Icahn Enterprises (IEP) Upgraded by BidaskClub to “Buy”

BidaskClub upgraded shares of Icahn Enterprises (NASDAQ:IEP) from a hold rating to a buy rating in a research report report published on Tuesday morning.

Shares of IEP stock opened at $67.62 on Tuesday. Icahn Enterprises has a twelve month low of $51.01 and a twelve month high of $81.88. The firm has a market capitalization of $12.74 billion, a price-to-earnings ratio of 9.77 and a beta of 1.57. The company has a debt-to-equity ratio of 0.63, a current ratio of 5.49 and a quick ratio of 5.49.

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 analysts’ consensus estimates of $0.56 by $0.34. The firm had revenue of $3.58 billion during the quarter. Icahn Enterprises had a return on equity of 10.19% and a net margin of 6.84%.

Several hedge funds and other institutional investors have recently modified their holdings of IEP. Mckinley Capital Management LLC Delaware raised its stake in Icahn Enterprises by 5.4% in the second quarter. Mckinley Capital Management LLC Delaware now owns 26,329 shares of the conglomerate’s stock valued at $1,871,000 after buying an additional 1,360 shares during the last quarter. California Public Employees Retirement System raised its stake in Icahn Enterprises by 79.0% in the second quarter. California Public Employees Retirement System now owns 25,615 shares of the conglomerate’s stock valued at $1,820,000 after buying an additional 11,303 shares during the last quarter. Commonwealth Equity Services LLC raised its stake in Icahn Enterprises by 74.0% in the second quarter. Commonwealth Equity Services LLC now owns 17,868 shares of the conglomerate’s stock valued at $1,270,000 after buying an additional 7,600 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in Icahn Enterprises by 19.5% in the second quarter. PNC Financial Services Group Inc. now owns 15,294 shares of the conglomerate’s stock valued at $1,086,000 after buying an additional 2,492 shares during the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. raised its stake in Icahn Enterprises by 8.0% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 13,835 shares of the conglomerate’s stock valued at $790,000 after buying an additional 1,030 shares during the last quarter. Hedge funds and other institutional investors own 96.66% of the company’s stock.

Icahn Enterprises Company Profile

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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