CION Investment Corporation (NYSE:CION) Declares $0.10 Monthly Dividend

CION Investment Corporation (NYSE:CION) announced a monthly dividend on Monday, March 9th. Stockholders of record on Friday, May 15th will be given a dividend of 0.10 per share on Friday, May 29th. This represents a c) dividend on an annualized basis and a dividend yield of 17.9%. The ex-dividend date is Friday, May 15th.

CION Investment has a dividend 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 fall. Research analysts expect CION Investment to earn $1.04 per share next year, which means the company may not be able to cover its $1.20 annual dividend with an expected future payout ratio of 115.4%.

CION Investment Stock Performance

Shares of NYSE CION traded down $0.09 during trading hours on Wednesday, hitting $6.71. The company’s stock had a trading volume of 39,096 shares, compared to its average volume of 589,354. 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 $333.84 million, a price-to-earnings ratio of -167.58 and a beta of 1.16. The business has a 50-day simple moving average of $7.27 and a 200-day simple moving average of $8.68.

CION Investment (NYSE:CION) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.02). CION Investment had a positive return on equity of 11.96% and a negative net margin of 0.41%.The business had revenue of $49.54 million during the quarter, compared to analysts’ expectations of $49.12 million. On average, equities research analysts forecast that CION Investment will post 1.03 EPS for the current year.

Analysts Set New Price Targets

A number of analysts recently commented on CION shares. Wells Fargo & Company dropped their price target on CION Investment from $7.00 to $6.50 and set an “underweight” rating for the company in a research note on Monday. Weiss Ratings lowered shares of CION Investment from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, March 27th. Wall Street Zen cut shares of CION Investment from a “strong-buy” rating to a “hold” rating in a research report on Saturday, March 14th. Finally, Zacks Research cut shares of CION Investment from a “hold” rating to a “strong sell” rating in a research report on Monday, March 16th. Three analysts have rated the stock with a Sell rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Strong Sell” and a consensus price target of $6.50.

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.