Icahn Enterprises (NASDAQ:IEP) Stock Price Down 3% - Should You Sell?

Icahn Enterprises L.P. (NASDAQ:IEP - Get Free Report)'s stock price fell 3% on Monday . The stock traded as low as $9.43 and last traded at $9.40. 327,680 shares changed hands during mid-day trading, a decline of 65% from the average session volume of 931,386 shares. The stock had previously closed at $9.69.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of Icahn Enterprises from a "sell" rating to a "hold" rating in a research report on Wednesday.

Icahn Enterprises Price Performance

The firm has a 50 day moving average price of $9.74 and a 200 day moving average price of $11.03. The stock has a market capitalization of $4.81 billion, a PE ratio of -8.45 and a beta of 0.85. 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 (NASDAQ:IEP - Get Free Report) last announced its quarterly earnings data 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 firm 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%. Research analysts anticipate that Icahn Enterprises L.P. will post -0.55 earnings per share for the current year.

Icahn Enterprises Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 16th. Stockholders of record on Monday, March 10th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 21.72%. The ex-dividend date of this dividend is Monday, March 10th. Icahn Enterprises's dividend payout ratio (DPR) is -210.53%.

Institutional Trading of Icahn Enterprises

Several hedge funds have recently made changes to their positions in the business. Merit Financial Group LLC bought a new stake in Icahn Enterprises during the fourth quarter worth approximately $343,000. MML Investors Services LLC purchased a new position in shares of Icahn Enterprises in the 3rd quarter worth approximately $171,000. Barclays PLC increased its position 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 last quarter. Geode Capital Management LLC raised its holdings in Icahn Enterprises by 3.1% during the 3rd quarter. Geode Capital Management LLC now owns 408,157 shares of the conglomerate's stock valued at $5,518,000 after buying an additional 12,421 shares during the period. Finally, Global Retirement Partners LLC lifted its position in Icahn Enterprises by 18.1% in the fourth quarter. Global Retirement Partners LLC now owns 7,122 shares of the conglomerate's stock worth $62,000 after buying an additional 1,089 shares during the last quarter. 87.09% of the stock is currently owned by hedge funds and other institutional investors.

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.