Chimera Investment (NYSE:CIM) Releases Earnings Results, Misses Expectations By $0.06 EPS

Chimera Investment (NYSE:CIM – Get Rating) announced its quarterly earnings results on Thursday. The real estate investment trust reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.06), Briefing.com reports. The company had revenue of $116.89 million during the quarter, compared to the consensus estimate of $131.19 million. Chimera Investment had a negative net margin of 8.93% and a positive return on equity of 12.47%. The business’s revenue was down 32.1% compared to the same quarter last year. During the same period last year, the company earned $0.54 earnings per share.

Chimera Investment Price Performance

Shares of CIM traded up $0.04 during trading hours on Friday, hitting $9.30. 1,687,774 shares of the company were exchanged, compared to its average volume of 1,979,739. The company has a market cap of $2.20 billion, a price-to-earnings ratio of -14.31 and a beta of 1.05. Chimera Investment has a fifty-two week low of $7.72 and a fifty-two week high of $16.85. The company has a quick ratio of 6.05, a current ratio of 6.05 and a debt-to-equity ratio of 3.45. The firm’s fifty day moving average is $9.30 and its 200 day moving average is $10.92.

Institutional Trading of Chimera Investment

Several large investors have recently modified their holdings of the stock. Mackenzie Financial Corp boosted its stake in Chimera Investment by 6.4% in the first quarter. Mackenzie Financial Corp now owns 24,728 shares of the real estate investment trust’s stock valued at $298,000 after buying an additional 1,493 shares in the last quarter. HighTower Advisors LLC boosted its stake in Chimera Investment by 28.3% in the first quarter. HighTower Advisors LLC now owns 13,551 shares of the real estate investment trust’s stock valued at $163,000 after buying an additional 2,991 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in Chimera Investment by 31.2% in the first quarter. PNC Financial Services Group Inc. now owns 13,203 shares of the real estate investment trust’s stock valued at $159,000 after buying an additional 3,139 shares in the last quarter. Worth Asset Management LLC acquired a new stake in Chimera Investment in the first quarter valued at about $30,000. Finally, Great West Life Assurance Co. Can boosted its stake in Chimera Investment by 28.9% in the first quarter. Great West Life Assurance Co. Can now owns 22,400 shares of the real estate investment trust’s stock valued at $287,000 after buying an additional 5,027 shares in the last quarter. 53.05% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CIM. Barclays lowered their price target on Chimera Investment from $11.00 to $9.00 and set an “underweight” rating for the company in a research note on Monday, July 18th. Credit Suisse Group reduced their price target on Chimera Investment to $9.50 in a research report on Friday, July 22nd.

About Chimera Investment

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Chimera Investment Corporation operates as a real estate investment trust (REIT) in the United States. The company, through its subsidiaries, invests in a portfolio of mortgage assets, including residential mortgage loans, agency and non-agency residential mortgage-backed securities, agency mortgage-backed securities secured by pools of residential, commercial mortgage loans, and other real estate related securities.