Icahn Enterprises L.P. (NASDAQ:IEP) saw an upside of 0.32% to close Friday at $22.22 after adding $0.07 on the day. The 5-day average trading volume is 1,106,380 shares of the company’s common stock. It has gained $24.93 in the past week and touched a new high 1 time within the past 5 days. An average of 1,608,625 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 1,507,966.
IEP’s 1-month performance is -27.27% or -$9.88 on its low of $20.54 reached on 08/04/23. The company’s shares have touched a 52-week low of $18.03 and high of $55.10, with the stock’s rally to the 52-week high happening on 02/17/23. YTD, IEP has lost -56.13% or -$28.43 and has reached a new high 14 times. However, the current price is down -59.67% from the 52-week high price.
Valuation Metrics
IEP stock has a beta of 0.93. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 0.78 while the price-to-book (PB) in the most recent quarter is 1.96, with the price to cash flow ratio at 99.04.
As well, the company’s long term debt to equity for the quarter ending June 29 was 1.70, while the total debt to equity was 1.70. In terms of profitability, the gross margin trailing 12 months is 6.00%. The trailing 12-month EBITDA margin is 10.12% while for the period ending June 29, Icahn Enterprises L.P.’s operating margin was -12.30%. The firm’s gross profit as reported stood at $579.0 million against revenue of $14.1 billion.
Earnings Surprise
For the quarterly period ending June 29 this year, Net income and sales went down compared to those figures reported in the previous quarter. Net income grew 45.08% to -$264.0 million, while revenue of $805.0 million was 404.92% off the previous quarter. Analysts expected IEP to announce $0.25 per share in earnings in its latest quarter, but it posted -$0.72, representing a -388.00% surprise. EBITDA for the quarter stood at more than -$16.0 million. Shareholders hold equity totaling $393.46 million.
Let’s look briefly at Icahn Enterprises L.P. (IEP) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 18 August was 21.68% to suggest the stock is trending oversold, with historical volatility in this time period at 36.93%.
The stock’s 5-day moving average is $23.08, reflecting a -10.58% or -$2.63 change from its current price. IEP is currently trading -28.99% above its 20-day SMA, -56.39% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by -17.83% and SMA200 by-59.26%.
Stochastic %K and %D was 13.94% and 17.90% and the average true range (ATR) pointed at 1.57. The RSI (14) points at 27.91%, while the 14-day stochastic is at 11.97% with the period’s ATR at 1.65. The stock’s 9-day MACD Oscillator is pointing at -1.08 and -3.26 on the 14-day charts.
Analyst Ratings
In the most recent analyst report for Icahn Enterprises L.P. (NASDAQ: IEP), UBS reiterated its a Sell rating for the company but lifted their price target by $30 to $40. Analysts offering their rating for IEP stock have a consensus rating for the stock as Buy. Currently, 0 brokerage advisors rate IEP as a “sell,”, while 0 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 0 rates the stock as overweight while 1 have offered a “buy” rating.
What is IEP’s price target for the next 12 months?
Analysts have a consensus price target ranging from a low of $27.00 and a high of $27.00, with their median price target at $27.00. Looking at these predictions, the average price target given by analysts is for Icahn Enterprises L.P. (IEP) stock is $27.00.
