Icahn Enterprises (NASDAQ:IEP) Sets New 52-Week Low - Should You Sell?

Icahn Enterprises L.P. (NASDAQ:IEP - Get Free Report) shares hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $8.45 and last traded at $8.44, with a volume of 1161820 shares trading hands. The stock had previously closed at $8.97.

Analyst Ratings Changes

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

Icahn Enterprises Stock Up 8.1 %

The stock has a 50-day simple moving average of $9.49 and a two-hundred day simple moving average of $10.78. The firm has a market cap of $4.41 billion, a PE ratio of -7.73 and a beta of 0.77. The company has a quick ratio of 4.61, a current ratio of 4.61 and a debt-to-equity ratio of 1.34.

Icahn Enterprises (NASDAQ:IEP - Get Free Report) last announced its quarterly 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). The business had revenue of $2.37 billion for the quarter, compared to analysts' expectations of $2.27 billion. Icahn Enterprises had a negative net margin of 4.79% and a negative return on equity of 8.82%. Analysts expect that Icahn Enterprises L.P. will post -0.55 earnings per share for the current year.

Icahn Enterprises Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 16th. Investors of record on Monday, March 10th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 23.72%. The ex-dividend date of this dividend is Monday, March 10th. Icahn Enterprises's dividend payout ratio (DPR) is presently -210.53%.

Institutional Investors Weigh In On Icahn Enterprises

Several large investors have recently bought and sold shares of the business. Insigneo Advisory Services LLC lifted its position in Icahn Enterprises by 42.3% during the third quarter. Insigneo Advisory Services LLC now owns 17,501 shares of the conglomerate's stock valued at $237,000 after purchasing an additional 5,199 shares during the period. National Bank of Canada FI boosted its stake in shares of Icahn Enterprises by 12.5% in the 3rd quarter. National Bank of Canada FI now owns 22,500 shares of the conglomerate's stock worth $304,000 after buying an additional 2,500 shares during the last quarter. MML Investors Services LLC purchased a new stake in Icahn Enterprises during the third quarter valued at $171,000. Barclays PLC grew its stake in shares of Icahn Enterprises by 24.3% during the 3rd quarter. Barclays PLC now owns 7,307 shares of the conglomerate's stock valued at $100,000 after purchasing an additional 1,427 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in shares of Icahn Enterprises by 3.1% in the third quarter. Geode Capital Management LLC now owns 408,157 shares of the conglomerate's stock worth $5,518,000 after buying an additional 12,421 shares during the last quarter. 87.09% of the stock is currently 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.