Icahn Enterprises (NASDAQ:IEP) Shares Gap Up to $10.80

Shares of Icahn Enterprises L.P. (NASDAQ:IEP) gapped up prior to trading on Monday . The stock had previously closed at $10.80, but opened at $11.46. Icahn Enterprises shares last traded at $11.44, with a volume of 317,424 shares.

Icahn Enterprises Stock Performance

The stock has a market capitalization of $6.02 billion, a price-to-earnings ratio of -11.61 and a beta of 0.77. The company has a 50 day simple moving average of $15.21 and a 200-day simple moving average of $16.42. The company has a quick ratio of 4.85, a current ratio of 4.85 and a debt-to-equity ratio of 1.23.

Icahn Enterprises (NASDAQ:IEP) last released its earnings results on Wednesday, August 7th. The conglomerate reported ($0.72) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.91). The company had revenue of $2.36 billion for the quarter, compared to analyst estimates of $2.24 billion. Icahn Enterprises had a negative net margin of 4.97% and a negative return on equity of 8.62%. During the same quarter in the previous year, the firm earned ($0.72) EPS. As a group, equities research analysts expect that Icahn Enterprises L.P. will post -0.42 EPS for the current fiscal year.

Icahn Enterprises Dividend Announcement

The company also recently declared 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 dividend on an annualized basis and a yield of 29.96%. The ex-dividend date of this dividend is Monday, August 19th. Icahn Enterprises’s dividend payout ratio (DPR) is currently -347.83%.

Institutional Investors Weigh In On Icahn Enterprises

Several hedge funds and other institutional investors have recently made changes to their positions in IEP. Spire Wealth Management raised its holdings in shares of Icahn Enterprises by 100.0% in the first quarter. Spire Wealth Management now owns 2,000 shares of the conglomerate’s stock valued at $34,000 after purchasing an additional 1,000 shares during the last quarter. Parallel Advisors LLC increased its position in shares of Icahn Enterprises by 133.0% during the fourth quarter. Parallel Advisors LLC now owns 2,006 shares of the conglomerate’s stock valued at $34,000 after acquiring an additional 1,145 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in Icahn Enterprises by 61.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,845 shares of the conglomerate’s stock valued at $47,000 after purchasing an additional 1,083 shares during the period. Newbridge Financial Services Group Inc. increased its holdings in Icahn Enterprises by 35.1% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 8,579 shares of the conglomerate’s stock worth $147,000 after buying an additional 2,227 shares during the last quarter. Finally, Vima LLC purchased a new position in Icahn Enterprises in the fourth quarter valued at about $167,000. 87.09% of the stock is owned by 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.