StockNews.com Downgrades Icahn Enterprises (NASDAQ:IEP) to Sell

Icahn Enterprises (NASDAQ:IEP) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a research note issued to investors on Sunday.

Icahn Enterprises Price Performance

Shares of NASDAQ IEP opened at $9.64 on Friday. The firm has a market cap of $5.04 billion, a P/E ratio of -8.84 and a beta of 0.85. The business’s 50 day moving average is $9.69 and its 200-day moving average is $11.17. The company has a current ratio of 4.61, a quick ratio of 4.61 and a debt-to-equity ratio of 1.34. Icahn Enterprises has a 1-year low of $8.53 and a 1-year high of $19.10.

Icahn Enterprises (NASDAQ:IEP) last posted its earnings results on Wednesday, February 26th. The conglomerate reported ($0.19) earnings per share for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $2.27 billion. Equities research analysts predict that Icahn Enterprises will post -0.55 earnings per share for the current year.

Hedge Funds Weigh In On Icahn Enterprises

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wilmington Savings Fund Society FSB bought a new stake in Icahn Enterprises during the third quarter worth $30,000. Mpwm Advisory Solutions LLC acquired a new position in shares of Icahn Enterprises during the 4th quarter worth $37,000. Global Retirement Partners LLC lifted its position in shares of Icahn Enterprises by 18.1% during the 4th quarter. Global Retirement Partners LLC now owns 7,122 shares of the conglomerate’s stock worth $62,000 after buying an additional 1,089 shares during the last quarter. Caz Investments LP acquired a new stake in Icahn Enterprises in the fourth quarter valued at about $87,000. Finally, BNP Paribas Financial Markets boosted its stake in Icahn Enterprises by 40,056.0% in the fourth quarter. BNP Paribas Financial Markets now owns 10,039 shares of the conglomerate’s stock valued at $87,000 after buying an additional 10,014 shares in the last quarter. 87.09% of the stock is owned by institutional investors and hedge funds.

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.