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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 the most recent trading day at $54.28, moving +0.06% from the previous trading session. This move lagged the S&P 500's daily gain of 1.63%. Elsewhere, the Dow gained 1.07%, while the tech-heavy Nasdaq added 0.3%.
Heading into today, shares of the diversified holding company had gained 11.05% over the past month, outpacing the Conglomerates sector's gain of 2.65% and the S&P 500's gain of 2.94% in that time.
Wall Street will be looking for positivity from Icahn Enterprises as it approaches its next earnings report date. In that report, analysts expect Icahn Enterprises to post earnings of $0.22 per share. This would mark year-over-year growth of 140%. Meanwhile, our latest consensus estimate is calling for revenue of $3.06 billion, up 15.61% from the prior-year quarter.
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.
Investors might also notice recent changes to analyst estimates for Icahn Enterprises. These revisions help to show the ever-changing nature of near-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. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Icahn Enterprises is holding a Zacks Rank of #3 (Hold) right now.
Valuation is also important, so investors should note that Icahn Enterprises has a Forward P/E ratio of 52.67 right now. Its industry sports an average Forward P/E of 15.53, so we one might conclude that Icahn Enterprises is trading at a premium comparatively.
The Diversified Operations industry is part of the Conglomerates sector. This industry currently has a Zacks Industry Rank of 158, which puts it in the bottom 38% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow IEP in the coming trading sessions, be sure to utilize Zacks.com.
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Icahn Enterprises (IEP) Gains But Lags Market: What You Should Know
Icahn Enterprises (IEP - Free Report) closed the most recent trading day at $54.28, moving +0.06% from the previous trading session. This move lagged the S&P 500's daily gain of 1.63%. Elsewhere, the Dow gained 1.07%, while the tech-heavy Nasdaq added 0.3%.
Heading into today, shares of the diversified holding company had gained 11.05% over the past month, outpacing the Conglomerates sector's gain of 2.65% and the S&P 500's gain of 2.94% in that time.
Wall Street will be looking for positivity from Icahn Enterprises as it approaches its next earnings report date. In that report, analysts expect Icahn Enterprises to post earnings of $0.22 per share. This would mark year-over-year growth of 140%. Meanwhile, our latest consensus estimate is calling for revenue of $3.06 billion, up 15.61% from the prior-year quarter.
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.
Investors might also notice recent changes to analyst estimates for Icahn Enterprises. These revisions help to show the ever-changing nature of near-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. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Icahn Enterprises is holding a Zacks Rank of #3 (Hold) right now.
Valuation is also important, so investors should note that Icahn Enterprises has a Forward P/E ratio of 52.67 right now. Its industry sports an average Forward P/E of 15.53, so we one might conclude that Icahn Enterprises is trading at a premium comparatively.
The Diversified Operations industry is part of the Conglomerates sector. This industry currently has a Zacks Industry Rank of 158, which puts it in the bottom 38% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow IEP in the coming trading sessions, be sure to utilize Zacks.com.