Icahn Enterprises (NASDAQ:IEP) Share Price Passes Below 200-Day Moving Average – Should You Sell?

Icahn Enterprises L.P. (NASDAQ:IEP)’s share price passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $8.46 and traded as low as $7.62. Icahn Enterprises shares last traded at $7.68, with a volume of 763,024 shares.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Icahn Enterprises in a report on Monday. Wall Street Zen upgraded Icahn Enterprises from a “hold” rating to a “buy” rating in a research report on Saturday, November 22nd. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Reduce”.

Icahn Enterprises Stock Up 0.4%

The firm has a market capitalization of $4.61 billion, a P/E ratio of -9.72 and a beta of 0.81. The firm’s 50 day moving average is $8.14 and its two-hundred day moving average is $8.46. The company has a debt-to-equity ratio of 1.96, a current ratio of 4.24 and a quick ratio of 4.24.

Icahn Enterprises (NASDAQ:IEP) last issued its earnings results on Wednesday, November 5th. The conglomerate reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.35. Icahn Enterprises had a negative net margin of 4.04% and a negative return on equity of 10.13%. The business had revenue of $2.73 billion during the quarter, compared to the consensus estimate of $2.40 billion. Research analysts predict that Icahn Enterprises L.P. will post -0.55 EPS for the current year.

Icahn Enterprises Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 24th. Investors of record on Monday, November 17th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 26.0%. The ex-dividend date is Monday, November 17th. Icahn Enterprises’s payout ratio is -253.16%.

Institutional Investors Weigh In On Icahn Enterprises

Large investors have recently bought and sold shares of the company. Allworth Financial LP increased its stake in 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 acquiring an additional 4,233 shares during the last quarter. Claro Advisors LLC acquired a new stake in shares of Icahn Enterprises in the 2nd quarter valued at $85,000. Azzad Asset Management Inc. ADV acquired a new stake in shares of Icahn Enterprises in the 3rd quarter valued at $88,000. Caz Investments LP raised its holdings in shares of Icahn Enterprises by 12.5% during the 2nd quarter. Caz Investments LP now owns 11,254 shares of the conglomerate’s stock worth $91,000 after buying an additional 1,254 shares in the last quarter. Finally, EagleClaw Capital Managment LLC bought a new stake in shares of Icahn Enterprises during the 2nd quarter worth $93,000. 87.09% of the stock is currently owned by institutional investors and hedge funds.

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.