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IEP’s -30.97% Loss This Week Has Revealed Something We Didn’t Know Before

During the last session, Icahn Enterprises L.P. (NASDAQ:IEP)’s traded shares were 6.86 million, with the beta value of the company hitting 0.76. At the end of the trading day, the stock’s price was $23.94, reflecting an intraday loss of -13.39% or -$3.7. The 52-week high for the IEP share is $55.16, that puts it down -130.41 from that peak though still a striking -11.36% loss since the share price plummeted to a 52-week low of $26.66. The company’s market capitalization is $9.52B, and the average intraday trading volume over the past 10 days was 3.33 million shares, and the average trade volume was 2.02 million shares over the past three months.

Icahn Enterprises L.P. (IEP) received a consensus recommendation of a Buy from analysts. That translates to a mean rating of 1.00. IEP has a Sell rating from 0 analyst(s) out of 1 analysts who have looked at this stock. 0 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 1 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be $0.25.

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Icahn Enterprises L.P. (NASDAQ:IEP) trade information

Icahn Enterprises L.P. (IEP) registered a -13.39% downside in the last session and has traded in the red over the past 5 sessions. The stock plummet -13.39% in intraday trading to $23.94 this Wednesday, 05/24/23, hitting a weekly high. The stock’s 5-day price performance is -30.97%, and it has moved by -53.49% in 30 days. Based on these gigs, the overall price performance for the year is -53.40%. The short interest in Icahn Enterprises L.P. (NASDAQ:IEP) is 4.53 million shares and it means that shorts have 1.07 day(s) to cover.

The consensus price target of analysts on Wall Street is $43.00, which implies an increase of 44.33% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $43.00 and $43.00 respectively. As a result, IEP is trading at a discount of -79.62% off the target high and -79.62% off the low.

Icahn Enterprises L.P. (IEP) estimates and forecasts

Statistics show that Icahn Enterprises L.P. has outperformed its competitors in share price, compared to the industry in which it operates. Icahn Enterprises L.P. (IEP) shares have gone down -53.29% during the last six months, with a year-to-date growth rate more than the industry average at 117.54% against -6.50. Yet analysts are ramping up their growth forecast for the fiscal year 2023. Revenue is predicted to grow 161.00% this quarter and then jump 175.70% in the quarter after that. In the rating firms’ projections, revenue will decrease -19.50% compared to the previous financial year.

Revenue for the current quarter is expected to be $2.66 billion as predicted by 1 analyst(s). Meanwhile, a consensus of 1 analyst(s) estimates revenue growth to $2.66 billion by the end of Sep 2023. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $3.8 billion and $2.77 billion respectively. In this case, analysts expect current quarter sales to shrink by -30.00% and then drop by -3.80% in the coming quarter.

An analysis of the company’s performance over the past 5 years shows that the company’s earnings shrunk an estimated -15.50%. While earnings are projected to return 75.60% in 2023.

IEP Dividends

Icahn Enterprises L.P. is due to release its next quarterly earnings between August 02 and August 07. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance. Investors should also take the other fundamental and operational aspects into account before investing in the stock. The forward dividend ratio for Icahn Enterprises L.P. is 8.00, with the dividend yield indicating at 33.42 percent, continuing the trend of increasing dividends in recent years.

Icahn Enterprises L.P. (NASDAQ:IEP)’s Major holders

Icahn Enterprises L.P. insiders own 0.16% of total outstanding shares while institutional holders control 89.71%, with the float percentage being 89.85%. Icahn Carl C is the largest shareholder of the company, while 189 institutions own stock in it. As of Mar 30, 2023, the company held over 300.0 million shares (or 81.26% of all shares), a total value of $7.18 billion in shares.

The next largest institutional holding, with 0.43 million shares, is of Horizon Kinetics Asset Management LLC’s that is approximately 0.12% of outstanding shares. At the market price on Mar 30, 2023, these shares were valued at $10.24 million.

Also, the Mutual Funds coming in first place with the largest holdings of Icahn Enterprises L.P. (IEP) shares are Global X Fds-Global X SuperDividend U.S. ETF and Kinetics Portfolio Trust-Kinetics Master New Paradigm Portfolio. Data provided on Mar 30, 2023 indicates that Global X Fds-Global X SuperDividend U.S. ETF owns about 0.25 million shares. This amounts to just over 0.07 percent of the company’s overall shares, with a $5.95 million market value. The same data shows that the other fund manager holds slightly less at 0.23 million, or about 0.07% of the stock, which is worth about $5.52 million.

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