Icahn Enterprises L.P. (IEP) Announces Quarterly Earnings Results
Icahn Enterprises L.P. (NASDAQ:IEP) released its earnings results on Friday. The conglomerate reported $1.90 earnings per share for the quarter, beating the consensus estimate of $0.22 by $1.68, reports. Icahn Enterprises L.P. had a return on equity of 15.51% and a net margin of 6.35%.
Shares of Icahn Enterprises L.P. (NASDAQ:IEP) traded up $2.06 during trading on Friday, hitting $58.00. The stock had a trading volume of 139,664 shares, compared to its average volume of 63,334. The firm has a market capitalization of $9.19 billion, a price-to-earnings ratio of 6.45 and a beta of 1.77. The company has a quick ratio of 2.91, a current ratio of 2.91 and a debt-to-equity ratio of 1.07.
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A number of brokerages have recently commented on IEP. BidaskClub downgraded Icahn Enterprises L.P. from a “buy” rating to a “hold” rating in a research report on Saturday, August 12th. Jefferies Group LLC reissued a “buy” rating and set a $61.00 price objective on shares of Icahn Enterprises L.P. in a research report on Wednesday, August 9th. Finally, TheStreet raised Icahn Enterprises L.P. from a “d+” rating to a “c” rating in a research report on Tuesday, August 8th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $50.50.
About Icahn Enterprises L.P.
Icahn Enterprises L.P. (Icahn Enterprises) is a holding company. The Company’s segments include Automotive, Energy, Metals, Railcar, Gaming, Food Packaging, Mining, Real Estate and Home Fashion. The Company’s Investment segment includes various private investment funds. The Company operates its Automotive segment through its ownership in Federal-Mogul Holdings Corporation and IEH Auto Parts Holding LLC.
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