CION Investment Corporation (CION) To Go Ex-Dividend on April 10th

CION Investment Corporation (NYSE:CION) announced a monthly dividend on Monday, March 9th. Investors of record on Friday, April 10th will be paid a dividend of 0.10 per share on Friday, April 24th. This represents a c) annualized dividend and a yield of 16.4%. The ex-dividend date of this dividend is Friday, April 10th.

CION Investment has a payout ratio of 95.2% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities analysts expect CION Investment to earn $1.35 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 88.9%.

CION Investment Trading Up 4.0%

Shares of CION stock opened at $7.32 on Wednesday. CION Investment has a 12 month low of $6.50 and a 12 month high of $10.93. The stock has a market cap of $369.76 million, a P/E ratio of -18.65 and a beta of 1.13. The company has a 50 day simple moving average of $7.88 and a two-hundred day simple moving average of $9.01.

CION Investment (NYSE:CION) last issued its quarterly earnings data on Thursday, March 12th. The company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.04). CION Investment had a negative net margin of 8.57% and a positive return on equity of 12.42%. The business had revenue of $53.79 million for the quarter, compared to the consensus estimate of $51.77 million. As a group, equities analysts forecast that CION Investment will post 1.78 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have commented on CION shares. Weiss Ratings cut CION Investment from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, March 27th. Zacks Research downgraded CION Investment from a “hold” rating to a “strong sell” rating in a research note on Monday, March 16th. Wells Fargo & Company reduced their target price on shares of CION Investment from $8.50 to $7.00 and set an “underweight” rating for the company in a report on Friday, March 13th. Finally, Wall Street Zen cut shares of CION Investment from a “strong-buy” rating to a “hold” rating in a research note on Saturday, March 14th. Three investment analysts have rated the stock with a Sell rating, According to data from MarketBeat.com, the company has an average rating of “Strong Sell” and an average target price of $7.00.

CION Investment Company Profile

CION Investment Corporation is a closed?end, non?diversified management investment company organized as a business development company under the Investment Company Act of 1940. Externally managed by CION Investment Management, LLC, the firm specializes in providing flexible capital solutions to U.S. and Canadian middle?market companies. By combining debt and equity financing, CION seeks to support growth, acquisitions, recapitalizations and other strategic initiatives for its portfolio companies.

The company’s investment strategy centers on senior secured loans, subordinated debt and private equity interests.