Of the two analysts surveyed by Bloomberg, one gave Icahn Enterprises a “buy” rating. The other gave a “hold.” They have given IEP a price target of $56.5.
At the end of 2Q16, IEP’s market value of subsidiaries was $4.4 billion ($5.6 billion at the end of 1Q16). The value of unlisted companies was $4.6 billion.
In 2Q16 Icahn Enterprises’ Automotive segment was the largest contributor to overall revenue, fetching 60% of the total, with an EBITDA margin of 8.8%.
In 2Q16, Icahn Enterprises’ Investment segment was the largest drag on revenues, contributing 7% to total revenues, with an operating loss of $306 million.
Icahn Enterprises (IEP) has been invested in auto parts maker Federal-Mogul Holdings (FDML) for almost a decade. Carl Icahn currently owns 82% of the company.
Icahn Enterprises (IEP) is scheduled to release its 2Q16 earnings on August 4, 2016. Icahn Enterprises’ 1Q16 revenue stood at $3.1 billion, nearly 26.6% below the market consensus of $4.3 billion.
In a Squawk Box interview on CNBC, activist investor Carl Icahn expressed his agreement with George Soros’s bearish outlook on the economy. Icahn cited Soros’s opinion about the existence of a false market buoyed by zero interest rates.
In the railcar market, Icahn Enterprises (IEP) conducts business through its majority-owned interest in American Railcar Industries (ARII) and American Railcar Leasing (ARL).
In this series, we’ll look at Icahn Enterprises’ (IEP) Mining, Railcar, Home Fashion, Food Packaging, and Gaming segments. We’ll also discuss the factors that led to Icahn’s high dividend yield and its major risks.
Icahn’s automotive segment includes Federal-Mogul and IEH Auto Parts. FDML is a global supplier of a broad range of components, accessories, and systems.
Icahn has a long history of investing in both public equity and debt securities. Its strategy is to invest in companies that it believes to be undervalued.
Icahn Enterprises’ segments invest in businesses that they believe to be undervalued. The company has strong financial muscle to park its permanent capital.
Carl Icahn is one of Wall Street’s most influential investors. He disclosed Icahn Associates Corp.’s 2Q14 positions through a 13F filing last month. The size of the U.S. long portfolio increased to $38.5 billion. It was $32.9 billion last quarter. Its only buy in the second quarter was Gannett Co. (GCI).
