Icahn Enterprises (NASDAQ:IEP) Shares Gap Down – What’s Next?

Icahn Enterprises L.P. (NASDAQ:IEP)’s share price gapped down prior to trading on Monday . The stock had previously closed at $8.11, but opened at $7.62. Icahn Enterprises shares last traded at $7.60, with a volume of 434,819 shares traded.

Analyst Ratings Changes

IEP has been the topic of a number of research analyst reports. Weiss Ratings restated a “sell (e+)” rating on shares of Icahn Enterprises in a research report on Monday, December 29th. Wall Street Zen downgraded Icahn Enterprises from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Reduce”.

Icahn Enterprises Price Performance

The company has a debt-to-equity ratio of 1.93, a quick ratio of 4.17 and a current ratio of 4.17. The stock’s 50-day moving average is $7.89 and its two-hundred day moving average is $8.07. The stock has a market cap of $4.87 billion, a PE ratio of -12.73 and a beta of 0.81.

Icahn Enterprises (NASDAQ:IEP) last released its quarterly earnings results 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. On average, equities analysts predict that Icahn Enterprises L.P. will post -0.55 earnings per share for the current year.

Icahn Enterprises Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Monday, March 9th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, March 9th. This represents a $2.00 annualized dividend and a yield of 26.2%. Icahn Enterprises’s dividend payout ratio is presently -333.33%.

Institutional Trading of Icahn Enterprises

A number of institutional investors and hedge funds have recently bought and sold shares of IEP. Allworth Financial LP boosted its stake in shares of Icahn Enterprises by 408.6% in the second quarter. Allworth Financial LP now owns 5,269 shares of the conglomerate’s stock valued at $42,000 after purchasing an additional 4,233 shares during the period. PNC Financial Services Group Inc. lifted its holdings in Icahn Enterprises by 8.3% during the 2nd quarter. PNC Financial Services Group Inc. now owns 30,678 shares of the conglomerate’s stock worth $247,000 after buying an additional 2,350 shares in the last quarter. EagleClaw Capital Managment LLC purchased a new position in Icahn Enterprises in the 2nd quarter valued at approximately $93,000. Meridian Wealth Management LLC grew its stake in shares of Icahn Enterprises by 12.8% in the second quarter. Meridian Wealth Management LLC now owns 23,888 shares of the conglomerate’s stock worth $192,000 after acquiring an additional 2,717 shares in the last quarter. Finally, SG Americas Securities LLC grew its stake in shares of Icahn Enterprises by 7.9% in the second quarter. SG Americas Securities LLC now owns 28,334 shares of the conglomerate’s stock worth $228,000 after acquiring an additional 2,077 shares in the last quarter. 87.09% of the stock is currently owned by hedge funds and other institutional investors.

Icahn Enterprises Company Profile

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.