Icahn Enterprises (NASDAQ:IEP) Stock Price Down 3% – Should You Sell?

Icahn Enterprises L.P. (NASDAQ:IEP) shares dropped 3% during trading on Monday . The stock traded as low as $9.43 and last traded at $9.40. Approximately 327,680 shares changed hands during mid-day trading, a decline of 65% from the average daily volume of 931,386 shares. The stock had previously closed at $9.69.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded Icahn Enterprises from a “hold” rating to a “sell” rating in a research report on Sunday, March 16th.

Icahn Enterprises Stock Down 2.9 %

The business’s fifty day moving average price is $9.72 and its two-hundred day moving average price is $11.07. The company has a debt-to-equity ratio of 1.34, a quick ratio of 4.61 and a current ratio of 4.61. The firm has a market capitalization of $4.92 billion, a P/E ratio of -8.63 and a beta of 0.85.

Icahn Enterprises (NASDAQ:IEP) last released its quarterly earnings results on Wednesday, February 26th. The conglomerate reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.36). Icahn Enterprises had a negative return on equity of 8.82% and a negative net margin of 4.79%. The firm had revenue of $2.37 billion during the quarter, compared to analysts’ expectations of $2.27 billion. Equities analysts expect that Icahn Enterprises L.P. will post -0.55 earnings per share for the current fiscal year.

Icahn Enterprises Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 16th. Shareholders of record on Monday, March 10th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 21.25%. The ex-dividend date is Monday, March 10th. Icahn Enterprises’s dividend payout ratio (DPR) is presently -210.53%.

Hedge Funds Weigh In On Icahn Enterprises

Several hedge funds have recently modified their holdings of the stock. Wilmington Savings Fund Society FSB purchased a new stake in Icahn Enterprises during the 3rd quarter worth approximately $30,000. Mpwm Advisory Solutions LLC purchased a new stake in shares of Icahn Enterprises during the fourth quarter valued at $37,000. Global Retirement Partners LLC increased its position in shares of Icahn Enterprises by 18.1% in the 4th quarter. Global Retirement Partners LLC now owns 7,122 shares of the conglomerate’s stock valued at $62,000 after acquiring an additional 1,089 shares during the period. Caz Investments LP purchased a new position in Icahn Enterprises in the 4th quarter worth $87,000. Finally, BNP Paribas Financial Markets lifted its position in Icahn Enterprises by 40,056.0% during the 4th quarter. BNP Paribas Financial Markets now owns 10,039 shares of the conglomerate’s stock worth $87,000 after acquiring an additional 10,014 shares during the period. Institutional investors and hedge funds own 87.09% of the company’s stock.

About Icahn Enterprises

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.