Icahn Enterprises (NASDAQ:IEP) Stock Crosses Below 200-Day Moving Average – Here’s What Happened

Icahn Enterprises L.P. (NASDAQ:IEP)’s stock price passed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $7.80 and traded as low as $7.39. Icahn Enterprises shares last traded at $7.41, with a volume of 942,825 shares trading hands.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Icahn Enterprises in a report on Friday, April 10th. Wall Street Zen cut shares of Icahn Enterprises from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Icahn Enterprises has an average rating of “Reduce”.

Icahn Enterprises Stock Down 1.3%

The business’s fifty day moving average price is $7.78 and its 200 day moving average price is $7.80. The firm has a market capitalization of $4.98 billion, a price-to-earnings ratio of -14.25 and a beta of 0.80. The company has a current ratio of 2.67, a quick ratio of 2.67 and a debt-to-equity ratio of 2.72.

Icahn Enterprises (NASDAQ:IEP) last announced its earnings results on Wednesday, May 6th. The conglomerate reported ($0.71) EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.81). The business had revenue of $2.21 billion during the quarter, compared to analyst estimates of $2.33 billion. Icahn Enterprises had a negative net margin of 3.24% and a negative return on equity of 10.27%.

Icahn Enterprises Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 25th. Stockholders of record on Monday, May 18th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 27.0%. The ex-dividend date of this dividend is Monday, May 18th. Icahn Enterprises’s payout ratio is presently -384.62%.

Hedge Funds Weigh In On Icahn Enterprises

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Icahn Carl C grew its position in Icahn Enterprises by 5.9% in the 4th quarter. Icahn Carl C now owns 549,400,539 shares of the conglomerate’s stock valued at $4,147,974,000 after buying an additional 30,467,595 shares during the last quarter. First Trust Advisors LP grew its position in Icahn Enterprises by 22.1% in the 2nd quarter. First Trust Advisors LP now owns 884,514 shares of the conglomerate’s stock valued at $7,116,000 after buying an additional 160,183 shares during the last quarter. Geode Capital Management LLC grew its position in Icahn Enterprises by 6.6% in the 4th quarter. Geode Capital Management LLC now owns 544,737 shares of the conglomerate’s stock valued at $4,113,000 after buying an additional 33,537 shares during the last quarter. Jump Financial LLC purchased a new position in Icahn Enterprises in the 4th quarter valued at $1,353,000. Finally, Invesco Ltd. purchased a new position in Icahn Enterprises in the 4th quarter valued at $1,074,000. 87.09% of the stock is currently owned by hedge funds and other institutional investors.

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.