Icahn Enterprises (NASDAQ:IEP) Cut to Hold at Wall Street Zen

Wall Street Zen downgraded shares of Icahn Enterprises (NASDAQ:IEP) from a buy rating to a hold rating in a research report sent to investors on Saturday.

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Icahn Enterprises in a report on Monday, December 29th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Icahn Enterprises presently has a consensus rating of “Reduce”.

Icahn Enterprises Stock Performance

NASDAQ:IEP opened at $8.11 on Friday. The company has a market cap of $5.17 billion, a P/E ratio of -13.52 and a beta of 0.81. The firm’s 50 day moving average is $7.83 and its two-hundred day moving average is $8.08. Icahn Enterprises has a fifty-two week low of $7.08 and a fifty-two week high of $10.41. The company has a quick ratio of 4.17, a current ratio of 4.17 and a debt-to-equity ratio of 1.93.

Icahn Enterprises (NASDAQ:IEP) last released its quarterly earnings data on Wednesday, February 25th. The conglomerate reported $0.00 EPS for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.17). Icahn Enterprises had a negative return on equity of 8.22% and a negative net margin of 2.98%.The firm had revenue of $2.70 billion for the quarter, compared to analyst estimates of $2.46 billion. Analysts expect that Icahn Enterprises will post -0.55 EPS for the current year.

Icahn Enterprises Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Monday, March 9th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 24.7%. The ex-dividend date is Monday, March 9th. Icahn Enterprises’s dividend payout ratio is currently -333.33%.

Institutional Investors Weigh In On Icahn Enterprises

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Kestra Advisory Services LLC acquired a new position in shares of Icahn Enterprises in the fourth quarter worth about $35,000. Allworth Financial LP lifted its holdings 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 acquiring an additional 4,233 shares during the last quarter. Hilton Head Capital Partners LLC acquired a new stake in shares of Icahn Enterprises during the 4th quarter worth approximately $80,000. Claro Advisors LLC bought a new stake in shares of Icahn Enterprises in the 2nd quarter worth approximately $85,000. Finally, Azzad Asset Management Inc. ADV acquired a new position in Icahn Enterprises during the 3rd quarter valued at approximately $88,000. Hedge funds and other institutional investors own 87.09% of the company’s stock.

About Icahn Enterprises

Icahn Enterprises L.P. (NASDAQ: IEP) is a diversified holding company based in New York City. Controlled by veteran investor Carl C. Icahn, the partnership makes strategic investments and owns wholly or partially controlled subsidiaries across a broad range of industries. With a flexible capital structure, Icahn Enterprises seeks to generate long-term value through active ownership, asset optimization and operational improvements.

The company reports its activities through five principal business segments.