In This Article:
CION Investment Corporation CION shares rallied 7.6% in the last trading session to close at $9.34. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 28.4% loss over the past four weeks.
CION Investment Corporation stock rallied, driven by a massive jump in the broad markets. The jump was attributable to President Donald Trump’s announcement of a 90-day tariff pause for the non-retaliating nations. This cheered the investors, driving the CION stock higher.
This company is expected to post quarterly earnings of $0.37 per share in its upcoming report, which represents a year-over-year change of -38.3%. Revenues are expected to be $57.69 million, down 21.6% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For CION Investment Corporation, the consensus EPS estimate for the quarter has been revised 8.8% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on CION going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
CION Investment Corporation is a member of the Zacks Financial - SBIC & Commercial Industry industry. One other stock in the same industry, Medallion Financial MFIN, finished the last trading session 2.8% higher at $8.52. MFIN has returned -3.7% over the past month.
For Medallion Financial , the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.32. This represents a change of -23.8% from what the company reported a year ago. Medallion Financial currently has a Zacks Rank of #2 (Buy).
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
CION Investment Corporation (CION) : Free Stock Analysis Report
Medallion Financial Corp. (MFIN) : Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).
