Icahn Enterprises L.P. (NASDAQ:IEP) Declares Quarterly Dividend of $0.50

Icahn Enterprises L.P. (NASDAQ:IEP) announced a quarterly dividend on Wednesday, August 5th. Stockholders of record on Monday, August 17th will be given a dividend of 0.50 per share by the conglomerate on Wednesday, September 23rd. This represents a c) annualized dividend and a dividend yield of 26.8%. The ex-dividend date is Monday, August 17th.

Icahn Enterprises has decreased its dividend by an average of 0.2%per year over the last three years. Icahn Enterprises has a payout ratio of 253.2% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.

Icahn Enterprises Price Performance

Shares of Icahn Enterprises stock opened at $7.46 on Thursday. The stock has a market cap of $5.01 billion, a price-to-earnings ratio of -14.35 and a beta of 0.79. The company has a debt-to-equity ratio of 2.72, a quick ratio of 2.67 and a current ratio of 2.67. The stock has a 50 day moving average price of $7.45 and a 200-day moving average price of $7.71. Icahn Enterprises has a one year low of $7.08 and a one year high of $9.52.

Icahn Enterprises (NASDAQ:IEP) last released its quarterly earnings results on Wednesday, August 5th. The conglomerate reported ($0.52) earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.63). Icahn Enterprises had a negative net margin of 3.24% and a negative return on equity of 10.27%. The company had revenue of $2.98 billion for the quarter, compared to analysts’ expectations of $2.04 billion.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Icahn Enterprises in a research report on Wednesday, July 8th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce”.

About Icahn Enterprises

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.