Icahn Enterprises L.P. (NASDAQ:IEP) does about 449.79K shares in volume on a normal day but saw 213406 shares change hands in Friday trading. The company now has a market cap of 18.34B USD. Its current market price is $54.27, marking a decrease of -0.28% compared to the previous close of $54.42. The 52 week high reached by this stock is $55.67 whilst the lowest price level in 52 weeks is $47.17. The script in recent trading has seen the stock touch a high of $54.48 and a low of $54.16.
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Icahn Enterprises L.P. (IEP) has a 20-day trading average at $53.89 and the current price is -2.51% off the 52-week high compared with 15.05% distance from its 52-week low. The 50-day simple moving average of the closing price is $52.45 and its 200-day simple moving average is $52.01. If we look at the stock’s price movements over the week, volatility stands at 0.73%, which increases to 0.89% over 1 month. It is also key to look at other market indicators of price movement for the stock, where we see that the relative strength index (RSI) is at 63.84 to suggest the stock is neutral.
The consensus objective for the share price is $70.00, suggesting that the stock has a potential upside of 22.47% over the period.
The company shares received a number of brokerage firm price updates over the past month, with the latest being on March 03, 2017 when UBS reiterated the stock to “Sell” and issued a price target of between $30 and $40. UBS downgraded the stock to “Sell” from Neutral on August 18, 2016 at a price target of $52-$30. UBS reiterated its price target at $88-$93.
The current price level is 0.86%, 3.63%, and 4.35% away from its SMA20, SMA50, and SMA200 respectively, with the IEP price moving above the 50-day SMA on February 17. Icahn Enterprises L.P. (IEP) stock is up 0.74% over the week and 3.27% over the past month. Its price is 7.15% year-to-date and -2.39% over the past year.
The stock last released its quarterly earnings report for quarter ended 9/29/2022, with the company’s earnings per share (EPS) of -$0.37 below consensus estimates by -$0.59. The company’s next earnings report is expected on 05/04/2023, with forecasts estimating quarterly EPS at $0.15 and $0.38 for whole year. IEP’s earnings per share are forecast to grow by 116.40% this year and 94.70% over next year. Expected sales for next quarter are $2.56 billion, which analysts say will come at $12.77 billion for the current fiscal year and next year at $10.81 billion. In addition, estimates put the company’s current quarterly revenue at an average of $2.67 billion.
Its 12-month price target is $70.00. To reach the target analysts have set, the stock logically needs to grow 22.47 percent from here. Of course, the average price target is just what the average analysts believe a stock will be worth in the next 52 weeks, and is only one metric. There are analysts with lower targets than the average, including one bearish Wall Street research firm advocating investors to wait for the price to pull back to $70.00, given the recent momentum. And then, on the bullish side of things, one analyst is expecting the stock to peak at $70.00.
Outstanding shares total 337.47M with insiders holding 0.17% of the shares and institutional holders owning 90.44% of the company’s common stock. The company has a return on investment of -0.30% and return on equity of -9.20%. The forward price to earnings ratio is 73.64. The beta has a value of 0.71. Price to book ratio is 3.70 and price to sales ratio is 1.40.
Global X SuperDividend US ETF isn’t the only investment manager who changed stakes and is followed by Kinetics Paradigm Portfolio, which sold off 1200.0 shares to end up with 231,150 shares worth $12.43 million. Fidelity Nasdaq Composite Index F raise their holdings by 4.63% in the company over the course of the most recent quarter. It now holds a 0.06% position in Icahn Enterprises L.P. thanks to 0.19 million shares amounting to $10.36 million.
