Icahn Enterprises (NASDAQ:IEP) Downgraded by StockNews.com to “Sell”

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

Icahn Enterprises Stock Performance

Shares of IEP opened at $9.50 on Friday. The company has a debt-to-equity ratio of 1.34, a current ratio of 4.61 and a quick ratio of 4.61. Icahn Enterprises has a one year low of $8.53 and a one year high of $19.10. The firm has a market capitalization of $4.97 billion, a P/E ratio of -8.72 and a beta of 0.85. The business has a fifty day moving average of $9.68 and a 200 day moving average of $11.21.

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 net margin of 4.79% and a negative return on equity of 8.82%. The company had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.27 billion. As a group, sell-side analysts anticipate that Icahn Enterprises will post -0.55 EPS for the current year.

Institutional Investors Weigh In On Icahn Enterprises

Hedge funds have recently made changes to their positions in the company. Wilmington Savings Fund Society FSB purchased a new stake in shares of Icahn Enterprises in the third quarter worth about $30,000. Mpwm Advisory Solutions LLC purchased a new stake in Icahn Enterprises during the fourth quarter valued at approximately $37,000. Global Retirement Partners LLC raised its position in Icahn Enterprises by 18.1% during the fourth quarter. Global Retirement Partners LLC now owns 7,122 shares of the conglomerate’s stock valued at $62,000 after purchasing an additional 1,089 shares during the period. Caz Investments LP purchased a new stake in Icahn Enterprises during the fourth quarter valued at approximately $87,000. Finally, BNP Paribas Financial Markets raised its position in Icahn Enterprises by 40,056.0% during the fourth quarter. BNP Paribas Financial Markets now owns 10,039 shares of the conglomerate’s stock valued at $87,000 after purchasing an additional 10,014 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., 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.