Icahn Enterprises (NASDAQ:IEP) Shares Gap Up to $10.80

Icahn Enterprises L.P. (NASDAQ:IEP) gapped up before the market opened on Monday . The stock had previously closed at $10.80, but opened at $11.46. Icahn Enterprises shares last traded at $11.44, with a volume of 317,424 shares.

Icahn Enterprises Stock Performance

The company has a debt-to-equity ratio of 1.23, a quick ratio of 4.85 and a current ratio of 4.85. The firm’s 50-day moving average price is $15.38 and its two-hundred day moving average price is $16.52. The stock has a market cap of $5.33 billion, a price-to-earnings ratio of -10.00 and a beta of 0.77.

Icahn Enterprises (NASDAQ:IEP) last posted its earnings results on Wednesday, August 7th. The conglomerate reported ($0.72) earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.91). The firm had revenue of $2.36 billion during the quarter, compared to analyst estimates of $2.24 billion. Icahn Enterprises had a negative net margin of 4.97% and a negative return on equity of 8.62%. During the same quarter in the previous year, the firm earned ($0.72) earnings per share. On average, analysts expect that Icahn Enterprises L.P. will post -0.42 EPS for the current fiscal year.

Icahn Enterprises Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 25th. Shareholders of record on Monday, August 19th will be paid a dividend of $1.00 per share. The ex-dividend date is Monday, August 19th. This represents a $4.00 annualized dividend and a yield of 33.84%. Icahn Enterprises’s dividend payout ratio (DPR) is -347.83%.

Institutional Trading of Icahn Enterprises

A number of hedge funds and other institutional investors have recently modified their holdings of IEP. KPP Advisory Services LLC purchased a new position in shares of Icahn Enterprises during the 2nd quarter worth approximately $187,000. Northwestern Mutual Wealth Management Co. boosted its position in shares of Icahn Enterprises by 61.5% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,845 shares of the conglomerate’s stock worth $47,000 after buying an additional 1,083 shares during the period. Creative Planning grew its stake in shares of Icahn Enterprises by 15.8% in the second quarter. Creative Planning now owns 108,372 shares of the conglomerate’s stock valued at $1,786,000 after buying an additional 14,805 shares in the last quarter. Insigneo Advisory Services LLC purchased a new stake in shares of Icahn Enterprises in the 2nd quarter valued at $201,000. Finally, Vima LLC acquired a new position in Icahn Enterprises during the 2nd quarter worth about $220,000. 87.09% of the stock is owned by institutional investors and hedge funds.

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.