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Icahn Enterprises (IEP) Gains But Lags Market: What You Should Know
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Icahn Enterprises (IEP - Free Report) closed at $51.93 in the latest trading session, marking a +0.31% move from the prior day. The stock lagged the S&P 500's daily gain of 0.69%. Meanwhile, the Dow gained 0.64%, and the Nasdaq, a tech-heavy index, lost 0.18%.
Heading into today, shares of the diversified holding company had gained 0.41% over the past month, outpacing the Conglomerates sector's loss of 12.3% and the S&P 500's loss of 9.94% in that time.
Investors will be hoping for strength from Icahn Enterprises as it approaches its next earnings release. On that day, Icahn Enterprises is projected to report earnings of $0.22 per share, which would represent year-over-year growth of 140%. Our most recent consensus estimate is calling for quarterly revenue of $3.06 billion, up 15.61% from the year-ago period.
IEP's full-year Zacks Consensus Estimates are calling for earnings of $1.03 per share and revenue of $13.82 billion. These results would represent year-over-year changes of +144.4% and +35.98%, respectively.
It is also important to note the recent changes to analyst estimates for Icahn Enterprises. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Icahn Enterprises currently has a Zacks Rank of #2 (Buy).
Valuation is also important, so investors should note that Icahn Enterprises has a Forward P/E ratio of 50.26 right now. This represents a premium compared to its industry's average Forward P/E of 15.25.
The Diversified Operations industry is part of the Conglomerates sector. This group has a Zacks Industry Rank of 96, putting it in the top 39% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Icahn Enterprises (IEP) Gains But Lags Market: What You Should Know
Icahn Enterprises (IEP - Free Report) closed at $51.93 in the latest trading session, marking a +0.31% move from the prior day. The stock lagged the S&P 500's daily gain of 0.69%. Meanwhile, the Dow gained 0.64%, and the Nasdaq, a tech-heavy index, lost 0.18%.
Heading into today, shares of the diversified holding company had gained 0.41% over the past month, outpacing the Conglomerates sector's loss of 12.3% and the S&P 500's loss of 9.94% in that time.
Investors will be hoping for strength from Icahn Enterprises as it approaches its next earnings release. On that day, Icahn Enterprises is projected to report earnings of $0.22 per share, which would represent year-over-year growth of 140%. Our most recent consensus estimate is calling for quarterly revenue of $3.06 billion, up 15.61% from the year-ago period.
IEP's full-year Zacks Consensus Estimates are calling for earnings of $1.03 per share and revenue of $13.82 billion. These results would represent year-over-year changes of +144.4% and +35.98%, respectively.
It is also important to note the recent changes to analyst estimates for Icahn Enterprises. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Icahn Enterprises currently has a Zacks Rank of #2 (Buy).
Valuation is also important, so investors should note that Icahn Enterprises has a Forward P/E ratio of 50.26 right now. This represents a premium compared to its industry's average Forward P/E of 15.25.
The Diversified Operations industry is part of the Conglomerates sector. This group has a Zacks Industry Rank of 96, putting it in the top 39% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.