Icahn Enterprises (NASDAQ:IEP) Stock Rating Lowered by StockNews.com

Icahn Enterprises (NASDAQ:IEP) was downgraded by stock analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued on Sunday.

Icahn Enterprises Stock Up 1.5 %

Shares of NASDAQ:IEP opened at $9.64 on Friday. Icahn Enterprises has a 52-week low of $8.53 and a 52-week high of $19.10. The company has a market capitalization of $5.04 billion, a PE ratio of -8.84 and a beta of 0.85. The company has a debt-to-equity ratio of 1.34, a quick ratio of 4.61 and a current ratio of 4.61. The company has a fifty day moving average of $9.69 and a 200-day moving average of $11.17.

Icahn Enterprises (NASDAQ:IEP) last issued 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 analyst estimates of $2.27 billion. On average, equities analysts predict that Icahn Enterprises will post -0.55 EPS for the current fiscal year.

Hedge Funds Weigh In On Icahn Enterprises

Several large investors have recently modified their holdings of IEP. Wilmington Savings Fund Society FSB acquired a new stake in shares of Icahn Enterprises in the third quarter valued at about $30,000. Mpwm Advisory Solutions LLC bought a new stake in Icahn Enterprises in the fourth quarter valued at approximately $37,000. Global Retirement Partners LLC increased its position in Icahn Enterprises by 18.1% during the 4th quarter. Global Retirement Partners LLC now owns 7,122 shares of the conglomerate’s stock valued at $62,000 after purchasing an additional 1,089 shares during the period. Barclays PLC raised 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 during the last quarter. Finally, Caz Investments LP acquired a new position in shares of Icahn Enterprises in the 4th quarter worth approximately $87,000. 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.