Icahn Enterprises (NASDAQ:IEP) Shares Up 3.9% – Still a Buy?

Shares of Icahn Enterprises L.P. (NASDAQ:IEP) were up 3.9% on Thursday . The stock traded as high as $8.68 and last traded at $8.70. Approximately 194,001 shares traded hands during mid-day trading, a decline of 74% from the average daily volume of 750,103 shares. The stock had previously closed at $8.37.

Analysts Set New Price Targets

Separately, StockNews.com raised Icahn Enterprises from a “sell” rating to a “hold” rating in a research report on Wednesday, March 26th.

Icahn Enterprises Stock Up 2.0 %

The company has a current ratio of 4.61, a quick ratio of 4.61 and a debt-to-equity ratio of 1.34. The stock has a market capitalization of $4.46 billion, a P/E ratio of -7.83 and a beta of 0.77. The stock’s 50-day moving average price is $9.31 and its two-hundred day moving average price is $10.59.

Icahn Enterprises (NASDAQ:IEP) last released its earnings results on Wednesday, February 26th. The conglomerate reported ($0.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.36). Icahn Enterprises had a negative return on equity of 8.82% and a negative net margin of 4.79%. The firm had revenue of $2.37 billion during the quarter, compared to analysts’ expectations of $2.27 billion. As a group, research analysts expect that Icahn Enterprises L.P. will post -0.55 earnings per share for the current fiscal year.

Icahn Enterprises Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 16th. Shareholders of record on Monday, March 10th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $2.00 dividend on an annualized basis and a yield of 23.42%. Icahn Enterprises’s dividend payout ratio is presently -210.53%.

Institutional Trading of Icahn Enterprises

Several hedge funds and other institutional investors have recently modified their holdings of IEP. Merit Financial Group LLC purchased a new stake in shares of Icahn Enterprises during the fourth quarter worth $343,000. MML Investors Services LLC bought a new stake in shares of Icahn Enterprises during the 3rd quarter valued at $171,000. Barclays PLC lifted its holdings in Icahn Enterprises by 24.3% during the 3rd quarter. Barclays PLC now owns 7,307 shares of the conglomerate’s stock worth $100,000 after purchasing an additional 1,427 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Icahn Enterprises during the 4th quarter valued at about $969,000. Finally, Virtu Financial LLC purchased a new position in Icahn Enterprises during the 4th quarter valued at about $856,000. Institutional investors own 87.09% of the company’s stock.

Icahn Enterprises Company Profile

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.