Icahn Enterprises’ (IEP) Sell (D-) Rating Reaffirmed at Weiss Ratings

Icahn Enterprises (NASDAQ:IEP)‘s stock had its “sell (d-)” rating reissued by analysts at Weiss Ratings in a research note issued on Wednesday,Weiss Ratings reports.

IEP has been the topic of a number of other research reports. Zacks Research raised shares of Icahn Enterprises from a “strong sell” rating to a “hold” rating in a report on Friday, August 15th. Wall Street Zen raised shares of Icahn Enterprises from a “sell” rating to a “hold” rating in a report on Friday, September 5th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Icahn Enterprises has a consensus rating of “Reduce”.

Icahn Enterprises Stock Performance

Shares of NASDAQ IEP opened at $8.28 on Wednesday. The firm’s 50-day moving average price is $8.55 and its 200-day moving average price is $8.66. The company has a quick ratio of 3.40, a current ratio of 3.40 and a debt-to-equity ratio of 1.96. The company has a market cap of $4.75 billion, a PE ratio of -6.73 and a beta of 0.79. Icahn Enterprises has a 52-week low of $7.27 and a 52-week high of $15.65.

Icahn Enterprises (NASDAQ:IEP) last announced its quarterly earnings results on Monday, August 4th. The conglomerate reported ($0.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.44). The company had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $2.39 billion. Icahn Enterprises had a negative net margin of 6.78% and a negative return on equity of 15.65%. As a group, analysts anticipate that Icahn Enterprises will post -0.55 EPS for the current year.

Hedge Funds Weigh In On Icahn Enterprises

A number of institutional investors and hedge funds have recently made changes to their positions in the business. First Trust Advisors LP boosted its holdings in shares of Icahn Enterprises by 22.1% in the second quarter. First Trust Advisors LP now owns 884,514 shares of the conglomerate’s stock worth $7,116,000 after buying an additional 160,183 shares during the last quarter. International Assets Investment Management LLC bought a new stake in Icahn Enterprises during the 2nd quarter worth approximately $1,382,000. Bank of America Corp DE raised its stake in Icahn Enterprises by 60.1% during the 2nd quarter. Bank of America Corp DE now owns 85,223 shares of the conglomerate’s stock worth $686,000 after acquiring an additional 32,007 shares during the period. Axxcess Wealth Management LLC raised its stake in Icahn Enterprises by 29.9% during the 2nd quarter. Axxcess Wealth Management LLC now owns 66,965 shares of the conglomerate’s stock worth $539,000 after acquiring an additional 15,428 shares during the period. Finally, Janney Montgomery Scott LLC raised its stake in Icahn Enterprises by 164.0% during the 1st quarter. Janney Montgomery Scott LLC now owns 52,759 shares of the conglomerate’s stock worth $478,000 after acquiring an additional 32,772 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., 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.