CION Investment Corporation (NYSE:CION) Declares $0.36 Quarterly Dividend
CION Investment Corporation (NYSE:CION) announced a quarterly dividend of $0.36 per share, payable on December 15th to shareholders of record on December 1st. The dividend yield is 14.1%, but the payout ratio is 114.3%, indicating reliance on the balance sheet for payments. Analysts expect earnings of $1.35 per share next year, insufficient to cover the $1.44 annual dividend. The stock has a Hold rating with a target price of $8.50.
CION Investment Corporation (NYSE:CION - Get Free Report) declared a quarterly dividend on Monday, November 3rd. Investors of record on Monday, December 1st will be paid a dividend of 0.36 per share on Monday, December 15th. This represents a c) annualized dividend and a dividend yield of 14.1%. The ex-dividend date is Monday, December 1st.
CION Investment has a dividend payout ratio of 114.3% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect CION Investment to earn $1.35 per share next year, which means the company may not be able to cover its $1.44 annual dividend with an expected future payout ratio of 106.7%.
Get CION Investment alerts:
CION Investment Stock Up 1.8%
NYSE:CION opened at $10.24 on Friday. CION Investment has a 52 week low of $8.51 and a 52 week high of $12.71. The stock's 50-day moving average price is $9.57 and its 200-day moving average price is $9.77. The stock has a market capitalization of $533.37 million, a PE ratio of -53.89 and a beta of 1.08.
CION Investment (NYSE:CION - Get Free Report) last released its earnings results on Thursday, November 6th. The company reported $0.74 EPS for the quarter, topping analysts' consensus estimates of $0.35 by $0.39. The business had revenue of $78.71 million during the quarter, compared to analysts' expectations of $52.41 million. CION Investment had a negative net margin of 4.57% and a positive return on equity of 9.63%. Sell-side analysts expect that CION Investment will post 1.78 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
CION has been the topic of several research reports. Wells Fargo & Company restated an "underweight" rating and issued a $8.50 target price (down previously from $9.00) on shares of CION Investment in a research report on Tuesday, August 12th. Wall Street Zen upgraded CION Investment from a "buy" rating to a "strong-buy" rating in a report on Saturday, November 22nd. Zacks Research raised shares of CION Investment from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, November 12th. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of CION Investment in a report on Wednesday. One analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $8.50.
Check Out Our Latest Stock Report on CION Investment
CION Investment Company Profile
(Get Free Report)CION Investment Corporation is a business development company. It specializes in investments in senior secured loans, including unitranche loans, First Lien, second lien loans, long-term subordinated loans, and mezzanine loans; equity interests such as warrants or options; and corporate bonds; and other debt securities in middle-market companies.
Recommended Stories
- Five stocks we like better than CION Investment
- Natural Gas Prices Continue To Rally, These Stocks Should Benefit
- Gold to $5,000? What Bank of America and UBS Have to Say
- What to Know About Investing in Penny Stocks
- MarketBeat Week in Review – 11/24 - 11/28
- Which Wall Street Analysts are the Most Accurate?
- Power On: Applied Digital’s First AI Data Center Goes Live
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
Should You Invest $1,000 in CION Investment Right Now?
Before you consider CION Investment, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and CION Investment wasn't on the list.
While CION Investment currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
