Icahn Enterprises (NASDAQ:IEP) Stock Crosses Below 200-Day Moving Average – Should You Sell?

Shares of Icahn Enterprises L.P. (NASDAQ:IEP) crossed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $7.80 and traded as low as $7.39. Icahn Enterprises shares last traded at $7.41, with a volume of 942,825 shares.

Wall Street Analyst Weigh In

A number of brokerages recently commented on IEP. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Icahn Enterprises in a research note on Friday, April 10th. Wall Street Zen downgraded Icahn Enterprises from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Icahn Enterprises has an average rating of “Reduce”.

Icahn Enterprises Price Performance

The company has a quick ratio of 2.67, a current ratio of 2.67 and a debt-to-equity ratio of 2.72. The firm has a fifty day moving average price of $7.78 and a two-hundred day moving average price of $7.80. The stock has a market capitalization of $4.98 billion, a P/E ratio of -14.25 and a beta of 0.80.

Icahn Enterprises (NASDAQ:IEP) last issued 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). Icahn Enterprises had a negative net margin of 3.24% and a negative return on equity of 10.27%. The company had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $2.33 billion.

Icahn Enterprises Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 25th. Stockholders of record on Monday, May 18th will be issued a dividend of $0.50 per share. The ex-dividend date is Monday, May 18th. This represents a $2.00 annualized dividend and a dividend yield of 27.0%. Icahn Enterprises’s dividend payout ratio (DPR) is presently -384.62%.

Hedge Funds Weigh In On Icahn Enterprises

Several institutional investors and hedge funds have recently modified their holdings of IEP. Kestra Advisory Services LLC bought a new position in shares of Icahn Enterprises during the fourth quarter valued at $35,000. Western Wealth Management LLC bought a new position in shares of Icahn Enterprises during the first quarter valued at $47,000. Hilton Head Capital Partners LLC bought a new position in shares of Icahn Enterprises during the fourth quarter valued at $80,000. Azzad Asset Management Inc. ADV bought a new position in shares of Icahn Enterprises during the third quarter valued at $88,000. Finally, Caz Investments LP increased its holdings in shares of Icahn Enterprises by 12.5% during the second quarter. Caz Investments LP now owns 11,254 shares of the conglomerate’s stock valued at $91,000 after acquiring an additional 1,254 shares in the last quarter. 87.09% of the stock is currently owned by institutional investors.

Icahn Enterprises Company Profile

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.