Icahn Enterprises (NASDAQ:IEP) Stock Passes Below Two Hundred Day Moving Average – Here’s Why

Icahn Enterprises L.P. (NASDAQ:IEP) crossed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $8.53 and traded as low as $8.02. Icahn Enterprises shares last traded at $8.08, with a volume of 1,026,305 shares trading hands.

Analysts Set New Price Targets

Several research analysts recently commented on IEP shares. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Icahn Enterprises in a research report on Monday, November 24th. Wall Street Zen upgraded shares of Icahn Enterprises from a “hold” rating to a “buy” rating in a research note on Saturday, November 22nd. Finally, Zacks Research raised shares of Icahn Enterprises from a “strong sell” rating to a “hold” rating in a report on Friday, August 15th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce”.

Icahn Enterprises Stock Down 0.5%

The company has a quick ratio of 3.40, a current ratio of 3.40 and a debt-to-equity ratio of 1.96. The business has a 50-day simple moving average of $8.26 and a two-hundred day simple moving average of $8.53. The stock has a market capitalization of $4.85 billion, a P/E ratio of -6.57 and a beta of 0.80.

Icahn Enterprises (NASDAQ:IEP) last issued its quarterly earnings data on Wednesday, November 5th. The conglomerate reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.35. Icahn Enterprises had a negative return on equity of 15.65% and a negative net margin of 6.78%.The company had revenue of $2.73 billion during the quarter, compared to analysts’ expectations of $2.40 billion. Equities research analysts forecast that Icahn Enterprises L.P. will post -0.55 earnings per share for the current fiscal year.

Icahn Enterprises Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 24th. Shareholders of record on Monday, November 17th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 24.8%. The ex-dividend date of this dividend is Monday, November 17th. Icahn Enterprises’s dividend payout ratio is currently -253.16%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. National Bank of Canada FI grew its position in Icahn Enterprises by 20.0% during the 1st quarter. National Bank of Canada FI now owns 30,000 shares of the conglomerate’s stock worth $272,000 after acquiring an additional 5,000 shares during the last quarter. Summit Securities Group LLC boosted its stake in Icahn Enterprises by 187.6% in the first quarter. Summit Securities Group LLC now owns 10,300 shares of the conglomerate’s stock worth $93,000 after purchasing an additional 6,719 shares in the last quarter. Key Client Fiduciary Advisors LLC grew its holdings in shares of Icahn Enterprises by 6.1% during the second quarter. Key Client Fiduciary Advisors LLC now owns 34,333 shares of the conglomerate’s stock worth $276,000 after purchasing an additional 1,961 shares during the last quarter. Arrow Investment Advisors LLC increased its stake in shares of Icahn Enterprises by 17.7% in the second quarter. Arrow Investment Advisors LLC now owns 17,815 shares of the conglomerate’s stock valued at $143,000 after buying an additional 2,677 shares in the last quarter. Finally, Counterpoint Mutual Funds LLC bought a new position in shares of Icahn Enterprises in the second quarter valued at about $294,000. Institutional investors own 87.09% of the company’s stock.

About Icahn Enterprises

Icahn Enterprises L.P., through its subsidiaries, engages in the investment, energy, automotive, food packaging, real estate, home fashion, and pharma businesses in the United States and Internationally. The Investment segment invests its proprietary capital through various private investment funds. This segment provides investment advisory and other related services.