Shares of Icahn Enterprises L.P. (NASDAQ:IEP) have been assigned a consensus broker rating score of 1.00 (Strong Buy) from the one brokers that cover the stock, Zacks Investment Research reports. One research analyst has rated the stock with a strong buy recommendation. Icahn Enterprises L.P.’s rating score has improved by 66.7% in the last 90 days as a result of a number of analysts’ upgrades and downgrades.
Brokerages have set a 12-month consensus price objective of $40.00 for the company, according to Zacks. Zacks has also given Icahn Enterprises L.P. an industry rank of 52 out of 265 based on the ratings given to related companies.
IEP has been the subject of a number of analyst reports. BidaskClub upgraded Icahn Enterprises L.P. from a “hold” rating to a “buy” rating in a research note on Tuesday, July 11th. Jefferies Group LLC reissued a “buy” rating and set a $61.00 price objective on shares of Icahn Enterprises L.P. in a report on Wednesday, August 9th. Finally, TheStreet raised shares of Icahn Enterprises L.P. from a “d+” rating to a “c” rating in a report on Tuesday, August 8th.
Icahn Enterprises L.P. (NASDAQ IEP) traded down 0.31% during trading on Friday, hitting $55.40. The stock had a trading volume of 55,799 shares. The company has a 50-day moving average price of $53.46 and a 200-day moving average price of $51.50. The company has a market cap of $9.13 billion, a price-to-earnings ratio of 6.35 and a beta of 1.73. Icahn Enterprises L.P. has a 52-week low of $45.42 and a 52-week high of $64.80.
Icahn Enterprises L.P. (NASDAQ:IEP) last issued its quarterly earnings results on Tuesday, August 8th. The conglomerate reported $9.51 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.49 by $9.02. Icahn Enterprises L.P. had a return on equity of 15.51% and a net margin of 6.35%. The business had revenue of $6.65 billion during the quarter. Equities research analysts forecast that Icahn Enterprises L.P. will post $9.91 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Monday, August 14th were paid a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 10.83%. The ex-dividend date was Thursday, August 10th. Icahn Enterprises L.P.’s payout ratio is currently 38.22%.
Several hedge funds have recently added to or reduced their stakes in IEP. HighTower Advisors LLC purchased a new stake in Icahn Enterprises L.P. during the 2nd quarter worth approximately $1,774,000. Rafferty Asset Management LLC increased its position in shares of Icahn Enterprises L.P. by 8.8% in the 2nd quarter. Rafferty Asset Management LLC now owns 60,720 shares of the conglomerate’s stock valued at $3,137,000 after purchasing an additional 4,910 shares during the last quarter. Texas Yale Capital Corp. increased its position in shares of Icahn Enterprises L.P. by 2.2% in the 2nd quarter. Texas Yale Capital Corp. now owns 59,695 shares of the conglomerate’s stock valued at $3,084,000 after purchasing an additional 1,262 shares during the last quarter. IPG Investment Advisors LLC purchased a new stake in shares of Icahn Enterprises L.P. in the 2nd quarter valued at approximately $207,000. Finally, Citigroup Inc. increased its position in shares of Icahn Enterprises L.P. by 6.2% in the 2nd quarter. Citigroup Inc. now owns 5,900,594 shares of the conglomerate’s stock valued at $304,825,000 after purchasing an additional 344,402 shares during the last quarter. 96.83% of the stock is owned by institutional investors and hedge funds.
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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