Icahn Enterprises (NASDAQ:IEP - Get Free Report) was upgraded by investment analysts at StockNews.com from a "sell" rating to a "hold" rating in a research report issued on Wednesday.
Icahn Enterprises Stock Performance
IEP stock traded down $0.09 on Wednesday, hitting $9.21. The company's stock had a trading volume of 423,196 shares, compared to its average volume of 933,374. The stock has a market cap 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 two-hundred day moving average of $11.03. 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 1 year low of $8.53 and a 1 year high of $19.10.
Icahn Enterprises (NASDAQ:IEP - Get Free Report) last announced its earnings results on Wednesday, February 26th. The conglomerate reported ($0.19) EPS for the quarter, missing analysts' consensus estimates of $0.17 by ($0.36). Icahn Enterprises had a negative net margin of 4.79% and a negative return on equity of 8.82%. The business had revenue of $2.37 billion during the quarter, compared to analysts' expectations of $2.27 billion. Equities analysts predict that Icahn Enterprises will post -0.55 EPS for the current fiscal year.
Hedge Funds Weigh In On Icahn Enterprises
Hedge funds and other institutional investors have recently bought and sold shares of the company. Icahn Carl C lifted its stake in shares of Icahn Enterprises by 4.1% in the 4th quarter. Icahn Carl C now owns 450,788,170 shares of the conglomerate's stock worth $3,908,333,000 after acquiring an additional 17,581,237 shares during the period. First Trust Advisors LP raised its holdings in Icahn Enterprises by 26.2% during the fourth quarter. First Trust Advisors LP now owns 660,077 shares of the conglomerate's stock worth $5,723,000 after purchasing an additional 137,012 shares in the last quarter. Geode Capital Management LLC lifted its position in Icahn Enterprises by 3.1% in the third quarter. Geode Capital Management LLC now owns 408,157 shares of the conglomerate's stock valued at $5,518,000 after purchasing an additional 12,421 shares during the period. Raymond James Financial Inc. purchased a new stake in Icahn Enterprises in the 4th quarter valued at approximately $969,000. Finally, Virtu Financial LLC acquired a new position in Icahn Enterprises during the 4th quarter worth approximately $856,000. 87.09% of the stock is currently owned by hedge funds and other institutional investors.
About Icahn Enterprises
(
Get Free Report)
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.
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