Icahn Enterprises (NASDAQ:IEP) Sees Unusually-High Trading Volume

Icahn Enterprises L.P. (NASDAQ:IEP) saw unusually-high trading volume on Thursday . Approximately 434,001 shares traded hands during mid-day trading, a decline of 45% from the previous session’s volume of 783,525 shares.The stock last traded at $11.69 and had previously closed at $12.21.

Icahn Enterprises Trading Down 5.4 %

The business’s fifty day simple moving average is $16.00 and its two-hundred day simple moving average is $16.89. The company has a quick ratio of 4.85, a current ratio of 4.85 and a debt-to-equity ratio of 1.23. The company has a market cap of $4.76 billion, a price-to-earnings ratio of -9.17 and a beta of 0.80.

Icahn Enterprises (NASDAQ:IEP) last released its quarterly earnings data on Wednesday, August 7th. The conglomerate reported ($0.72) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.91). The company had revenue of $2.36 billion during the quarter, compared to analyst estimates of $2.24 billion. Icahn Enterprises had a negative net margin of 4.97% and a negative return on equity of 8.62%. During the same quarter in the prior year, the company earned ($0.72) EPS. On average, equities analysts predict that Icahn Enterprises L.P. will post -0.42 EPS for the current year.

Icahn Enterprises Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 25th. Stockholders of record on Monday, August 19th will be issued a $1.00 dividend. The ex-dividend date of this dividend is Monday, August 19th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 37.91%. Icahn Enterprises’s payout ratio is -347.83%.

Institutional Investors Weigh In On Icahn Enterprises

A number of institutional investors and hedge funds have recently made changes to their positions in the business. PNC Financial Services Group Inc. lifted its holdings in shares of Icahn Enterprises by 3.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 15,353 shares of the conglomerate’s stock worth $264,000 after purchasing an additional 537 shares during the period. National Bank of Canada FI raised its position in Icahn Enterprises by 6.0% during the 4th quarter. National Bank of Canada FI now owns 10,600 shares of the conglomerate’s stock worth $187,000 after buying an additional 600 shares during the last quarter. PSI Advisors LLC lifted its stake in shares of Icahn Enterprises by 3.4% in the 2nd quarter. PSI Advisors LLC now owns 30,055 shares of the conglomerate’s stock worth $495,000 after acquiring an additional 990 shares during the period. Spire Wealth Management boosted its holdings in shares of Icahn Enterprises by 100.0% in the first quarter. Spire Wealth Management now owns 2,000 shares of the conglomerate’s stock valued at $34,000 after acquiring an additional 1,000 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its stake in shares of Icahn Enterprises by 61.5% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,845 shares of the conglomerate’s stock worth $47,000 after acquiring an additional 1,083 shares during the period. 87.09% of the stock is owned by hedge funds and other institutional investors.

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.