Icahn Enterprises L.P. (NASDAQ:IEP) finished Wednesday with an addition of $1.31 to close at $20.78, an upside of 6.73 percent. An average of 1,659,600 shares of common stock have been traded in the last five days. There was a fall of -$2.37 in the past week, and it reached a new high 17 times over the past 12 months. The last 20 days have seen an average of 1,826,550 shares traded, while the 50-day average volume stands at 1,513,518.
IEP stock has decreased by -36.72% in the last month. The company shares reached their 1-month lowest point of $18.71 on 08/23/23. With the stock rallying to its 52-week high on 02/17/23, shares of the company touched a low of $18.03 and a high of $55.10 in 52 weeks. It has reached a new high 14 times so far this year and lost -58.97% or -$29.87 in price. In spite of this, the price is down -62.29% from the 52-week high.
Valuation Metrics
Icahn Enterprises L.P. (IEP) stock’s beta is 0.95. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 0.73, the price-to-book (PB) ratio at 1.84, and the price-to-cash flow ratio at 92.62.
The company’s most recent quarterly dividend payment was $1.00 a share, representing a down of -50.0% from $2.00 last year. Its latest decrease dividend $1.00 reported on Wednesday August 2 2023.
Financial Health
Further, the company has a long term debt to equity ratio of 1.70 and a total debt to equity ratio of 1.70 for the quarter ending June 29. Icahn Enterprises L.P.’s EBITDA margin for the year ending June 29 is 10.12%, while its operating margin for the same period stands at -12.30%. Its gross profit as reported stood at $579.0 million compared to revenue of $14.1 billion.
For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, Icahn Enterprises L.P.’s return on assets was -3.50%.
Earnings Surprise
In the quarter under review, the net income was down than the previous quarter. The company posted a net income of -$264.0 million in the quarter, while revenues were grew 45.08%. The analyst consensus anticipated Icahn Enterprises L.P.’s latest quarter earnings to come in at $0.25 per share, but it turned out to be -$0.72, a -388.00% surprise. For the quarter, EBITDA amounted to -$16.0 million. At the end of the quarter ending June 29, Icahn Enterprises L.P.’s stock balance sheet showed total debt was $7.59 billion. Shareholders own equity worth $393.46 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at Icahn Enterprises L.P. (IEP) price momentum. RSI 9-day as of the close on 23 August was 27.66%, suggesting the stock is oversold, with historical volatility in this time frame at 59.10%.
As of today, IEP’s price is $21.08 -10.24% or -$2.37 from its 5-day moving average. IEP is currently trading -37.09% lower than its 20-day SMA and -59.88% lower than its 100-day SMA. However, the stock’s current price level is -29.18% below the SMA50 and -62.02% below the SMA200.
The stochastic %K and %D were 11.42% and 8.66%, respectively, and the average true range (ATR) was 1.69. With the 14-day stochastic at 29.45% and the average true range at 1.71, the RSI (14) stands at 29.81%. The stock has reached -2.02 on the 9-day MACD Oscillator while the 14-day reading was at -2.66.
Analyst Ratings
UBS reiterated its a Sell rating on Icahn Enterprises L.P. (NASDAQ: IEP), but raised their price target to $30, indicating a potential price increase of 30.73% for the stock. The consensus rating for Icahn Enterprises L.P. (IEP) among analysts is Buy. According to current brokerage recommendations, 0 brokerage firms advise that investors sell IEP, while 0 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 1 others rate it as a “buy”.
What is IEP’s price target for the next 12 months?
Analysts predict a range of price targets between $27.00 and $27.00, with a median target of $27.00. Taking a look at these predictions, the average price target given by analysts for Icahn Enterprises L.P. (IEP) stock is $27.00.
