Icahn Enterprises (NASDAQ:IEP) released its quarterly earnings results on Thursday. The conglomerate reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates of $0.91 by ($1.07), MarketWatch Earnings reports. Icahn Enterprises had a return on equity of 10.19% and a net margin of 6.84%. The firm had revenue of $2.69 billion for the quarter.
Shares of IEP stock traded up $0.74 during mid-day trading on Friday, hitting $69.74. 82,103 shares of the stock were exchanged, compared to its average volume of 85,943. The firm has a market cap of $13.55 billion, a price-to-earnings ratio of 10.69 and a beta of 1.32. Icahn Enterprises has a 12-month low of $51.01 and a 12-month high of $81.88. 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 also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 18th. Shareholders of record on Monday, November 12th will be issued a dividend of $1.75 per share. This represents a $7.00 annualized dividend and a dividend yield of 10.04%. The ex-dividend date is Thursday, November 8th.
Separately, BidaskClub upgraded Icahn Enterprises from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, August 7th.
Several hedge funds have recently modified their holdings of IEP. Lee Financial Co purchased a new position in shares of Icahn Enterprises during the third quarter worth about $151,000. Moloney Securities Asset Management LLC purchased a new position in shares of Icahn Enterprises during the second quarter worth about $249,000. Royal Bank of Canada grew its holdings in shares of Icahn Enterprises by 243.2% during the first quarter. Royal Bank of Canada now owns 4,939 shares of the conglomerate’s stock worth $282,000 after purchasing an additional 3,500 shares during the last quarter. Winslow Evans & Crocker Inc. purchased a new position in shares of Icahn Enterprises during the second quarter worth about $282,000. Finally, Private Advisor Group LLC purchased a new position in shares of Icahn Enterprises during the third quarter worth about $385,000. 96.66% of the stock is currently owned by institutional investors.
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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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