Icahn Enterprises L.P. (IEP) to Issue Quarterly Dividend of $0.50 on December 23rd

Icahn Enterprises L.P. (NASDAQ:IEP) announced a quarterly dividend on Monday, November 2nd. Stockholders of record on Monday, November 16th will be given a dividend of $0.50 per share by the conglomerate on Wednesday, December 23rd. This represents a $2.00 annualized dividend and a dividend yield of 37.4%. The ex-dividend date of this dividend is Monday, November 16th.

Icahn Enterprises has decreased its dividend payment by an average of 0.2% annually over the last three years. Icahn Enterprises has a dividend payout ratio of 253.2% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.

Icahn Enterprises Stock Performance

Shares of IEP stock opened at $5.35 on Wednesday. The firm’s 50 day moving average is $6.56 and its 200 day moving average is $7.39. The stock has a market capitalization of $3.80 billion, a P/E ratio of -7.23 and a beta of 0.74. Icahn Enterprises has a 12 month low of $4.97 and a 12 month high of $9.32. The company has a current ratio of 2.87, a quick ratio of 2.87 and a debt-to-equity ratio of 2.98.

Icahn Enterprises (NASDAQ:IEP) last released its quarterly earnings data on Wednesday, November 4th. The conglomerate reported ($0.31) earnings per share 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 4.81% and a negative return on equity of 17.99%.

Wall Street Analysts Forecast Growth

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

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.