Icahn Enterprises (NASDAQ:IEP) Upgraded at StockNews.com

StockNews.com upgraded shares of Icahn Enterprises (NASDAQ:IEP) from a sell rating to a hold rating in a research note published on Wednesday morning.

Icahn Enterprises Stock Performance

Shares of NASDAQ IEP opened at $9.21 on Wednesday. The company has a current ratio of 4.61, a quick ratio of 4.61 and a debt-to-equity ratio of 1.34. Icahn Enterprises has a 12-month low of $8.53 and a 12-month high of $19.10. The firm has a market capitalization of $4.81 billion, a price-to-earnings ratio of -8.45 and a beta of 0.85. The firm has a 50 day moving average of $9.74 and a 200 day moving average of $11.02.

Icahn Enterprises (NASDAQ:IEP) last posted its quarterly earnings data on Wednesday, February 26th. The conglomerate reported ($0.19) EPS for the quarter, missing the consensus estimate of $0.17 by ($0.36). The company had revenue of $2.37 billion during the quarter, compared to analysts’ expectations of $2.27 billion. Icahn Enterprises had a negative return on equity of 8.82% and a negative net margin of 4.79%. On average, research analysts anticipate that Icahn Enterprises will post -0.55 earnings per share for the current year.

Icahn Enterprises Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 16th. Investors of record on Monday, March 10th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 21.72%. The ex-dividend date of this dividend is Monday, March 10th. Icahn Enterprises’s dividend payout ratio is -210.53%.

Hedge Funds Weigh In On Icahn Enterprises

Large investors have recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB purchased a new stake in shares of Icahn Enterprises in the third quarter worth $30,000. Mpwm Advisory Solutions LLC bought a new stake in Icahn Enterprises during the fourth quarter valued at about $37,000. Global Retirement Partners LLC lifted its position in shares of Icahn Enterprises by 18.1% in the fourth quarter. Global Retirement Partners LLC now owns 7,122 shares of the conglomerate’s stock valued at $62,000 after acquiring an additional 1,089 shares in the last quarter. Caz Investments LP purchased a new position in shares of Icahn Enterprises in the fourth quarter valued at about $87,000. Finally, BNP Paribas Financial Markets lifted its position in shares of Icahn Enterprises by 40,056.0% in the fourth quarter. BNP Paribas Financial Markets now owns 10,039 shares of the conglomerate’s stock valued at $87,000 after acquiring an additional 10,014 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., 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.