Icahn Enterprises L.P. (NASDAQ:IEP) released its quarterly earnings data on Tuesday, August 8th. The conglomerate reported $9.51 earnings per share for the quarter, beating the consensus estimate of $0.49 by $9.02, MarketWatch Earnings reports. Icahn Enterprises L.P. had a net margin of 6.35% and a return on equity of 15.51%. The firm had revenue of $6.65 billion during the quarter.
Icahn Enterprises L.P. (IEP) traded down 0.40% during trading on Friday, hitting $50.00. 81,792 shares of the company’s stock were exchanged. Icahn Enterprises L.P. has a 12-month low of $45.42 and a 12-month high of $64.80. The company’s 50-day moving average price is $52.35 and its 200 day moving average price is $51.99.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Monday, August 14th will be given a $1.50 dividend. The ex-dividend date is Thursday, August 10th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 12.00%. Icahn Enterprises L.P.’s payout ratio is currently 38.22%.
A number of brokerages have commented on IEP. BidaskClub cut shares of Icahn Enterprises L.P. from a “buy” rating to a “hold” rating in a report on Saturday, August 12th. TheStreet raised shares of Icahn Enterprises L.P. from a “d+” rating to a “c” rating in a report on Tuesday, August 8th. Jefferies Group LLC reaffirmed a “buy” rating and set a $61.00 target price on shares of Icahn Enterprises L.P. in a report on Wednesday, August 9th. Finally, ValuEngine raised shares of Icahn Enterprises L.P. from a “strong sell” rating to a “sell” rating in a report on Friday, June 2nd. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and one has issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $50.50.
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Several large investors have recently modified their holdings of IEP. Texas Yale Capital Corp. increased its stake in shares of Icahn Enterprises L.P. by 2.2% in the second quarter. Texas Yale Capital Corp. now owns 59,695 shares of the conglomerate’s stock worth $3,084,000 after buying an additional 1,262 shares during the period. IPG Investment Advisors LLC purchased a new stake in shares of Icahn Enterprises L.P. during the second quarter worth $207,000. GABELLI & Co INVESTMENT ADVISERS INC. increased its stake in shares of Icahn Enterprises L.P. by 8.3% in the second quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 7,500 shares of the conglomerate’s stock worth $387,000 after buying an additional 574 shares during the period. Global X Management Co. LLC increased its stake in shares of Icahn Enterprises L.P. by 4.2% in the second quarter. Global X Management Co. LLC now owns 2,420 shares of the conglomerate’s stock worth $125,000 after buying an additional 97 shares during the period. Finally, Moors & Cabot Inc. increased its stake in shares of Icahn Enterprises L.P. by 8.1% in the second quarter. Moors & Cabot Inc. now owns 5,788 shares of the conglomerate’s stock worth $299,000 after buying an additional 434 shares during the period. Institutional investors and hedge funds own 91.47% of the company’s stock.
About Icahn Enterprises L.P.
Icahn Enterprises L.P. (Icahn Enterprises) is a holding company. The Company’s segments include Automotive, Energy, Metals, Railcar, Gaming, Food Packaging, Mining, Real Estate and Home Fashion. The Company’s Investment segment includes various private investment funds. The Company operates its Automotive segment through its ownership in Federal-Mogul Holdings Corporation and IEH Auto Parts Holding LLC.
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