Icahn Enterprises (NASDAQ:IEP) Cut to “Sell” at Wall Street Zen

Wall Street Zen downgraded 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 downgraded shares of Icahn Enterprises from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, October 16th. One equities research analyst has rated the stock with a Sell rating. According to data from MarketBeat.com, the stock has a consensus rating of “Sell”.

Icahn Enterprises Trading Up 2.1%

NASDAQ IEP opened at $4.85 on Friday. The company has a current ratio of 2.87, a quick ratio of 2.87 and a debt-to-equity ratio of 2.98. The business has a fifty day simple moving average of $6.42 and a 200 day simple moving average of $7.33. Icahn Enterprises has a 12 month low of $4.73 and a 12 month high of $9.12. The firm has a market capitalization of $3.45 billion, a P/E ratio of -3.15 and a beta of 0.74.

Icahn Enterprises (NASDAQ:IEP) last posted its earnings results on Tuesday, November 3rd. The conglomerate reported ($0.31) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.40). Icahn Enterprises had a negative return on equity of 18.16% and a negative net margin of 9.25%. The firm had revenue of $3.17 billion during the quarter, compared to the consensus estimate of $2.33 billion.

Icahn Enterprises Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 23rd. Investors of record on Monday, November 16th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 41.2%. The ex-dividend date of this dividend is Monday, November 16th. Icahn Enterprises’s dividend payout ratio (DPR) is presently -129.87%.

Institutional Trading of Icahn Enterprises

A number of hedge funds have recently bought and sold shares of the business. First Trust Advisors LP grew its stake in Icahn Enterprises by 2.7% in the 1st quarter. First Trust Advisors LP now owns 804,009 shares of the conglomerate’s stock valued at $6,070,000 after purchasing an additional 21,373 shares during the period. Bank of America Corp DE raised its stake in shares of Icahn Enterprises by 301.4% during the 1st quarter. Bank of America Corp DE now owns 108,724 shares of the conglomerate’s stock worth $821,000 after purchasing an additional 81,637 shares during the period. MGO One Seven LLC raised its stake in shares of Icahn Enterprises by 20.9% during the 3rd quarter. MGO One Seven LLC now owns 110,019 shares of the conglomerate’s stock worth $743,000 after purchasing an additional 18,995 shares during the period. Oppenheimer & Co. Inc. raised its stake in shares of Icahn Enterprises by 88.2% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 43,513 shares of the conglomerate’s stock worth $294,000 after purchasing an additional 20,395 shares during the period. Finally, Next Level Private LLC purchased a new position in shares of Icahn Enterprises in the 2nd quarter worth about $289,000. 87.09% of the stock is currently owned by institutional investors.

Icahn Enterprises Company Profile

Icahn Enterprises L.P. is a diversified holding company that invests in and operates businesses across several industries. Its activities include energy, automotive services, food packaging, real estate and home fashion, alongside its investment operations.

The company conducts much of its business through subsidiaries and other controlled entities, including operations serving customers in the United States and international markets. Its roots date to 1987, when it was formed as American Real Estate Partners; it adopted the Icahn Enterprises name in 2007.

Carl Icahn is the company’s chairman and controlling unitholder.