Icahn Enterprises L.P. (NASDAQ: IEP) stock jumped 0.84% on Friday to $20.91 against a previous-day closing price of $20.74. With 0.76 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.26 million shares. During the session, the Oil & Gas Refining & Marketing company that operates in wider Energy sector, reached to the highest price of $20.91 whereas the lowest price it dropped to was $20.11. The 52-week range on IEP shows that it touched its highest point at $55.10 and its lowest point at $18.03 during that stretch. It currently has a 1-year price target of $27.00. With its current market cap of 8.16 billion, IEP has annualized dividend of $4.00 while the current yield stands at 19.13%. Beta for the stock currently stands at 0.89.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of IEP was down-trending over the past week, with a drop of -0.38%, but this was down by -9.68% over a month. Three-month performance dropped to -26.94% while six-month performance fell -59.37%. The stock lost -59.56% in the past year, while it has lost -58.72% so far this year. A look at the trailing 12-month EPS for IEP yields -2.58 with Next year EPS estimates of 13.38. For the next quarter, that number is 0.34. This implies an EPS growth rate of 75.60% for this year and 1908.10% for next year.
Float and Shares Shorts:
At present, 393.46 million IEP shares are outstanding with a float of 392.90 million shares on hand for trading. On Aug 30, 2023, short shares totaled 5.14 million, which was 1.31% higher than short shares on Jul 30, 2023. In addition to Mr. David P. Willetts as the firm’s Pres, CEO & Director of Icahn Enterprises GP, Inc., Mr. Ted Papapostolou serves as its CFO, Director & Sec. of Icahn Enterprises G.P. Inc.
Through their ownership of 92.07% of IEP’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 82.58% of IEP, in contrast to 67.41% held by mutual funds. Shares owned by individuals account for 0.29%. As the largest shareholder in IEP with 81.49% of the stake, Icahn Associates Holding LLC holds 334,494,577 shares worth 334,494,577. A second-largest stockholder of IEP, Jane Street Capital LLC, holds 1,329,651 shares, controlling over 0.32% of the firm’s shares. Geode Capital Management LLC is the third largest shareholder in IEP, holding 284,351 shares or 0.07% stake. With a 0.13% stake in IEP, the Invesco Markets Plc – Morningstar is the largest stakeholder. A total of 547,570 shares are owned by the mutual fund manager. The First Trust Multi Asset Diversifi, which owns about 0.06% of IEP stock, is the second-largest Mutual Fund holder. It holds 246,107 shares valued at 4.94 million. Fidelity Nasdaq Composite Index F holds 0.05% of the stake in IEP, owning 213,962 shares worth 4.3 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Jun 29, 2023, IEP reported revenue of $3.99B and operating income of $356.00M. The EBITDA in the recently reported quarter was $308.00M and diluted EPS was -$0.41.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for IEP since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With IEP analysts setting a high price target of $27.00 and a low target of $27.00, the average target price over the next 12 months is $27.00. Based on these targets, IEP could surge 29.12% to reach the target high and rise by 29.12% to reach the target low. Reaching the average price target will result in a growth of 29.12% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Dividends & Yield:
In terms of dividends, IEP has a current ratio of $4.00, which is $4.00 over the trailing 12-months, while a dividend of $7.81 is likely to be paid on average over the next five years. Dividend yield is another indicator that appeals to many investors, and IEP currently yields $33.48. In the past year, IEP’s dividend yield has been $33.48, but when looking at the stock over the past five years, its yield has been $15.00.
Summary of Insider Activity:
Insiders traded IEP stock several times over the past three months with 1 Buys and 0 Sells. In these transactions, 23,016,917 shares were bought while 0 shares were sold. The number of buy transactions has increased to 4 while that of sell transactions has risen to 1 over the past year. The total number of shares bought during that period was 56,840,919 while 17,920 shares were sold.