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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 $52.97 in the latest trading session, marking a +0.02% move from the prior day. The stock lagged the S&P 500's daily gain of 2.28%. Elsewhere, the Dow gained 2.13%, while the tech-heavy Nasdaq added 5.02%.
Prior to today's trading, shares of the diversified holding company had gained 4.56% over the past month. This has outpaced the Conglomerates sector's loss of 2.37% and the S&P 500's loss of 4.61% in that time.
Wall Street will be looking for positivity from Icahn Enterprises as it approaches its next earnings report date. On that day, Icahn Enterprises is projected to report earnings of $0.15 per share, which would represent year-over-year growth of 108.72%. Our most recent consensus estimate is calling for quarterly revenue of $2.97 billion, up 28.66% from the year-ago period.
Investors should also note any recent changes to analyst estimates for Icahn Enterprises. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Icahn Enterprises is holding a Zacks Rank of #5 (Strong Sell) right now.
In terms of valuation, Icahn Enterprises is currently trading at a Forward P/E ratio of 71.57. Its industry sports an average Forward P/E of 12.61, 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 group has a Zacks Industry Rank of 190, putting it in the bottom 25% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Icahn Enterprises (IEP) Gains But Lags Market: What You Should Know
Icahn Enterprises (IEP - Free Report) closed at $52.97 in the latest trading session, marking a +0.02% move from the prior day. The stock lagged the S&P 500's daily gain of 2.28%. Elsewhere, the Dow gained 2.13%, while the tech-heavy Nasdaq added 5.02%.
Prior to today's trading, shares of the diversified holding company had gained 4.56% over the past month. This has outpaced the Conglomerates sector's loss of 2.37% and the S&P 500's loss of 4.61% in that time.
Wall Street will be looking for positivity from Icahn Enterprises as it approaches its next earnings report date. On that day, Icahn Enterprises is projected to report earnings of $0.15 per share, which would represent year-over-year growth of 108.72%. Our most recent consensus estimate is calling for quarterly revenue of $2.97 billion, up 28.66% from the year-ago period.
Investors should also note any recent changes to analyst estimates for Icahn Enterprises. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Icahn Enterprises is holding a Zacks Rank of #5 (Strong Sell) right now.
In terms of valuation, Icahn Enterprises is currently trading at a Forward P/E ratio of 71.57. Its industry sports an average Forward P/E of 12.61, 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 group has a Zacks Industry Rank of 190, putting it in the bottom 25% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.