Today’s Price Action: It Seems CNO Financial Group Inc Will Go Down. Have Big Gap Down Today

Today's Price Action: It Seems CNO Financial Group Inc Will Go Down. Have Big Gap Down Today

The stock of CNO Financial Group Inc (NYSE:CNO) gapped down by $0.01 today and has $14.35 target or 6.00% below today’s $15.27 share price. The 8 months technical chart setup indicates high risk for the $2.62 billion company. The gap down was reported on Oct, 1 by Barchart.com. If the $14.35 price target is reached, the company will be worth $157.20 million less.
Gaps down are helpful for identifying a resistance level and to could also be used as a tradeable event. If traders are short the stock and it experiece gap down, then its usually advisable to hold the short for a bigger down move. Back-tests of such patterns show that two-thirds of the these patterns the stock performance worsens after the gap. The area gaps close 91% of the time, the breakaway gaps 1%, the continuation gaps 9% and the exhaustion gaps 64%. The stock decreased 1.77% or $0.27 on September 30, hitting $15.27. About 8.13M shares traded hands or 414.56% up from the average. CNO Financial Group Inc (NYSE:CNO) has declined 12.39% since February 29, 2016 and is downtrending. It has underperformed by 22.82% the S&P500.

Analysts await CNO Financial Group Inc (NYSE:CNO) to report earnings on October, 26. They expect $0.36 earnings per share, up 20.00% or $0.06 from last year’s $0.3 per share. CNO’s profit will be $61.77 million for 10.60 P/E if the $0.36 EPS becomes a reality. After $0.35 actual earnings per share reported by CNO Financial Group Inc for the previous quarter, Wall Street now forecasts 2.86% EPS growth.

CNO Financial Group Inc (NYSE:CNO) Ratings Coverage

Out of 7 analysts covering CNO Financial Group (NYSE:CNO), 3 rate it a “Buy”, 0 “Sell”, while 4 “Hold”. This means 43% are positive. CNO Financial Group has been the topic of 12 analyst reports since July 29, 2015 according to StockzIntelligence Inc. As per Wednesday, July 29, the company rating was initiated by Wood. Raymond James initiated the stock with “Outperform” rating in Tuesday, December 22 report. The firm has “Hold” rating given on Monday, May 2 by Deutsche Bank. The stock has “Outperform” rating given by Wells Fargo on Friday, September 23. As per Friday, September 30, the company rating was downgraded by Goldman Sachs. The rating was maintained by Wood with “Market Perform” on Tuesday, August 2. The rating was downgraded by Keefe Bruyette & Woods to “Market Perform” on Wednesday, November 4. The stock of CNO Financial Group Inc (NYSE:CNO) has “Hold” rating given on Monday, January 25 by Deutsche Bank. The firm has “Buy” rating given on Tuesday, August 25 by BTIG Research. The firm has “Buy” rating by Goldman Sachs given on Tuesday, November 17.

According to Zacks Investment Research, “CNO Financial Group, Inc. is a holding company for a group of insurance companies operating throughout the United States that develop, market and administer supplemental health insurance, annuity, individual life insurance and other insurance products. The Company serves America’s middle-income consumers, with a focus on seniors. It manages its business through the following three primary operating segments: Bankers Life, Colonial Penn and Conseco Insurance Group. Bankers Life markets and distributes health and life insurance products and annuities to the middle-income senior market. Colonial Penn markets primarily graded benefit and simplified issue life insurance directly to customers through television advertising, direct mail, the internet and telemarketing. Conseco Insurance Group markets and distributes specified disease insurance, accident, disability, life insurance and annuities to middle-income consumers at home and at the worksite. CNO Financial Group, Inc. is headquartered in Carmel, Indiana.”

More notable recent CNO Financial Group Inc (NYSE:CNO) news were published by: Insurancejournal.com which released: “CNO Financial Ends Ties with Beechwood Re, Sues Over Hedge Fund Exposure” on September 30, 2016, also Prnewswire.com with their article: “CNO Financial Group Announces Termination of Long-Term Care Reinsurance …” published on September 29, 2016, Prnewswire.com published: “Epsilon Signs New Multi-Year Agreement With CNO Financial Group For Enterprise …” on September 29, 2016. More interesting news about CNO Financial Group Inc (NYSE:CNO) were released by: Forbes.com and their article: “Ex-Dividend Reminder: Weyerhaeuser, Universal Insurance Holdings and CNO …” published on September 06, 2016 as well as Prnewswire.com‘s news article titled: “National Business Group on Health Awards CNO Financial Group Top Honors For …” with publication date: September 15, 2016.

CNO Company Profile

CNO Financial Group, Inc., incorporated on March 25, 2003, is a holding firm for a group of insurance companies operating across the United States that develop, market and administer health insurance, annuity, individual life insurance and other insurance products. The Firm manages its business through three operating divisions: Bankers Life, Washington National and Colonial Penn. The Firm focuses on serving middle-income pre-retiree and retired Americans. The Firm sells its products through three distribution channels, which include career agents, independent producers and direct marketing. The Company’s product categories include health, annuities and life. Under health category of products, the Company offers Medicare supplement, long-term care, prescription drug plan and Medicare advantage plan, supplemental health, hospital indemnity and disability income products. Under annuities category of products, the Company offers fixed index annuity, traditional fixed rate annuity and single premium immediate annuity products. Under life category of life products, the Company offers traditional and interest-sensitive life insurance products.

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