Icahn Enterprises (NASDAQ:IEP) Rating Lowered to Sell at StockNews.com

StockNews.com downgraded shares of Icahn Enterprises (NASDAQ:IEP - Free Report) from a hold rating to a sell rating in a research report released on Friday morning.

Icahn Enterprises Trading Down 0.9 %

Shares of Icahn Enterprises stock traded down $0.09 during midday trading on Friday, reaching $10.00. 806,259 shares of the company's stock traded hands, compared to its average volume of 769,898. The stock has a 50 day moving average of $9.59 and a 200-day moving average of $11.61. Icahn Enterprises has a 12 month low of $8.53 and a 12 month high of $20.25. The company has a market cap of $5.23 billion, a PE ratio of -9.17 and a beta of 0.81. The company has a debt-to-equity ratio of 1.34, a quick ratio of 4.61 and a current ratio of 4.61.

Icahn Enterprises (NASDAQ:IEP - Get Free Report) last issued 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 the consensus estimate of $2.27 billion. Icahn Enterprises had a negative return on equity of 8.82% and a negative net margin of 4.79%. As a group, equities analysts expect that Icahn Enterprises will post -0.55 EPS for the current fiscal year.

Icahn Enterprises Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 16th. Shareholders of record on Monday, March 10th will be issued a dividend of $0.50 per share. The ex-dividend date is Monday, March 10th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 20.00%. Icahn Enterprises's dividend payout ratio (DPR) is -210.53%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC bought a new position in Icahn Enterprises in the third quarter worth $164,000. United Advisor Group LLC grew its position in shares of Icahn Enterprises by 7.7% in the 3rd quarter. United Advisor Group LLC now owns 28,930 shares of the conglomerate's stock worth $391,000 after buying an additional 2,079 shares during the period. Prime Capital Investment Advisors LLC increased its stake in shares of Icahn Enterprises by 6.4% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 14,203 shares of the conglomerate's stock worth $192,000 after acquiring an additional 855 shares in the last quarter. Planning Capital Management Corp purchased a new position in Icahn Enterprises during the 3rd quarter valued at about $34,000. Finally, KPP Advisory Services LLC boosted its stake in Icahn Enterprises by 40.2% during the third quarter. KPP Advisory Services LLC now owns 15,918 shares of the conglomerate's stock worth $215,000 after acquiring an additional 4,563 shares in the last quarter. Hedge funds and other institutional investors own 87.09% of the company's stock.

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.