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

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

Icahn Enterprises Trading Up 7.1 %

IEP opened at $9.50 on Friday. The stock has a market cap of $4.97 billion, a price-to-earnings ratio of -8.72 and a beta of 0.85. The stock’s 50 day moving average price is $9.68 and its 200-day moving average price is $11.21. Icahn Enterprises has a one year low of $8.53 and a one year high of $19.10. The company has a debt-to-equity ratio of 1.34, a quick ratio of 4.61 and a current ratio of 4.61.

Icahn Enterprises (NASDAQ:IEP) last released its earnings results on Wednesday, February 26th. The conglomerate reported ($0.19) EPS for the quarter, missing analysts’ consensus estimates 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 business had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.27 billion. On average, equities analysts forecast that Icahn Enterprises will post -0.55 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of IEP. Icahn Carl C grew its stake in Icahn Enterprises by 4.1% in the fourth quarter. Icahn Carl C now owns 450,788,170 shares of the conglomerate’s stock worth $3,908,333,000 after purchasing an additional 17,581,237 shares in the last quarter. First Trust Advisors LP lifted its holdings in Icahn Enterprises by 26.2% during the fourth quarter. First Trust Advisors LP now owns 660,077 shares of the conglomerate’s stock worth $5,723,000 after buying an additional 137,012 shares during the period. Raymond James Financial Inc. purchased a new stake in Icahn Enterprises during the fourth quarter worth $969,000. Virtu Financial LLC purchased a new stake in Icahn Enterprises during the fourth quarter worth $856,000. Finally, Axxcess Wealth Management LLC purchased a new stake in Icahn Enterprises during the fourth quarter worth $447,000. Institutional investors own 87.09% of the company’s stock.

About Icahn Enterprises

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.