Icahn Enterprises (NASDAQ:IEP) Sets New 1-Year Low - Time to Sell?

Key Points

• Icahn Enterprises shares fell to a new 52-week low of $6.51, down 1.9%, with the price below both its 50-day and 200-day moving averages.
• Analyst sentiment is strongly negative: Weiss Ratings downgraded the stock from “sell (d-)” to “sell (e+),” while MarketBeat reports an average rating of “Sell.”
• The company missed quarterly earnings expectations, reporting a loss of $0.52 per share versus estimates for $0.11 in earnings. Although it offers a high 30.7% dividend yield, its payout ratio is deeply negative at -270.27%, raising concerns about dividend sustainability.

Shares of Icahn Enterprises L.P. (NASDAQ:IEP - Get Free Report) hit a new 52-week low on Monday. The stock traded as low as $6.51 and last traded at $6.5150, with a volume of 651,882 shares trading hands. The stock had previously closed at $6.65.

Wall Street Analyst Weigh In

Separately, Weiss Ratings lowered Icahn Enterprises from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Friday. One equities research analyst has rated the stock with a Sell rating. Based on data from MarketBeat.com, the stock has an average rating of "Sell".

Icahn Enterprises Stock Down 1.9%

The company has a quick ratio of 2.87, a current ratio of 2.87 and a debt-to-equity ratio of 2.98. The firm has a 50-day moving average of $6.89 and a two-hundred day moving average of $7.36. The stock has a market capitalization of $4.64 billion, a price-to-earnings ratio of -8.82 and a beta of 0.77.

Icahn Enterprises (NASDAQ:IEP - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The conglomerate reported ($0.52) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.11 by ($0.63). The company had revenue of $2.98 billion during the quarter, compared to analysts' expectations of $2.04 billion. Icahn Enterprises had a negative return on equity of 17.99% and a negative net margin of 4.81%.

Icahn Enterprises Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 23rd. Investors of record on Monday, August 17th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 30.7%. The ex-dividend date was Monday, August 17th. Icahn Enterprises's dividend payout ratio (DPR) is currently -270.27%.

Institutional Trading of Icahn Enterprises

Institutional investors have recently bought and sold shares of the company. Bank of America Corp DE raised its stake in shares of Icahn Enterprises by 301.4% during the 1st quarter. Bank of America Corp DE now owns 108,724 shares of the conglomerate's stock worth $821,000 after purchasing an additional 81,637 shares in the last quarter. Triumph Capital Management grew its stake in shares of Icahn Enterprises by 13.1% in the 2nd quarter. Triumph Capital Management now owns 16,435 shares of the conglomerate's stock valued at $118,000 after buying an additional 1,900 shares in the last quarter. Ancora Advisors LLC acquired a new position in Icahn Enterprises in the second quarter worth approximately $73,000. Next Level Private LLC acquired a new position in Icahn Enterprises in the second quarter worth approximately $289,000. Finally, Western Wealth Management LLC acquired a new position in shares of Icahn Enterprises during the 1st quarter worth $47,000. Institutional investors and hedge funds own 87.09% of the company's stock.

Icahn Enterprises Company Profile

Icahn Enterprises L.P. is a diversified holding company and master limited partnership controlled by investor Carl C. Icahn. The company invests in and operates businesses across multiple industries, with activities ranging from wholly owned operating companies to investments in publicly traded and privately held securities.

Its business areas have included investment management through Icahn Capital, automotive services, energy, metals, food packaging, real estate, and home fashion. The company's operating businesses have included automotive dealerships and parts distribution, energy and refining activities, metal recycling and processing, packaging products, and real estate investments.

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