Icahn Enterprises (NASDAQ:IEP) Stock Price Passes Below 200-Day Moving Average – What’s Next?

Icahn Enterprises L.P. (NASDAQ:IEP)’s share price passed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $7.59 and traded as low as $6.74. Icahn Enterprises shares last traded at $6.81, with a volume of 490,345 shares changing hands.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Icahn Enterprises in a research note on Wednesday, July 8th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company has an average rating of “Sell”.

Icahn Enterprises Price Performance

The company has a debt-to-equity ratio of 2.98, a current ratio of 2.87 and a quick ratio of 2.87. The company has a market capitalization of $4.93 billion, a P/E ratio of -9.38 and a beta of 0.79. The firm’s 50-day moving average is $7.31 and its 200-day moving average is $7.59.

Icahn Enterprises (NASDAQ:IEP) last issued its quarterly earnings results on Wednesday, August 5th. The conglomerate reported ($0.52) earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.63). The business had revenue of $2.98 billion for the quarter, compared to analysts’ expectations of $2.04 billion. Icahn Enterprises had a negative return on equity of 17.99% and a negative net margin of 4.81%.

Icahn Enterprises Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 23rd. Investors of record on Monday, August 17th will be given a dividend of $0.50 per share. The ex-dividend date is Monday, August 17th. This represents a $2.00 annualized dividend and a yield of 28.8%. Icahn Enterprises’s payout ratio is -270.27%.

Institutional Trading of Icahn Enterprises

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Kestra Advisory Services LLC purchased a new position in shares of Icahn Enterprises during the 4th quarter valued at about $35,000. Western Wealth Management LLC purchased a new stake in Icahn Enterprises in the 1st quarter worth approximately $47,000. Ancora Advisors LLC bought a new stake in Icahn Enterprises during the 2nd quarter worth approximately $73,000. Hilton Head Capital Partners LLC bought a new stake in Icahn Enterprises during the 4th quarter worth approximately $80,000. Finally, Caz Investments LP lifted its holdings in Icahn Enterprises by 12.5% during the second quarter. Caz Investments LP now owns 11,254 shares of the conglomerate’s stock valued at $91,000 after purchasing an additional 1,254 shares in the last quarter. 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.