Icahn Enterprises (NASDAQ:IEP) Stock Moved Down to “Sell” by Wall Street Zen

Wall Street Zen cut shares of Icahn Enterprises (NASDAQ:IEP) from a hold rating to a sell rating in a report issued on Saturday,Wall Street Zen reports.

Separately, Weiss Ratings cut shares of Icahn Enterprises from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, October 16th. One investment analyst has rated the stock with a Sell rating. According to MarketBeat, Icahn Enterprises currently has a consensus rating of “Sell”.

Icahn Enterprises Stock Down 7.4%

Shares of NASDAQ IEP opened at $4.75 on Friday. The company has a market capitalization of $3.60 billion, a price-to-earnings ratio of -3.08 and a beta of 0.74. The company has a debt-to-equity ratio of 2.98, a current ratio of 2.87 and a quick ratio of 2.87. The business has a 50-day moving average of $6.46 and a two-hundred day moving average of $7.35. Icahn Enterprises has a 1 year low of $4.73 and a 1 year high of $9.18.

Icahn Enterprises (NASDAQ:IEP) last released its quarterly earnings data on Tuesday, November 3rd. The conglomerate reported ($0.31) EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.40). The business had revenue of $3.17 billion during the quarter, compared to analysts’ expectations of $2.33 billion. Icahn Enterprises had a negative net margin of 9.25% and a negative return on equity of 18.16%.

Icahn Enterprises Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 23rd. Investors of record on Monday, November 16th will be given a $0.50 dividend. The ex-dividend date of this dividend is Monday, November 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 42.1%. Icahn Enterprises’s dividend payout ratio is -129.87%.

Institutional Investors Weigh In On Icahn Enterprises

Large investors have recently modified their holdings of the company. First Trust Advisors LP boosted its stake in Icahn Enterprises by 2.7% during the 1st quarter. First Trust Advisors LP now owns 804,009 shares of the conglomerate’s stock worth $6,070,000 after purchasing an additional 21,373 shares during the period. MGO One Seven LLC increased its stake in Icahn Enterprises by 20.9% in the third quarter. MGO One Seven LLC now owns 110,019 shares of the conglomerate’s stock valued at $743,000 after purchasing an additional 18,995 shares during the period. Bank of America Corp DE raised its holdings in shares of Icahn Enterprises by 301.4% in the first quarter. Bank of America Corp DE now owns 108,724 shares of the conglomerate’s stock valued at $821,000 after buying an additional 81,637 shares during the last quarter. Oppenheimer & Co. Inc. raised its holdings in shares of Icahn Enterprises by 88.2% in the third quarter. Oppenheimer & Co. Inc. now owns 43,513 shares of the conglomerate’s stock valued at $294,000 after buying an additional 20,395 shares during the last quarter. Finally, Next Level Private LLC purchased a new position in shares of Icahn Enterprises during the second quarter worth about $289,000. 87.09% of the stock is owned by institutional investors and hedge funds.

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.