Icahn Enterprises (NASDAQ:IEP) Stock Crosses Below 200-Day Moving Average – Should You Sell?

Shares of Icahn Enterprises L.P. (NASDAQ:IEP) 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 traded.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Wall Street Zen lowered Icahn Enterprises from a “buy” rating to a “hold” rating in a research note on Saturday, February 28th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Icahn Enterprises in a research note on Friday, April 10th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Reduce”.

Icahn Enterprises Stock Performance

The stock has a market cap of $4.98 billion, a PE ratio of -14.25 and a beta of 0.80. The company has a debt-to-equity ratio of 2.72, a current ratio of 2.67 and a quick ratio of 2.67. The business has a 50 day moving average price of $7.78 and a two-hundred day moving average price of $7.80.

Icahn Enterprises (NASDAQ:IEP) last released its quarterly earnings data on Wednesday, May 6th. The conglomerate reported ($0.71) earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.81). The company had revenue of $2.21 billion for the quarter, compared to analysts’ expectations 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 declared a quarterly dividend, which will be paid on Thursday, June 25th. Investors of record on Monday, May 18th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Monday, May 18th. This represents a $2.00 dividend on an annualized basis and a yield of 27.0%. Icahn Enterprises’s dividend payout ratio (DPR) is presently -384.62%.

Institutional Trading of Icahn Enterprises

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Kestra Advisory Services LLC purchased a new stake in Icahn Enterprises in the fourth quarter worth $35,000. Western Wealth Management LLC purchased a new stake in Icahn Enterprises in the first quarter worth $47,000. Azzad Asset Management Inc. ADV purchased a new stake in Icahn Enterprises in the third quarter worth $88,000. Hilton Head Capital Partners LLC purchased a new stake in Icahn Enterprises in the fourth quarter worth $80,000. Finally, Caz Investments LP lifted its stake in Icahn Enterprises by 12.5% in the second quarter. Caz Investments LP now owns 11,254 shares of the conglomerate’s stock worth $91,000 after acquiring an additional 1,254 shares during the period. Hedge funds and other institutional investors own 87.09% of the company’s stock.

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.