Icahn Enterprises (NASDAQ:IEP) Posts Earnings Results, Misses Estimates By $0.40 EPS

Icahn Enterprises (NASDAQ:IEP) issued its earnings results on Wednesday. The conglomerate reported ($0.31) EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.40), FiscalAI reports. Icahn Enterprises had a negative return on equity of 18.16% and a negative net margin of 9.25%. The company had revenue of $3.17 billion for the quarter, compared to analysts’ expectations of $2.33 billion.

Icahn Enterprises Stock Performance

Shares of Icahn Enterprises stock opened at $5.36 on Thursday. The company has a market capitalization of $3.81 billion, a PE ratio of -3.48 and a beta of 0.74. The company has a 50-day simple moving average of $6.53 and a two-hundred day simple moving average of $7.38. Icahn Enterprises has a one year low of $4.97 and a one year high of $9.32. The company has a debt-to-equity ratio of 2.98, a quick ratio of 2.87 and a current ratio of 2.87.

Icahn Enterprises Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 23rd. Shareholders of record on Monday, November 16th will be issued a $0.50 dividend. The ex-dividend date is Monday, November 16th. This represents a $2.00 dividend on an annualized basis and a yield of 37.3%. Icahn Enterprises’s payout ratio is currently -270.27%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings cut Icahn Enterprises from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, October 16th. One equities research analyst has rated the stock with a Sell rating. According to MarketBeat.com, the company has an average rating of “Sell”.

About Icahn Enterprises

Icahn Enterprises L.P. (NASDAQ:IEP) is a diversified holding company managed by Icahn Capital LP. Its activities include making investments in public and private companies, pursuing activist investment strategies, and owning and operating businesses across several industries. The company is controlled by investor Carl C. Icahn, who serves as its chairman.

Its operating businesses have included petroleum refining and the production of nitrogen fertilizers through CVR Energy and CVR Partners, automotive parts distribution and repair services through Icahn Automotive, food packaging through Viskase Companies, and metal recycling through PSC Metals.