Icahn Enterprises L P (NASDAQ:IEP) price on Thursday, November 14, rose 1.09% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $12.56.
A look at the stock’s price movement, the close in the last trading session was $12.43, moving within a range at $12.3001 and $12.715. The beta value (5-Year monthly) was 0.708. Turning to its 52-week performance, $22.59 and $9.72 were the 52-week high and 52-week low respectively. Overall, IEP moved -13.38% over the past month.
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Icahn Enterprises L P’s market cap currently stands at around $6.33 billion, with investors looking forward to this quarter’s earnings report slated for in December. The company has a Forward Dividend ratio of 4.00, with its dividend yield at 31.85%. As such, investors might be keen on an upside in the stock’s price ahead of the scheduled earnings report.
Analysts have a consensus estimate of 2.27B for the company’s revenue for the quarter, with a low and high estimate of 2.27B and 2.27B respectively. The average forecast suggests down to a -15.17% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 9.1B, representing a -16.12% decline on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that IEP is a 50% Sell. On the other hand, the stock is on average a 100% Sell as suggested by medium term indicators while long term indicators are putting the stock in 100% Sell category.
IEP’s current price about -7.25% and -4.95% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 42.87, while 7-day volatility ratio is 5.69% and 5.25% in the 30-day chart. Further, Icahn Enterprises L P (IEP) has a beta value of 0.71, and an average true range (ATR) of 0.70.
If we refocus on Icahn Enterprises L P (NASDAQ:IEP), historical trading data shows that trading volumes averaged 1.18 over the past 10 days and 1.37 million over the past 3 months. The company’s latest data on shares outstanding shows there are 475.46 million shares.
The 0.11% of Icahn Enterprises L P’s shares are in the hands of company insiders while institutional holders own 91.89% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 11.03 million on 2024-10-31, giving us a short ratio of 12.32. The data shows that as of 2024-10-31 short interest in Icahn Enterprises L P (IEP) stood at 812.9999999999999 of shares outstanding, with shares short rising to 10.93 million registered in 2024-09-30. Current price change has pushed the stock -26.93% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the IEP stock continues to rise going into the next quarter.
