Icahn Enterprises (NASDAQ:IEP) Sees Large Volume Increase

Shares of Icahn Enterprises L.P. (NASDAQ:IEP – Get Rating) saw unusually-high trading volume on Tuesday . Approximately 10,194 shares traded hands during trading, a decline of 98% from the previous session’s volume of 436,039 shares.The stock last traded at $54.06 and had previously closed at $53.72.

IEP has been the topic of several recent research reports. Zacks Investment Research lowered shares of Icahn Enterprises from a “hold” rating to a “strong sell” rating in a research report on Wednesday, March 2nd. StockNews.com initiated coverage on shares of Icahn Enterprises in a research report on Thursday, March 31st. They set a “hold” rating on the stock.

The company has a debt-to-equity ratio of 0.82, a current ratio of 7.61 and a quick ratio of 7.61. The firm has a fifty day simple moving average of $53.48 and a 200 day simple moving average of $53.37. The company has a market cap of $15.83 billion, a price-to-earnings ratio of -24.99 and a beta of 0.84.

Icahn Enterprises (NASDAQ:IEP – Get Rating) last announced its quarterly earnings results on Friday, February 25th. The conglomerate reported ($1.72) EPS for the quarter, missing the consensus estimate of $0.13 by ($1.85). Icahn Enterprises had a negative net margin of 5.10% and a negative return on equity of 5.32%. The company had revenue of $2.82 billion for the quarter, compared to analyst estimates of $2.75 billion. During the same quarter last year, the business earned $0.61 EPS. The company’s revenue for the quarter was up 51.1% on a year-over-year basis. Analysts expect that Icahn Enterprises L.P. will post 0.43 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 27th. Stockholders of record on Friday, March 18th will be paid a $2.00 dividend. The ex-dividend date is Thursday, March 17th. This represents a $8.00 annualized dividend and a dividend yield of 14.83%. Icahn Enterprises’s payout ratio is -372.09%.

Institutional investors have recently made changes to their positions in the company. Cetera Investment Advisers boosted its stake in Icahn Enterprises by 5.2% during the third quarter. Cetera Investment Advisers now owns 4,314 shares of the conglomerate’s stock worth $215,000 after buying an additional 212 shares in the last quarter. AdvisorNet Financial Inc boosted its stake in Icahn Enterprises by 1.2% during the first quarter. AdvisorNet Financial Inc now owns 18,431 shares of the conglomerate’s stock worth $957,000 after buying an additional 220 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Icahn Enterprises by 2.3% during the fourth quarter. JPMorgan Chase & Co. now owns 12,757 shares of the conglomerate’s stock worth $633,000 after buying an additional 287 shares in the last quarter. Fishman Jay A Ltd. MI boosted its stake in Icahn Enterprises by 0.5% during the third quarter. Fishman Jay A Ltd. MI now owns 72,977 shares of the conglomerate’s stock worth $3,645,000 after buying an additional 364 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its stake in Icahn Enterprises by 14.9% during the third quarter. PNC Financial Services Group Inc. now owns 3,330 shares of the conglomerate’s stock worth $166,000 after buying an additional 431 shares in the last quarter. Institutional investors and hedge funds own 90.04% of the company’s stock.

About Icahn Enterprises (NASDAQ:IEP)

Icahn Enterprises L.P., through its subsidiaries, operates in investment, energy, automotive, food packaging, real estate, home fashion, and pharma businesses in the United States and Internationally. Its Investment segment invests its proprietary capital through various private investment funds. The company's Energy segment refines and markets transportation fuels; and produces and markets nitrogen fertilizers in the form of urea ammonium nitrate and ammonia.

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