Icahn Enterprises (NASDAQ:IEP) Stock Price Down 3.5%

Icahn Enterprises L.P. (NASDAQ:IEP)’s share price traded down 3.5% during mid-day trading on Thursday . The stock traded as low as $12.96 and last traded at $12.98. 432,362 shares changed hands during mid-day trading, a decline of 50% from the average session volume of 865,150 shares. The stock had previously closed at $13.45.

Icahn Enterprises Stock Performance

The stock has a market cap of $5.84 billion, a P/E ratio of -11.25 and a beta of 0.77. The company has a debt-to-equity ratio of 1.23, a current ratio of 4.85 and a quick ratio of 4.85. The company has a fifty day moving average of $14.99 and a 200 day moving average of $16.33.

Icahn Enterprises (NASDAQ:IEP) last posted its quarterly earnings data on Wednesday, August 7th. The conglomerate reported ($0.72) EPS for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.91). Icahn Enterprises had a negative return on equity of 8.62% and a negative net margin of 4.97%. The firm had revenue of $2.36 billion during the quarter, compared to the consensus estimate of $2.24 billion. During the same period in the prior year, the firm posted ($0.72) EPS. On average, equities analysts predict that Icahn Enterprises L.P. will post -0.42 earnings per share for the current fiscal year.

Icahn Enterprises Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 25th. Investors of record on Monday, August 19th will be paid a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 30.91%. The ex-dividend date of this dividend is Monday, August 19th. Icahn Enterprises’s dividend payout ratio is presently -347.83%.

Institutional Investors Weigh In On Icahn Enterprises

Institutional investors and hedge funds have recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. lifted its stake in Icahn Enterprises by 621.0% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 270,995 shares of the conglomerate’s stock worth $4,610,000 after acquiring an additional 233,410 shares in the last quarter. BNP Paribas Financial Markets lifted its position in shares of Icahn Enterprises by 76.4% in the first quarter. BNP Paribas Financial Markets now owns 314,888 shares of the conglomerate’s stock worth $5,356,000 after purchasing an additional 136,418 shares in the last quarter. Crew Capital Management Ltd. purchased a new position in Icahn Enterprises during the second quarter valued at approximately $628,000. Commonwealth Equity Services LLC increased its stake in Icahn Enterprises by 49.0% in the 1st quarter. Commonwealth Equity Services LLC now owns 103,448 shares of the conglomerate’s stock valued at $1,760,000 after buying an additional 34,003 shares during the period. Finally, Avantax Advisory Services Inc. purchased a new stake in Icahn Enterprises in the 4th quarter worth approximately $375,000. Institutional investors and hedge funds own 87.09% of the company’s stock.

Icahn Enterprises Company Profile

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.