Icahn Enterprises (NASDAQ:IEP) Sets New 1-Year Low – Here’s Why

Icahn Enterprises L.P. (NASDAQ:IEP)’s share price reached a new 52-week low during trading on Monday. The company traded as low as $4.97 and last traded at $5.1150, with a volume of 822,794 shares changing hands. The stock had previously closed at $5.19.

Icahn Enterprises News Summary

Here are the key news stories impacting Icahn Enterprises this week:

• Positive Sentiment: Indicative net asset value increased by $865 million from the prior quarter to approximately $3.5 billion as of September 30. IEP also received $645 million from the sale of Pep Boys, adding liquidity. Third-quarter results Long-term investor takeaways
• Neutral Sentiment: IEP declared a quarterly distribution of $0.50 per unit, equivalent to $2 annually and a reported 37.4% yield. The high yield may attract income-focused investors, but its sustainability is a key consideration. Dividend analysis
• Neutral Sentiment: CVR Energy announced a $4.2 billion acquisition of two refineries and a $750 million share offering to help fund it. The deal could affect IEP through its investment in CVR, though the offering also carries potential dilution for CVR shareholders. CVR Energy offering
• Negative Sentiment: IEP reported a loss of $0.31 per unit, missing the $0.09 consensus estimate, despite revenue of $3.17 billion beating forecasts. Coverage highlighted a $522 million hedge loss, a significant drag on results and a likely source of pressure on the stock. Earnings analysis

Analyst Upgrades and Downgrades

Separately, Weiss Ratings downgraded Icahn Enterprises from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, October 16th. One analyst has rated the stock with a Sell rating. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Sell”.

Icahn Enterprises Stock Up 3.7%

The business has a fifty day simple moving average of $6.56 and a two-hundred day simple moving average of $7.39. 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 company has a market cap of $3.80 billion, a PE ratio of -7.23 and a beta of 0.74.

Icahn Enterprises (NASDAQ:IEP) last released its earnings results on Wednesday, November 4th. The conglomerate reported ($0.31) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.40). The business had revenue of $3.17 billion for the quarter, compared to analysts’ expectations of $2.33 billion. Icahn Enterprises had a negative return on equity of 17.99% and a negative net margin of 4.81%.

Icahn Enterprises Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 23rd. Investors of record on Monday, November 16th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 37.4%. The ex-dividend date of this dividend is Monday, November 16th. Icahn Enterprises’s dividend payout ratio is currently -270.27%.

Institutional Trading of Icahn Enterprises

Hedge funds have recently bought and sold shares of the business. First Trust Advisors LP grew its position in shares of Icahn Enterprises by 2.7% in the first 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 in the last quarter. Bank of America Corp DE increased 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 purchasing an additional 81,637 shares during the last quarter. MGO One Seven LLC lifted its position in Icahn Enterprises by 20.9% during the third quarter. MGO One Seven LLC now owns 110,019 shares of the conglomerate’s stock worth $743,000 after buying an additional 18,995 shares in the last quarter. Oppenheimer & Co. Inc. lifted its position in Icahn Enterprises by 88.2% during the third quarter. Oppenheimer & Co. Inc. now owns 43,513 shares of the conglomerate’s stock worth $294,000 after buying an additional 20,395 shares in the last quarter. Finally, Next Level Private LLC purchased a new position in Icahn Enterprises during the second quarter worth approximately $289,000. Institutional investors and hedge funds own 87.09% of the company’s stock.

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.