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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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