Icahn Enterprises (IEP) Releases Earnings Results, Misses Estimates By $1.07 EPS

Icahn Enterprises (NASDAQ:IEP) posted its 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. The firm had revenue of $2.69 billion for the quarter. Icahn Enterprises had a net margin of 6.84% and a return on equity of 10.19%.

IEP traded up $0.74 during trading on Friday, reaching $69.74. The company had a trading volume of 82,103 shares, compared to its average volume of 85,943. The company has a market cap of $13.55 billion, a PE ratio of 10.69 and a beta of 1.32. Icahn Enterprises has a 52 week low of $51.01 and a 52 week high of $81.88. The company has a quick ratio of 5.49, a current ratio of 5.49 and a debt-to-equity ratio of 0.63.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 18th. Investors of record on Monday, November 12th will be given a $1.75 dividend. The ex-dividend date is Thursday, November 8th. This represents a $7.00 dividend on an annualized basis and a yield of 10.04%.

A number of institutional investors and hedge funds have recently modified their holdings of IEP. California Public Employees Retirement System lifted its position in Icahn Enterprises by 40.8% in the first quarter. California Public Employees Retirement System now owns 14,312 shares of the conglomerate’s stock worth $816,000 after buying an additional 4,148 shares during the last quarter. Royal Bank of Canada lifted its position in Icahn Enterprises by 243.2% in the first quarter. Royal Bank of Canada now owns 4,939 shares of the conglomerate’s stock worth $282,000 after buying an additional 3,500 shares during the last quarter. Mckinley Capital Management LLC Delaware increased 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 worth $1,871,000 after purchasing an additional 1,360 shares during the period. Winslow Evans & Crocker Inc. purchased a new stake in Icahn Enterprises in the second quarter worth $282,000. Finally, Moloney Securities Asset Management LLC purchased a new stake in Icahn Enterprises in the second quarter worth $249,000. Institutional investors own 96.66% of the company’s stock.

Separately, BidaskClub downgraded Icahn Enterprises from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 25th.

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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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Earnings History for Icahn Enterprises (NASDAQ:IEP)

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