Icahn Enterprises (NASDAQ:IEP) Rating Increased to Hold at Wall Street Zen

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

Icahn Enterprises Stock Performance

Shares of IEP stock traded down $0.02 during trading hours on Friday, reaching $8.47. 1,026,873 shares of the company traded hands, compared to its average volume of 948,280. Icahn Enterprises has a 12-month low of $7.27 and a 12-month high of $17.93. The company has a debt-to-equity ratio of 1.34, a current ratio of 4.61 and a quick ratio of 4.61. The company has a market cap of $4.63 billion, a P/E ratio of -7.77 and a beta of 0.79. The firm has a 50-day moving average price of $8.81 and a 200 day moving average price of $9.68.

Icahn Enterprises (NASDAQ:IEP - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The conglomerate reported ($0.79) earnings per share for the quarter, missing analysts' consensus estimates of $0.19 by ($0.98). Icahn Enterprises had a negative net margin of 4.79% and a negative return on equity of 8.82%. The company had revenue of $2 billion for the quarter, compared to analysts' expectations of $2.63 billion. As a group, sell-side analysts predict 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, June 25th. Investors of record on Monday, May 19th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Monday, May 19th. This represents a $2.00 dividend on an annualized basis and a yield of 23.61%. Icahn Enterprises's dividend payout ratio is presently -121.21%.

Institutional Trading of Icahn Enterprises

A number of large investors have recently added to or reduced their stakes in IEP. Mpwm Advisory Solutions LLC purchased a new position in Icahn Enterprises during the 4th quarter valued at $37,000. Spire Wealth Management boosted its holdings in Icahn Enterprises by 57.1% during 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 period. Global Retirement Partners LLC boosted its holdings in Icahn Enterprises by 18.1% during the 4th quarter. Global Retirement Partners LLC now owns 7,122 shares of the conglomerate's stock valued at $62,000 after acquiring an additional 1,089 shares during the period. Caz Investments LP purchased a new position in Icahn Enterprises during the 4th quarter valued at $87,000. Finally, BNP Paribas Financial Markets boosted its holdings 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 valued at $87,000 after acquiring an additional 10,014 shares during the period. 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.