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

Icahn Enterprises L.P. (NASDAQ:IEP)’s stock price 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 changing hands.

Icahn Enterprises Stock Performance

The firm has a fifty day moving average of $15.38 and a 200 day moving average of $16.52. The company has a debt-to-equity ratio of 1.23, a current ratio of 4.85 and a quick ratio of 4.85. The stock has a market capitalization of $5.33 billion, a price-to-earnings ratio of -10.00 and a beta of 0.77.

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

Icahn Enterprises Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 25th. Investors of record on Monday, August 19th will be given a dividend of $1.00 per share. The ex-dividend date of this dividend is Monday, August 19th. This represents a $4.00 annualized dividend and a dividend yield of 33.84%. Icahn Enterprises’s dividend payout ratio (DPR) is presently -347.83%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets raised its position in shares of Icahn Enterprises by 76.4% in the first quarter. BNP Paribas Financial Markets now owns 314,888 shares of the conglomerate’s stock valued at $5,356,000 after buying an additional 136,418 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in Icahn Enterprises by 621.0% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 270,995 shares of the conglomerate’s stock worth $4,610,000 after purchasing an additional 233,410 shares in the last quarter. Commonwealth Equity Services LLC boosted its holdings in shares of Icahn Enterprises by 6.1% during the 2nd quarter. Commonwealth Equity Services LLC now owns 109,724 shares of the conglomerate’s stock worth $1,808,000 after purchasing an additional 6,276 shares during the last quarter. Creative Planning grew its position in shares of 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 in the last quarter. Finally, Advisory Services Network LLC increased its holdings in shares of Icahn Enterprises by 24.3% in the fourth quarter. Advisory Services Network LLC now owns 49,464 shares of the conglomerate’s stock valued at $850,000 after purchasing an additional 9,668 shares during the last quarter. Hedge funds and other 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.