Icahn Enterprises (NASDAQ:IEP) Upgraded at StockNews.com

StockNews.com upgraded shares of Icahn Enterprises (NASDAQ:IEP) from a sell rating to a hold rating in a report issued on Saturday.

Icahn Enterprises Stock Down 8.2 %

Shares of IEP opened at $9.18 on Friday. The company has a current ratio of 4.61, a quick ratio of 4.61 and a debt-to-equity ratio of 1.34. The stock has a market capitalization of $4.80 billion, a PE ratio of -8.42 and a beta of 0.85. The firm’s 50 day moving average is $9.66 and its 200-day moving average is $11.39. Icahn Enterprises has a 12 month low of $8.53 and a 12 month high of $19.10.

Icahn Enterprises (NASDAQ:IEP) last issued its quarterly earnings results on Wednesday, February 26th. The conglomerate reported ($0.19) EPS for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.36). The company had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.27 billion. Icahn Enterprises had a negative return on equity of 8.82% and a negative net margin of 4.79%. Equities research analysts forecast that Icahn Enterprises will post -0.55 EPS for the current year.

Icahn Enterprises Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 16th. Investors of record on Monday, March 10th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 21.79%. The ex-dividend date of this dividend is Monday, March 10th. Icahn Enterprises’s dividend payout ratio is -210.53%.

Institutional Trading of Icahn Enterprises

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Prime Capital Investment Advisors LLC grew its holdings in Icahn Enterprises by 6.4% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 14,203 shares of the conglomerate’s stock worth $192,000 after acquiring an additional 855 shares during the last quarter. Meridian Wealth Management LLC lifted its holdings in shares of Icahn Enterprises by 5.1% during the fourth quarter. Meridian Wealth Management LLC now owns 21,171 shares of the conglomerate’s stock worth $184,000 after purchasing an additional 1,026 shares during the period. Global Retirement Partners LLC grew its stake in shares of Icahn Enterprises by 18.1% in the fourth quarter. Global Retirement Partners LLC now owns 7,122 shares of the conglomerate’s stock worth $62,000 after purchasing an additional 1,089 shares during the last quarter. Barclays PLC increased its holdings in Icahn Enterprises by 24.3% in the third quarter. Barclays PLC now owns 7,307 shares of the conglomerate’s stock valued at $100,000 after purchasing an additional 1,427 shares during the period. Finally, Wilmington Savings Fund Society FSB bought a new position in Icahn Enterprises during the 3rd quarter worth $30,000. 87.09% of the stock is currently owned by institutional investors.

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.