Icahn Enterprises (NASDAQ:IEP) Shares Pass Below 200 Day Moving Average - Here's Why

Key Points

• Icahn Enterprises shares fell below their 200-day moving average, trading as low as $6.74 versus the average of $7.59, and last changing hands at $6.81.
• Analyst sentiment remains negative: Weiss Ratings reiterated a “sell (D-)” rating, and MarketBeat data shows the stock has an average rating of “Sell.” The company also reported a quarterly loss of $0.52 per share, missing estimates by $0.63.
• Icahn Enterprises declared a quarterly dividend of $0.50 per share, implying a 29.4% yield, but its dividend payout ratio is deeply negative at -270.27%, highlighting potential sustainability concerns.

Shares of Icahn Enterprises L.P. (NASDAQ:IEP - Get Free Report) crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $7.59 and traded as low as $6.74. Icahn Enterprises shares last traded at $6.81, with a volume of 490,345 shares.

Wall Street Analyst Weigh In

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

Icahn Enterprises Trading Up 0.1%

The firm has a fifty day moving average of $7.32 and a two-hundred day moving average of $7.59. The company has a market cap of $4.84 billion, a PE ratio of -9.20 and a beta of 0.79. The company has a current ratio of 2.87, a quick ratio of 2.87 and a debt-to-equity ratio of 2.98.

Icahn Enterprises (NASDAQ:IEP - Get Free Report) last issued its earnings results on Wednesday, August 5th. The conglomerate reported ($0.52) earnings per share for the quarter, missing analysts' consensus estimates of $0.11 by ($0.63). The business had revenue of $2.98 billion for the quarter, compared to the consensus estimate 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 Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 23rd. Investors of record on Monday, August 17th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Monday, August 17th. This represents a $2.00 annualized dividend and a yield of 29.4%. Icahn Enterprises's dividend payout ratio (DPR) is -270.27%.

Institutional Investors Weigh In On Icahn Enterprises

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Kestra Advisory Services LLC purchased a new position in shares of Icahn Enterprises in the fourth quarter valued at $35,000. Western Wealth Management LLC purchased a new stake in Icahn Enterprises during the 1st quarter worth about $47,000. Ancora Advisors LLC purchased a new stake in Icahn Enterprises during the 2nd quarter worth about $73,000. Hilton Head Capital Partners LLC bought a new position in Icahn Enterprises in the 4th quarter worth about $80,000. Finally, Caz Investments LP boosted its stake in Icahn Enterprises by 12.5% in the 2nd quarter. Caz Investments LP now owns 11,254 shares of the conglomerate's stock worth $91,000 after purchasing an additional 1,254 shares during the period. 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 based in New York City. Controlled by veteran investor Carl C. Icahn, the partnership makes strategic investments and owns wholly or partially controlled subsidiaries across a broad range of industries. With a flexible capital structure, Icahn Enterprises seeks to generate long-term value through active ownership, asset optimization and operational improvements.

The company reports its activities through five principal business segments.

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