Icahn Enterprises (NASDAQ:IEP) Shares Gap Down – Should You Sell?

Icahn Enterprises L.P. (NASDAQ:IEP) shares gapped down prior to trading on Tuesday . The stock had previously closed at $9.06, but opened at $8.85. Icahn Enterprises shares last traded at $8.95, with a volume of 144,880 shares trading hands.

Analyst Ratings Changes

Separately, StockNews.com raised shares of Icahn Enterprises from a “sell” rating to a “hold” rating in a research note on Wednesday, March 26th.

Icahn Enterprises Stock Performance

The stock’s 50 day simple moving average is $9.73 and its two-hundred day simple moving average is $11.03. The company has a market cap of $4.74 billion, a PE ratio of -8.32 and a beta of 0.85. 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) last issued its earnings results on Wednesday, February 26th. The conglomerate reported ($0.19) earnings per share 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 analyst estimates of $2.27 billion. Icahn Enterprises had a negative net margin of 4.79% and a negative return on equity of 8.82%. As a group, research analysts anticipate that Icahn Enterprises L.P. will post -0.55 earnings per share for the current year.

Icahn Enterprises Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 16th. Investors of record on Monday, March 10th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $2.00 annualized dividend and a yield of 22.06%. Icahn Enterprises’s payout ratio is -210.53%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Insigneo Advisory Services LLC raised its stake in shares of Icahn Enterprises by 42.3% in the 3rd quarter. Insigneo Advisory Services LLC now owns 17,501 shares of the conglomerate’s stock valued at $237,000 after acquiring an additional 5,199 shares during the period. National Bank of Canada FI raised its position in Icahn Enterprises by 12.5% in the third quarter. National Bank of Canada FI now owns 22,500 shares of the conglomerate’s stock valued at $304,000 after purchasing an additional 2,500 shares during the period. MML Investors Services LLC acquired a new position in shares of Icahn Enterprises during the third quarter worth about $171,000. Barclays PLC boosted its position in shares of Icahn Enterprises by 24.3% in the third quarter. Barclays PLC now owns 7,307 shares of the conglomerate’s stock worth $100,000 after buying an additional 1,427 shares during the period. Finally, Geode Capital Management LLC grew its stake 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 valued at $5,518,000 after buying an additional 12,421 shares in the last quarter. 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.