Icahn Enterprises (NASDAQ:IEP) Shares Cross Below 200 Day Moving Average - Should You Sell?

Key Points

• Icahn Enterprises shares fell below their 200-day moving average, trading near $7.05 versus the $7.53 technical benchmark, signaling recent weakness.
• Analysts remain bearish: Weiss Ratings reaffirmed a “sell (D-)” rating, and MarketBeat reports an average rating of “Sell.” The company also missed quarterly EPS estimates, reporting a $0.52 loss per share versus an expected $0.11 profit.
• IEP declared a $0.50 quarterly dividend, equivalent to a 28.4% annualized yield, but its payout ratio is deeply negative at -270.27%, reflecting potential concerns about dividend sustainability.

Icahn Enterprises L.P. (NASDAQ:IEP - Get Free Report) shares crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $7.53 and traded as low as $7.01. Icahn Enterprises shares last traded at $7.05, with a volume of 854,050 shares traded.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a "sell (d-)" rating on shares of Icahn Enterprises in a research note on Wednesday, July 8th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Icahn Enterprises presently has an average rating of "Sell".

Icahn Enterprises Stock Performance

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 company has a fifty day moving average price of $7.26 and a 200 day moving average price of $7.53. The stock has a market cap of $5.01 billion, a PE ratio of -9.53 and a beta of 0.79.

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 the consensus estimate of $0.11 by ($0.63). Icahn Enterprises had a negative return on equity of 17.99% and a negative net margin of 4.81%.The company had revenue of $2.98 billion for the quarter, compared to the consensus estimate of $2.04 billion.

Icahn Enterprises Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 23rd. Investors of record on Monday, August 17th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 28.4%. The ex-dividend date of this dividend is Monday, August 17th. Icahn Enterprises's payout ratio is presently -270.27%.

Institutional Investors Weigh In On Icahn Enterprises

Several institutional investors have recently added to or reduced their stakes in IEP. Triumph Capital Management grew its stake in shares of Icahn Enterprises by 13.1% in the second quarter. Triumph Capital Management now owns 16,435 shares of the conglomerate's stock worth $118,000 after purchasing an additional 1,900 shares during the last quarter. Royal Bank of Canada raised its position in Icahn Enterprises by 6.9% during the 1st quarter. Royal Bank of Canada now owns 32,804 shares of the conglomerate's stock valued at $248,000 after purchasing an additional 2,125 shares during the last quarter. Cetera Investment Advisers raised its position in Icahn Enterprises by 12.3% during the 1st quarter. Cetera Investment Advisers now owns 24,008 shares of the conglomerate's stock valued at $181,000 after purchasing an additional 2,622 shares during the last quarter. Western Wealth Management LLC purchased a new stake in Icahn Enterprises in the 1st quarter worth approximately $47,000. Finally, PFG Investments LLC lifted its holdings in Icahn Enterprises by 45.2% in the 1st quarter. PFG Investments LLC now owns 25,447 shares of the conglomerate's stock worth $192,000 after buying an additional 7,921 shares during the period. Hedge funds and other institutional investors own 87.09% of the company's stock.

Icahn Enterprises Company Profile

Icahn Enterprises L.P. NASDAQ: IEP is a diversified holding company controlled by investor Carl C. Icahn. The company manages investments and operating businesses across several industries, with its activities spanning energy, automotive, food packaging, metals, real estate, home fashion and other sectors.

Its operating interests include CVR Energy, which is involved in petroleum refining and the marketing of transportation fuels, and CVR Partners, a producer of nitrogen fertilizers. Icahn Enterprises also owns or invests in businesses involved in automotive parts distribution and service, food packaging products, textile and home-furnishing products, and metals recycling.

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