Icahn Enterprises (NASDAQ:IEP) Stock Passes Below Two Hundred Day Moving Average – Here’s Why

Shares of Icahn Enterprises L.P. (NASDAQ:IEP) crossed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $7.85 and traded as low as $7.47. Icahn Enterprises shares last traded at $7.47, with a volume of 758,021 shares changing hands.

Wall Street Analyst Weigh In

Several analysts recently weighed in on IEP shares. Wall Street Zen downgraded Icahn Enterprises from a “buy” rating to a “hold” rating in a research note on Saturday, February 28th. Weiss Ratings restated a “sell (d-)” rating on shares of Icahn Enterprises in a research note on Friday, April 10th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce”.

Icahn Enterprises Price Performance

The company has a current ratio of 2.67, a quick ratio of 2.67 and a debt-to-equity ratio of 2.72. The company has a market cap of $5.02 billion, a PE ratio of -14.37 and a beta of 0.83. The firm has a 50 day moving average of $7.80 and a two-hundred day moving average of $7.85.

Icahn Enterprises (NASDAQ:IEP) last posted its quarterly earnings results on Wednesday, May 6th. The conglomerate reported ($0.71) earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.81). The company had revenue of $2.21 billion during the quarter, compared to analysts’ expectations of $2.33 billion. Icahn Enterprises had a negative return on equity of 10.27% and a negative net margin of 3.24%.

Icahn Enterprises Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 25th. Shareholders of record on Monday, May 18th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 26.8%. The ex-dividend date is Monday, May 18th. Icahn Enterprises’s dividend payout ratio (DPR) is currently -384.62%.

Institutional Trading of Icahn Enterprises

Institutional investors have recently added to or reduced their stakes in the business. Kestra Advisory Services LLC purchased a new stake in Icahn Enterprises during the 4th quarter valued at $35,000. Western Wealth Management LLC purchased a new stake in Icahn Enterprises during the 1st quarter valued at $47,000. Hilton Head Capital Partners LLC purchased a new stake in Icahn Enterprises during the 4th quarter valued at $80,000. Azzad Asset Management Inc. ADV purchased a new stake in Icahn Enterprises during the 3rd quarter valued at $88,000. Finally, Caz Investments LP boosted its stake in Icahn Enterprises by 12.5% during the 2nd quarter. Caz Investments LP now owns 11,254 shares of the conglomerate’s stock valued at $91,000 after purchasing an additional 1,254 shares during the last quarter. 87.09% of the stock is currently owned by hedge funds and other institutional investors.

About Icahn Enterprises

Icahn Enterprises L.P. (NASDAQ: IEP) is a diversified holding company based in New York City. Controlled by veteran investor Carl C. Icahn, the partnership makes strategic investments and owns wholly or partially controlled subsidiaries across a broad range of industries. With a flexible capital structure, Icahn Enterprises seeks to generate long-term value through active ownership, asset optimization and operational improvements.

The company reports its activities through five principal business segments.