An issue of Icahn Enterprises (NASDAQ:IEP) debt rose 1.7% as a percentage of its face value during trading on Tuesday. The high-yield issue of debt has a 6.375% coupon and will mature on December 15, 2025. The bonds in the issue are now trading at $103.70 and were trading at $101.63 one week ago. Price changes in a company’s debt in credit markets sometimes predict parallel changes in its share price.
A number of research analysts recently commented on IEP shares. BidaskClub raised shares of Icahn Enterprises from a “strong sell” rating to a “sell” rating in a research report on Wednesday, December 27th. UBS reaffirmed a “sell” rating and issued a $45.00 target price (up from $42.00) on shares of Icahn Enterprises in a research report on Tuesday, March 6th. Finally, ValuEngine raised shares of Icahn Enterprises from a “sell” rating to a “hold” rating in a research report on Monday, April 2nd. One research analyst has rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $53.00.
Shares of NASDAQ IEP traded down $0.80 during mid-day trading on Thursday, reaching $60.51. The company had a trading volume of 36,439 shares, compared to its average volume of 106,136. The company has a debt-to-equity ratio of 0.98, a current ratio of 3.98 and a quick ratio of 3.98. The company has a market capitalization of $10,760.03, a price-to-earnings ratio of 4.20 and a beta of 1.60. Icahn Enterprises has a 52-week low of $47.06 and a 52-week high of $63.00.
Icahn Enterprises (NASDAQ:IEP) last posted its earnings results on Thursday, March 1st. The conglomerate reported $1.72 EPS for the quarter, beating the Zacks’ consensus estimate of $0.56 by $1.16. The firm had revenue of $4.73 billion for the quarter. Icahn Enterprises had a net margin of 10.98% and a return on equity of 23.08%.
The business also recently announced a quarterly dividend, which was paid on Monday, April 16th. Investors of record on Monday, March 12th were given a $1.75 dividend. This represents a $7.00 dividend on an annualized basis and a dividend yield of 11.57%. This is an increase from Icahn Enterprises’s previous quarterly dividend of $1.50. The ex-dividend date was Friday, March 9th.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Sanders Morris Harris LLC grew its position in Icahn Enterprises by 29.1% during the 4th quarter. Sanders Morris Harris LLC now owns 78,510 shares of the conglomerate’s stock worth $4,162,000 after purchasing an additional 17,700 shares during the last quarter. Financial Advocates Investment Management purchased a new position in Icahn Enterprises during the 4th quarter worth $243,000. LPL Financial LLC grew its position in Icahn Enterprises by 11.5% during the 4th quarter. LPL Financial LLC now owns 9,883 shares of the conglomerate’s stock worth $524,000 after purchasing an additional 1,016 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. grew its position in Icahn Enterprises by 56.8% during the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 12,805 shares of the conglomerate’s stock worth $679,000 after purchasing an additional 4,640 shares during the last quarter. Finally, Raymond James & Associates grew its position in Icahn Enterprises by 2.3% during the 4th quarter. Raymond James & Associates now owns 92,319 shares of the conglomerate’s stock worth $4,894,000 after purchasing an additional 2,057 shares during the last quarter. 97.68% of the stock is currently owned by hedge funds and other institutional investors.
About Icahn Enterprises
Icahn Enterprises L.P., through its subsidiaries, operates in investment, automotive, energy, railcar, gaming, metals, mining, food packaging, real estate, and home fashion businesses in the United States, Germany, and Internationally. Its Investment segment operates various private investment funds.
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