What’s in CNO Financial Group, Inc. (CNO) After Forming Wedge Up Pattern?

January 22, 2018 - By Darrin Black

The stock of CNO Financial Group, Inc. (CNO) formed an up wedge with $26.62 target or 5.00 % above today’s $25.35 share price. The 7 months wedge indicates low risk for the $4.25B company. If the $26.62 price target is reached, the company will be worth $212.65 million more.
Rising wedges, especially for downward breakouts are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 8% and 24%. The average rise is 28% and the decline is 14%. Wedges has high throwback and pullback rate: 73%, 63% and the percent of wedges meeting target is not more than 50%.

The stock increased 1.28% or $0.32 during the last trading session, reaching $25.35. About 1.47M shares traded or 67.95% up from the average. CNO Financial Group, Inc. (NYSE:CNO) has risen 4.81% since January 22, 2017 and is uptrending. It has underperformed by 11.89% the S&P500.

Analysts await CNO Financial Group, Inc. (NYSE:CNO) to report earnings on February, 6. They expect $0.41 earnings per share, up 17.14 % or $0.06 from last year’s $0.35 per share. CNO’s profit will be $68.79M for 15.46 P/E if the $0.41 EPS becomes a reality. After $0.45 actual earnings per share reported by CNO Financial Group, Inc. for the previous quarter, Wall Street now forecasts -8.89 % negative EPS growth.

CNO Financial Group, Inc. (NYSE:CNO) Ratings Coverage

Among 10 analysts covering CNO Financial Group (NYSE:CNO), 3 have Buy rating, 1 Sell and 6 Hold. Therefore 30% are positive. CNO Financial Group had 22 analyst reports since July 29, 2015 according to SRatingsIntel. Deutsche Bank initiated CNO Financial Group, Inc. (NYSE:CNO) on Monday, January 25 with “Hold” rating. Raymond James initiated it with “Outperform” rating and $20.50 target in Tuesday, December 22 report. Goldman Sachs initiated the stock with “Buy” rating in Tuesday, November 17 report. Wells Fargo maintained CNO Financial Group, Inc. (NYSE:CNO) on Wednesday, July 26 with “Hold” rating. The stock of CNO Financial Group, Inc. (NYSE:CNO) earned “Neutral” rating by Goldman Sachs on Friday, September 30. The firm has “Neutral” rating given on Thursday, January 26 by Citigroup. The company was initiated on Wednesday, July 29 by Wood. Keefe Bruyette & Woods downgraded it to “Market Perform” rating and $21 target in Wednesday, November 4 report. The stock of CNO Financial Group, Inc. (NYSE:CNO) has “Underweight” rating given on Monday, August 14 by Morgan Stanley. Wood maintained the shares of CNO in report on Tuesday, August 2 with “Market Perform” rating.

More notable recent CNO Financial Group, Inc. (NYSE:CNO) news were published by: Prnewswire.com which released: “CNO Financial Announces Two Bankers Life Appointments” on January 18, 2018, also Prnewswire.com with their article: “Record-Setting Day At 10th Annual CNO Financial Indianapolis Monumental Marathon” published on November 04, 2017, Prnewswire.com published: “CNO Financial Group Amends and Extends Revolving Credit Facility” on October 16, 2017. More interesting news about CNO Financial Group, Inc. (NYSE:CNO) were released by: Seekingalpha.com and their article: “CNO Financial’s (CNO) CEO Ed Bonach on Q3 2017 Results – Earnings Call Transcript” published on October 26, 2017 as well as Nasdaq.com‘s news article titled: “CNO Financial Group, Inc. (CNO) Ex-Dividend Date Scheduled for December 08, 2017” with publication date: December 07, 2017.

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