Icahn Enterprises (NASDAQ:IEP) Shares Pass Below 200 Day Moving Average – Should You Sell?

Shares of Icahn Enterprises L.P. (NASDAQ:IEP) passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $8.66 and traded as low as $8.25. Icahn Enterprises shares last traded at $8.25, with a volume of 714,029 shares trading hands.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on IEP shares. Zacks Research upgraded Icahn Enterprises from a “strong sell” rating to a “hold” rating in a research report on Friday, August 15th. Weiss Ratings restated a “sell (d-)” rating on shares of Icahn Enterprises in a research report on Saturday, September 27th. Finally, Wall Street Zen upgraded Icahn Enterprises from a “sell” rating to a “hold” rating in a research report on Friday, September 5th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Reduce”.

Icahn Enterprises Stock Performance

The company has a debt-to-equity ratio of 1.96, a current ratio of 3.40 and a quick ratio of 3.40. The firm has a fifty day moving average price of $8.59 and a two-hundred day moving average price of $8.66. The stock has a market capitalization of $4.73 billion, a PE ratio of -6.71 and a beta of 0.79.

Icahn Enterprises (NASDAQ:IEP) last issued its quarterly earnings results on Monday, August 4th. The conglomerate reported ($0.30) earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.44). Icahn Enterprises had a negative return on equity of 15.65% and a negative net margin of 6.78%.The business had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $2.39 billion. Research analysts expect that Icahn Enterprises L.P. will post -0.55 EPS for the current year.

Icahn Enterprises Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 24th. Investors of record on Monday, August 18th were paid a $0.50 dividend. The ex-dividend date of this dividend was Monday, August 18th. This represents a $2.00 annualized dividend and a yield of 24.2%. Icahn Enterprises’s dividend payout ratio is -162.60%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Allworth Financial LP grew its stake in Icahn Enterprises by 408.6% in the second quarter. Allworth Financial LP now owns 5,269 shares of the conglomerate’s stock worth $42,000 after purchasing an additional 4,233 shares in the last quarter. Spire Wealth Management grew its stake in Icahn Enterprises by 57.1% in the first quarter. Spire Wealth Management now owns 5,500 shares of the conglomerate’s stock worth $50,000 after purchasing an additional 2,000 shares in the last quarter. Claro Advisors LLC bought a new position in Icahn Enterprises in the second quarter worth approximately $85,000. Caz Investments LP grew its stake in Icahn Enterprises by 12.5% in the second quarter. Caz Investments LP now owns 11,254 shares of the conglomerate’s stock worth $91,000 after purchasing an additional 1,254 shares in the last quarter. Finally, Summit Securities Group LLC grew its stake in Icahn Enterprises by 187.6% in the first quarter. Summit Securities Group LLC now owns 10,300 shares of the conglomerate’s stock worth $93,000 after purchasing an additional 6,719 shares in the last quarter. Institutional investors own 87.09% of the company’s stock.

About Icahn Enterprises

Icahn Enterprises L.P., through its subsidiaries, engages in the investment, energy, automotive, food packaging, real estate, home fashion, and pharma businesses in the United States and Internationally. The Investment segment invests its proprietary capital through various private investment funds. This segment provides investment advisory and other related services.