Icahn Enterprises (NASDAQ:IEP – Get Free Report) released its quarterly earnings results on Wednesday. The conglomerate reported ($0.31) EPS for the quarter, missing the consensus estimate of $0.09 by ($0.40), FiscalAI reports. Icahn Enterprises had a negative net margin of 4.81% and a negative return on equity of 17.99%. The business had revenue of $3.17 billion for the quarter, compared to analysts’ expectations of $2.33 billion.
Icahn Enterprises Price Performance
Shares of IEP traded down $0.02 during trading hours on Wednesday, reaching $5.33. 1,814,944 shares of the stock traded hands, compared to its average volume of 1,015,566. The company has a current ratio of 2.87, a quick ratio of 2.87 and a debt-to-equity ratio of 2.98. Icahn Enterprises has a 52-week low of $4.97 and a 52-week high of $9.32. The company’s 50-day moving average price is $6.56 and its two-hundred day moving average price is $7.39. The company has a market cap of $3.79 billion, a P/E ratio of -7.20 and a beta of 0.74.
Icahn Enterprises Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 23rd. Stockholders of record on Monday, November 16th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 37.5%. The ex-dividend date is Monday, November 16th. Icahn Enterprises’s dividend payout ratio (DPR) is presently -270.27%.
Wall Street Analyst Weigh In
Separately, Weiss Ratings downgraded shares of Icahn Enterprises from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, October 16th. One research analyst has rated the stock with a Sell rating. Based on data from MarketBeat, the stock currently has an average rating of “Sell”.
Read Our Latest Research Report on IEP
Icahn Enterprises News Roundup
Here are the key news stories impacting Icahn Enterprises this week:
- Positive Sentiment: Indicative net asset value rose about $865 million quarter over quarter to approximately $3.5 billion as of September 30, a potentially supportive sign for the partnership’s asset value. Third-quarter results
- Positive Sentiment: IEP reported receiving $645 million from the sale of Pep Boys, providing a substantial cash inflow. Its affiliate CVR Energy also announced a $4.2 billion acquisition of two refineries, which could expand its refining business. Long-term investor takeaways
- Neutral Sentiment: IEP declared a $0.50 quarterly distribution, or $2.00 annualized—equivalent to a reported yield of 37.4%. The payout may attract income-focused investors, but the unusually high yield also raises questions about how sustainable it is.
- Negative Sentiment: Third-quarter adjusted results were weak: IEP reported a $0.31-per-unit loss versus expectations for $0.09 in earnings. Revenue beat estimates, but a reported $522 million hedge loss appears to have overshadowed the top-line strength. Q3 earnings analysis
- Negative Sentiment: CVR Energy launched a $750 million share offering to help fund its refinery acquisition. The financing adds an equity issuance at an IEP-related business and could temper enthusiasm about the deal. CVR Energy share offering
Icahn Enterprises Company Profile
Icahn Enterprises L.P. (NASDAQ:IEP) is a diversified holding company managed by Icahn Capital LP. Its activities include making investments in public and private companies, pursuing activist investment strategies, and owning and operating businesses across several industries. The company is controlled by investor Carl C. Icahn, who serves as its chairman.
Its operating businesses have included petroleum refining and the production of nitrogen fertilizers through CVR Energy and CVR Partners, automotive parts distribution and repair services through Icahn Automotive, food packaging through Viskase Companies, and metal recycling through PSC Metals.
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