Icahn Enterprises (NASDAQ:IEP) Shares Gap Down – Time to Sell?

Icahn Enterprises L.P. (NASDAQ:IEP) gapped down before the market opened on Tuesday . The stock had previously closed at $9.06, but opened at $8.85. Icahn Enterprises shares last traded at $8.95, with a volume of 144,880 shares traded.

Analysts Set New Price Targets

Separately, StockNews.com raised Icahn Enterprises from a “sell” rating to a “hold” rating in a research report on Wednesday, March 26th.

Icahn Enterprises Trading Up 0.7 %

The company has a debt-to-equity ratio of 1.34, a current ratio of 4.61 and a quick ratio of 4.61. The business has a 50-day moving average of $9.71 and a 200-day moving average of $11.00. The firm has a market cap of $4.77 billion, a price-to-earnings ratio of -8.38 and a beta of 0.85.

Icahn Enterprises (NASDAQ:IEP) last issued its quarterly earnings data on Wednesday, February 26th. The conglomerate reported ($0.19) earnings per share 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 the consensus estimate of $2.27 billion. Icahn Enterprises had a negative net margin of 4.79% and a negative return on equity of 8.82%. Research analysts anticipate that Icahn Enterprises L.P. will post -0.55 EPS for the current year.

Icahn Enterprises Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 16th. Shareholders of record on Monday, March 10th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $2.00 annualized dividend and a yield of 21.91%. Icahn Enterprises’s dividend payout ratio is presently -210.53%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Mpwm Advisory Solutions LLC acquired a new stake in Icahn Enterprises in the fourth quarter valued at about $37,000. BNP Paribas Financial Markets boosted its stake in shares of Icahn Enterprises by 40,056.0% in the 4th quarter. BNP Paribas Financial Markets now owns 10,039 shares of the conglomerate’s stock valued at $87,000 after purchasing an additional 10,014 shares in the last quarter. Mercer Global Advisors Inc. ADV bought a new stake in shares of Icahn Enterprises during the 4th quarter valued at approximately $105,000. Triumph Capital Management increased its position in Icahn Enterprises by 27.0% during the 4th quarter. Triumph Capital Management now owns 21,254 shares of the conglomerate’s stock worth $184,000 after purchasing an additional 4,521 shares in the last quarter. Finally, Icahn Carl C lifted its stake in Icahn Enterprises by 4.1% in the 4th quarter. Icahn Carl C now owns 450,788,170 shares of the conglomerate’s stock valued at $3,908,333,000 after purchasing an additional 17,581,237 shares during the last quarter. 87.09% of the stock is owned by institutional investors.

About Icahn Enterprises

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.