). Icahn Enterprises had a negative net margin of 6.78% and a negative return on equity of 15.65%. The company had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.39 billion. On average, research analysts expect that Icahn Enterprises will post -0.55 earnings per share for the current fiscal year.

Icahn Enterprises Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 24th. Investors of record on Monday, August 18th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Monday, August 18th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 23.9%. Icahn Enterprises's dividend payout ratio (DPR) is presently -162.60%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in IEP. Mpwm Advisory Solutions LLC bought a new position in shares of Icahn Enterprises in the 4th quarter valued at about $37,000. Allworth Financial LP lifted its holdings in shares of Icahn Enterprises by 408.6% in the 2nd quarter. Allworth Financial LP now owns 5,269 shares of the conglomerate's stock valued at $42,000 after acquiring an additional 4,233 shares during the last quarter. Spire Wealth Management lifted its holdings in shares of 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 acquiring an additional 2,000 shares during the last quarter. Claro Advisors LLC bought a new position in shares of Icahn Enterprises in the 2nd quarter valued at about $85,000. Finally, BNP Paribas Financial Markets lifted its holdings in shares of Icahn Enterprises by 40,056.0% in the 4th quarter. BNP Paribas Financial Markets now owns 10,039 shares of the conglomerate's stock valued at $87,000 after acquiring an additional 10,014 shares during the last quarter. Institutional investors own 87.09% of the company's stock.

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.