Icahn Enterprises (IEP) Bonds Drop 0.9% During Trading

An issue of Icahn Enterprises LP (NASDAQ:IEP) debt fell 0.9% as a percentage of its face value during trading on Thursday. The high-yield debt issue has a 5.875% coupon and is set to mature on February 1, 2022. The debt is now trading at $99.12 and was trading at $100.25 one week ago. Price moves in a company’s debt in credit markets often anticipate parallel moves in its share price.

Separately, BidaskClub downgraded shares of Icahn Enterprises from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 22nd.

Shares of IEP opened at $65.75 on Friday. Icahn Enterprises LP has a one year low of $51.01 and a one year high of $81.88. The stock has a market capitalization of $12.61 billion, a PE ratio of 20.92 and a beta of 1.32. The company has a quick ratio of 5.84, a current ratio of 5.84 and a debt-to-equity ratio of 0.64.

Icahn Enterprises (NASDAQ:IEP) last announced its quarterly earnings data on Thursday, November 8th. The conglomerate reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates of $0.91 by ($1.07). Icahn Enterprises had a net margin of 5.29% and a return on equity of 4.76%. The firm had revenue of $2.69 billion during the quarter.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 18th. Investors 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 10.65%. The ex-dividend date is Thursday, November 8th.

Several hedge funds have recently made changes to their positions in IEP. Tower Research Capital LLC TRC boosted its holdings in shares of Icahn Enterprises by 741.5% during the 3rd quarter. Tower Research Capital LLC TRC now owns 1,725 shares of the conglomerate’s stock worth $100,000 after buying an additional 1,520 shares during the period. Lee Financial Co bought a new stake in shares of Icahn Enterprises during the 3rd quarter worth about $151,000. Belpointe Asset Management LLC bought a new stake in shares of Icahn Enterprises during the 3rd quarter worth about $170,000. Moloney Securities Asset Management LLC bought a new stake in shares of Icahn Enterprises during the 2nd quarter worth about $249,000. Finally, Royal Bank of Canada boosted its holdings in shares of Icahn Enterprises by 243.2% during the 1st 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 period. 94.41% of the stock is owned by institutional investors and hedge funds.

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About Icahn Enterprises (NASDAQ:IEP)

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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