Icahn Enterprises (NASDAQ:IEP) Shares Gap Down to $34.70

Icahn Enterprises L.P. (NASDAQ:IEP – Get Rating)’s share price gapped down before the market opened on Friday . The stock had previously closed at $34.70, but opened at $32.70. Icahn Enterprises shares last traded at $31.85, with a volume of 747,149 shares.

Analyst Ratings Changes

Separately, StockNews.com lowered shares of Icahn Enterprises from a “hold” rating to a “sell” rating in a report on Friday, May 12th.

Icahn Enterprises Stock Down 1.4 %

The firm has a market cap of $11.90 billion, a PE ratio of -14.19 and a beta of 0.75. The company has a debt-to-equity ratio of 0.83, a quick ratio of 5.49 and a current ratio of 5.49. The company’s 50-day simple moving average is $46.77 and its two-hundred day simple moving average is $50.56.

Icahn Enterprises (NASDAQ:IEP – Get Rating) last posted its earnings results on Friday, February 24th. The conglomerate reported ($0.74) EPS for the quarter, missing the consensus estimate of $0.15 by ($0.89). Icahn Enterprises had a negative return on equity of 8.15% and a negative net margin of 6.08%. The company had revenue of $3.10 billion during the quarter, compared to analysts’ expectations of $2.97 billion. On average, analysts predict that Icahn Enterprises L.P. will post 0.1 earnings per share for the current fiscal year.

Icahn Enterprises Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Monday, May 22nd will be paid a $2.00 dividend. The ex-dividend date of this dividend is Friday, May 19th. This represents a $8.00 annualized dividend and a dividend yield of 24.83%. Icahn Enterprises’s payout ratio is -352.42%.

Institutional Trading of Icahn Enterprises

A number of institutional investors and hedge funds have recently bought and sold shares of IEP. Worth Asset Management LLC purchased a new position in shares of Icahn Enterprises during the fourth quarter valued at approximately $25,000. Geneos Wealth Management Inc. lifted its position in Icahn Enterprises by 140.8% during the first quarter. Geneos Wealth Management Inc. now owns 513 shares of the conglomerate’s stock valued at $26,000 after purchasing an additional 300 shares during the last quarter. CoreCap Advisors LLC bought a new position in Icahn Enterprises during the fourth quarter valued at $29,000. Global Retirement Partners LLC bought a new position in Icahn Enterprises during the first quarter valued at $29,000. Finally, GPS Wealth Strategies Group LLC purchased a new stake in shares of Icahn Enterprises in the first quarter valued at $50,000. 86.86% of the stock is currently owned by institutional investors.

Icahn Enterprises Company Profile

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Icahn Enterprises LP operates as holding company. It operates through following eight business segments: Investment, Automotive, Energy, Food Packaging, Metals, Real Estate, Home Fashion, and Pharma. The Investment segment consists of various private investment funds. The Automotive segment holds ownership in Icahn Automotive Group LLC.