In the latest trading session, Icahn Enterprises (IEP) closed at $52.59, marking a +1.13% move from the previous day. This change outpaced the S&P 500's 0.2% loss on the day. Meanwhile, the Dow lost 0.14%, and the Nasdaq, a tech-heavy index, lost 0.12%.Prior to today's trading, shares of the diversified holding company had gained 2.99% over the past month. This has outpaced the Conglomerates sector's loss of 2.15% and the S&P 500's loss of 3.29% 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 $0.22 per share, which would represent year-over-year growth of 140%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $3.06 billion, up 15.61% from the year-ago period.Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $1.03 per share and revenue of $13.82 billion. These totals would mark changes of +144.4% and +35.98%, respectively, from last year.It is also important to note the 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.Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.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 currently has a Zacks Rank of #2 (Buy).Digging into valuation, Icahn Enterprises currently has a Forward P/E ratio of 50.49. For comparison, its industry has an average Forward P/E of 15.75, which means Icahn Enterprises is trading at a premium to the group.The Diversified Operations industry is part of the Conglomerates sector. This group has a Zacks Industry Rank of 81, putting it in the top 33% 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.Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com. Just Released: Free Report Reveals Little-Known Strategies to Help Profit from the $30 Trillion Metaverse Boom It's undeniable. The metaverse is gaining steam every day. Just follow the money. Google. Microsoft. Adobe. Nike. Facebook even rebranded itself as Meta because Mark Zuckerberg believes the metaverse is the next iteration of the internet. The inevitable result? Many investors will get rich as the metaverse evolves. What do they know that you don't? They’re aware of the companies best poised to grow as the metaverse does. And in a new FREE report, Zacks is revealing those stocks to you. This week, you can download, The Metaverse - What is it? And How to Profit with These 5 Pioneering Stocks. It reveals specific stocks set to skyrocket as this emerging technology develops and expands. Don't miss your chance to access it for free with no obligation.>>Show me how I could profit from the metaverse!Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Icahn Enterprises L.P. (IEP): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research