Icahn Enterprises (NASDAQ:IEP) Share Price Crosses Below 200-Day Moving Average – Here’s What Happened

Icahn Enterprises L.P. (NASDAQ:IEP) passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $12.98 and traded as low as $9.50. Icahn Enterprises shares last traded at $9.85, with a volume of 830,706 shares changing hands.

Icahn Enterprises Stock Down 0.5 %

The company has a debt-to-equity ratio of 1.34, a current ratio of 4.61 and a quick ratio of 4.61. The firm has a market capitalization of $4.94 billion, a price-to-earnings ratio of -8.99 and a beta of 0.80. The firm’s 50-day moving average price is $9.92 and its 200 day moving average price is $12.91.

Icahn Enterprises (NASDAQ:IEP) last released its quarterly earnings results on Friday, November 8th. The conglomerate reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.16). The company had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.32 billion. Icahn Enterprises had a negative return on equity of 8.82% and a negative net margin of 4.79%. During the same period last year, the firm earned ($0.01) earnings per share. Sell-side analysts expect that Icahn Enterprises L.P. will post -0.55 EPS for the current year.

Icahn Enterprises Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 26th. Shareholders of record on Monday, November 18th were issued a $0.50 dividend. The ex-dividend date was Monday, November 18th. This represents a $2.00 dividend on an annualized basis and a yield of 20.41%. Icahn Enterprises’s dividend payout ratio (DPR) is -183.48%.

Institutional Trading of Icahn Enterprises

Hedge funds and other institutional investors have recently bought and sold shares of the company. Geode Capital Management LLC lifted its stake in shares of Icahn Enterprises by 3.1% during the 3rd quarter. Geode Capital Management LLC now owns 408,157 shares of the conglomerate’s stock worth $5,518,000 after purchasing an additional 12,421 shares during the period. Creative Planning increased its stake in Icahn Enterprises by 15.8% in the second quarter. Creative Planning now owns 108,372 shares of the conglomerate’s stock valued at $1,786,000 after purchasing an additional 14,805 shares during the last quarter. Griffin Asset Management Inc. lifted its position in Icahn Enterprises by 7.8% during the third quarter. Griffin Asset Management Inc. now owns 39,970 shares of the conglomerate’s stock worth $540,000 after buying an additional 2,887 shares during the period. Merit Financial Group LLC acquired a new stake in Icahn Enterprises in the 4th quarter worth about $343,000. Finally, PSI Advisors LLC boosted its stake in Icahn Enterprises by 4.8% in the 3rd quarter. PSI Advisors LLC now owns 31,510 shares of the conglomerate’s stock worth $426,000 after buying an additional 1,455 shares during the last quarter. 87.09% of the stock is 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.