CION Investment (NYSE:CION) Issues Quarterly Earnings Results, Beats Estimates By $0.01 EPS

CION Investment (NYSE:CION – Get Rating) posted its quarterly earnings data on Thursday. The company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.33 by $0.01, MarketWatch Earnings reports. CION Investment had a return on equity of 7.94% and a net margin of 75.48%.

Shares of NYSE:CION opened at $10.36 on Friday. The business has a fifty day moving average of $12.61 and a two-hundred day moving average of $12.76. The stock has a market cap of $1.18 billion and a P/E ratio of 9.33. CION Investment has a 52-week low of $9.95 and a 52-week high of $15.09.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 8th. Shareholders of record on Wednesday, June 1st will be issued a $0.28 dividend. This is a boost from CION Investment’s previous quarterly dividend of $0.26. This represents a $1.12 annualized dividend and a yield of 10.81%. The ex-dividend date is Tuesday, May 31st. CION Investment’s dividend payout ratio is presently 100.90%.

Large investors have recently modified their holdings of the business. Renaissance Technologies LLC purchased a new position in shares of CION Investment during the 1st quarter worth $170,000. Symphony Financial Ltd. Co. purchased a new position in shares of CION Investment during the 1st quarter worth $193,000. BlackRock Inc. purchased a new position in shares of CION Investment during the 1st quarter worth $4,622,000. Raymond James Financial Services Advisors Inc. grew its holdings in shares of CION Investment by 6.1% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 26,571 shares of the company’s stock worth $393,000 after purchasing an additional 1,536 shares during the period. Finally, JPMorgan Chase & Co. purchased a new position in shares of CION Investment during the 1st quarter worth $733,000. Institutional investors own 3.48% of the company’s stock.

Separately, Wells Fargo & Company reduced their price objective on CION Investment from $12.50 to $11.50 and set an “equal weight” rating for the company in a research note on Monday, April 25th.

About CION Investment (Get Rating)

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.

Featured Articles