Icahn Enterprises (NASDAQ:IEP) Reaches New 1-Year Low – Should You Sell?

Icahn Enterprises L.P. (NASDAQ:IEP) shares hit a new 52-week low on Monday . The stock traded as low as $7.05 and last traded at $6.9880, with a volume of 109272 shares. The stock had previously closed at $7.42.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Icahn Enterprises in a report on Wednesday, July 8th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company has an average rating of “Sell”.

Icahn Enterprises Trading Down 5.9%

The company has a quick ratio of 2.87, a current ratio of 2.87 and a debt-to-equity ratio of 2.98. The firm has a market capitalization of $4.96 billion, a P/E ratio of -9.43 and a beta of 0.79. The firm’s 50-day simple moving average is $7.45 and its 200-day simple moving average is $7.69.

Icahn Enterprises (NASDAQ:IEP) last issued its quarterly earnings results on Wednesday, August 5th. The conglomerate reported ($0.52) EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.63). The company had revenue of $2.98 billion during the quarter, compared to the consensus estimate of $2.04 billion. Icahn Enterprises had a negative return on equity of 17.99% and a negative net margin of 4.81%.

Icahn Enterprises Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 23rd. Shareholders of record on Monday, August 17th will be given a dividend of $0.50 per share. The ex-dividend date is Monday, August 17th. This represents a $2.00 dividend on an annualized basis and a yield of 28.7%. Icahn Enterprises’s dividend payout ratio (DPR) is presently -270.27%.

Hedge Funds Weigh In On Icahn Enterprises

Hedge funds and other institutional investors have recently modified their holdings of the company. Icahn Carl C grew its stake in shares of Icahn Enterprises by 5.9% during the fourth quarter. Icahn Carl C now owns 549,400,539 shares of the conglomerate’s stock valued at $4,147,974,000 after buying an additional 30,467,595 shares during the last quarter. Jump Financial LLC purchased a new position in shares of Icahn Enterprises in the fourth quarter worth $1,353,000. First Trust Advisors LP lifted its holdings in Icahn Enterprises by 22.1% in the 2nd quarter. First Trust Advisors LP now owns 884,514 shares of the conglomerate’s stock worth $7,116,000 after buying an additional 160,183 shares during the period. Invesco Ltd. purchased a new stake in Icahn Enterprises in the fourth quarter worth $1,074,000. Finally, Bank of America Corp DE grew its stake in Icahn Enterprises by 301.4% in the first quarter. Bank of America Corp DE now owns 108,724 shares of the conglomerate’s stock worth $821,000 after purchasing an additional 81,637 shares during the period. 87.09% of the stock is currently owned by hedge funds and other 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.