Zacks: Icahn Enterprises LP (IEP) Receives Consensus Recommendation of “Strong Sell” from Brokerages

Shares of Icahn Enterprises LP (NASDAQ:IEP) have been assigned a consensus broker rating score of 5.00 (Strong Sell) from the one analysts that provide coverage for the company, Zacks Investment Research reports. One research analyst has rated the stock with a strong sell recommendation.

Brokerages have set a one year consensus price objective of $45.00 for the company, according to Zacks. Zacks has also given Icahn Enterprises an industry rank of 112 out of 255 based on the ratings given to its competitors.

A number of brokerages have issued reports on IEP. BidaskClub lowered shares of Icahn Enterprises from a “buy” rating to a “hold” rating in a report on Thursday, September 6th. ValuEngine raised shares of Icahn Enterprises from a “hold” rating to a “buy” rating in a report on Saturday, June 2nd.

A number of institutional investors and hedge funds have recently bought and sold shares of IEP. LPL Financial LLC grew its stake in shares of Icahn Enterprises by 423.6% during the first quarter. LPL Financial LLC now owns 51,752 shares of the conglomerate’s stock worth $2,952,000 after acquiring an additional 41,869 shares during the last quarter. California Public Employees Retirement System raised its stake in shares of Icahn Enterprises by 79.0% during the 2nd quarter. California Public Employees Retirement System now owns 25,615 shares of the conglomerate’s stock worth $1,820,000 after buying an additional 11,303 shares during the period. Cetera Advisors LLC acquired a new position in shares of Icahn Enterprises during the 1st quarter worth approximately $581,000. Baldwin Investment Management LLC purchased a new stake in shares of Icahn Enterprises during the second quarter worth approximately $631,000. Finally, Commonwealth Equity Services LLC increased its position in shares of Icahn Enterprises by 74.0% during the second quarter. Commonwealth Equity Services LLC now owns 17,868 shares of the conglomerate’s stock worth $1,270,000 after purchasing an additional 7,600 shares in the last quarter. Institutional investors own 96.65% of the company’s stock.

IEP stock traded up $2.32 during trading on Tuesday, hitting $71.09. 95,100 shares of the stock traded hands, compared to its average volume of 111,961. The company has a debt-to-equity ratio of 0.63, a quick ratio of 5.49 and a current ratio of 5.49. The company has a market capitalization of $12.53 billion, a price-to-earnings ratio of 9.88 and a beta of 1.60. Icahn Enterprises has a 1 year low of $51.01 and a 1 year high of $81.88.

Icahn Enterprises (NASDAQ:IEP) last issued its quarterly earnings data on Thursday, August 2nd. The conglomerate reported $0.90 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.34. Icahn Enterprises had a net margin of 6.84% and a return on equity of 10.19%. The firm had revenue of $3.58 billion for the quarter.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 18th. Investors of record on Monday, August 13th were issued a $1.75 dividend. The ex-dividend date of this dividend was Friday, August 10th. This represents a $7.00 annualized dividend and a dividend yield of 9.85%.

About Icahn Enterprises

Icahn Enterprises L.P., through its subsidiaries, operates in investment, automotive, energy, railcar, gaming, metals, mining, food packaging, real estate, and home fashion businesses in the United States, Germany, and Internationally. Its Investment segment operates various private investment funds.

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