BidaskClub Lowers Icahn Enterprises (IEP) to Sell

BidaskClub downgraded shares of Icahn Enterprises (NASDAQ:IEP) from a hold rating to a sell rating in a research note released on Tuesday, BidAskClub reports.

IEP stock opened at $74.65 on Tuesday. The company has a current ratio of 8.55, a quick ratio of 8.55 and a debt-to-equity ratio of 0.57. Icahn Enterprises has a one year low of $50.33 and a one year high of $81.88.

Icahn Enterprises (NASDAQ:IEP) last released its quarterly earnings results on Thursday, February 28th. The conglomerate reported $8.03 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $5.83 by $2.20. Icahn Enterprises had a net margin of 10.39% and a negative return on equity of 1.31%.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 17th. Shareholders of record on Monday, March 11th will be issued a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a yield of 10.72%. This is an increase from Icahn Enterprises’s previous quarterly dividend of $1.75. The ex-dividend date is Friday, March 8th.

In related news, Director Jack Gumpert Wasserman acquired 500 shares of the firm’s stock in a transaction on Tuesday, March 5th. The shares were acquired at an average cost of $77.81 per share, with a total value of $38,905.00. Following the completion of the acquisition, the director now directly owns 1,562 shares in the company, valued at approximately $121,539.22. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 90.10% of the company’s stock.

Several large investors have recently bought and sold shares of IEP. Ffcm LLC lifted its stake in shares of Icahn Enterprises by 50.0% in the fourth quarter. Ffcm LLC now owns 480 shares of the conglomerate’s stock worth $27,000 after buying an additional 160 shares in the last quarter. Signet Investment Advisory Group Inc. purchased a new position in shares of Icahn Enterprises in the fourth quarter worth about $28,000. Westside Investment Management Inc. purchased a new position in shares of Icahn Enterprises in the fourth quarter worth about $57,000. Tower Research Capital LLC TRC lifted its stake in shares of Icahn Enterprises by 741.5% in the third quarter. Tower Research Capital LLC TRC now owns 1,725 shares of the conglomerate’s stock worth $100,000 after buying an additional 1,520 shares in the last quarter. Finally, Belpointe Asset Management LLC purchased a new position in shares of Icahn Enterprises in the third quarter worth about $170,000. 96.77% of the stock is currently owned by hedge funds and other institutional investors.

About Icahn Enterprises

Icahn Enterprises L.P., through its subsidiaries, operates in investment, energy, automotive, food packaging, metals, real estate, home fashion, and mining businesses in the United States and Internationally. Its Investment segment operates various private investment funds. The company's Automotive segment is involved in the retail and wholesale distribution of automotive parts in the aftermarket, as well as offers automotive repair and maintenance services.

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