Icahn Enterprises (IEP) Debt Trading 0.9% Lower

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

Separately, BidaskClub lowered Icahn Enterprises from a “buy” rating to a “hold” rating in a research report on Thursday, September 6th.

Icahn Enterprises stock traded up $1.91 during mid-day trading on Thursday, hitting $67.57. The company had a trading volume of 54,414 shares, compared to its average volume of 97,453. The company has a current ratio of 5.84, a quick ratio of 5.84 and a debt-to-equity ratio of 0.64. Icahn Enterprises LP has a 12-month low of $51.01 and a 12-month high of $81.88. The firm has a market cap of $12.26 billion, a PE ratio of 20.33 and a beta of 1.32.

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

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 18th. Shareholders 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 annualized dividend and a yield of 10.36%.

Institutional investors have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC boosted its position in Icahn Enterprises by 741.5% in the 3rd quarter. Tower Research Capital LLC TRC now owns 1,725 shares of the conglomerate’s stock worth $100,000 after purchasing an additional 1,520 shares in the last quarter. Lee Financial Co acquired a new position in shares of Icahn Enterprises during the 3rd quarter worth approximately $151,000. Moloney Securities Asset Management LLC acquired a new position in shares of Icahn Enterprises during the 2nd quarter worth approximately $249,000. Royal Bank of Canada raised its stake 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. Finally, Jane Street Group LLC acquired a new position in shares of Icahn Enterprises during the 3rd quarter worth approximately $359,000. Institutional investors and hedge funds own 94.41% of the company’s stock.

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Icahn Enterprises Company Profile (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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