Icahn Enterprises L.P. Plans Quarterly Dividend of $2.00 (NASDAQ:IEP)

Icahn Enterprises L.P. (NASDAQ:IEPGet Rating) declared a quarterly dividend on Monday, May 9th, Wall Street Journal reports. Shareholders of record on Friday, May 20th will be paid a dividend of 2.00 per share by the conglomerate on Wednesday, June 29th. This represents a $8.00 annualized dividend and a yield of 15.21%. The ex-dividend date of this dividend is Thursday, May 19th.

Icahn Enterprises has raised its dividend by an average of 4.6% annually over the last three years. Icahn Enterprises has a dividend payout ratio of 1,176.5% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Icahn Enterprises to earn $0.68 per share next year, which means the company may not be able to cover its $8.00 annual dividend with an expected future payout ratio of 1,176.5%.

Shares of NASDAQ:IEP opened at $52.60 on Tuesday. The company has a quick ratio of 7.61, a current ratio of 7.61 and a debt-to-equity ratio of 0.82. Icahn Enterprises has a twelve month low of $48.93 and a twelve month high of $61.03. The stock’s 50 day moving average is $52.99 and its 200-day moving average is $53.18. The firm has a market capitalization of $15.43 billion, a price-to-earnings ratio of -30.23 and a beta of 0.78.

Icahn Enterprises (NASDAQ:IEPGet Rating) last issued its earnings results on Friday, May 6th. The conglomerate reported $1.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.93. Icahn Enterprises had a negative return on equity of 5.32% and a negative net margin of 5.10%. The company had revenue of $4.08 billion for the quarter, compared to analyst estimates of $2.28 billion. During the same period in the prior year, the firm earned $0.65 earnings per share. Icahn Enterprises’s revenue for the quarter was up 20.7% on a year-over-year basis. Equities research analysts anticipate that Icahn Enterprises will post 0.43 earnings per share for the current fiscal year.

Hedge funds have recently bought and sold shares of the company. Envestnet Asset Management Inc. bought a new position in shares of Icahn Enterprises during the 1st quarter worth $200,000. Goldman Sachs Group Inc. bought a new position in shares of Icahn Enterprises during the 4th quarter worth $220,000. Northern Trust Corp bought a new position in shares of Icahn Enterprises during the 4th quarter worth $261,000. Stifel Financial Corp grew its stake in shares of Icahn Enterprises by 18.8% during the 4th quarter. Stifel Financial Corp now owns 8,038 shares of the conglomerate’s stock worth $399,000 after acquiring an additional 1,273 shares during the period. Finally, JPMorgan Chase & Co. lifted its holdings in Icahn Enterprises by 2.3% during the 4th quarter. JPMorgan Chase & Co. now owns 12,757 shares of the conglomerate’s stock worth $633,000 after purchasing an additional 287 shares in the last quarter. Institutional investors own 88.91% of the company’s stock.

Several equities research analysts recently issued reports on the company. StockNews.com assumed coverage on Icahn Enterprises in a report on Thursday, March 31st. They set a “hold” rating for the company. Zacks Investment Research upgraded Icahn Enterprises from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 4th.

About Icahn Enterprises (Get Rating)

Icahn Enterprises L.P., through its subsidiaries, operates in investment, energy, automotive, food packaging, real estate, home fashion, and pharma businesses in the United States and Internationally. Its Investment segment invests its proprietary capital through various private investment funds. The company's Energy segment refines and markets transportation fuels; and produces and markets nitrogen fertilizers in the form of urea ammonium nitrate and ammonia.

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Dividend History for Icahn Enterprises (NASDAQ:IEP)

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