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

Chimera Investment (NYSE:CIMGet Rating) issued its quarterly earnings results on Thursday. The real estate investment trust reported $0.31 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.06), Briefing.com reports. The company had revenue of $116.89 million for the quarter, compared to the consensus estimate of $131.19 million. Chimera Investment had a positive return on equity of 12.47% and a negative net margin of 8.93%. The business’s revenue for the quarter was down 32.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.54 EPS.

Chimera Investment Price Performance

Shares of Chimera Investment stock traded up $0.04 on Friday, hitting $9.30. The company had a trading volume of 1,687,774 shares, compared to its average volume of 1,979,739. The company has a market cap of $2.20 billion, a PE ratio of -14.31 and a beta of 1.05. Chimera Investment has a 52 week low of $7.72 and a 52 week high of $16.85. The company has a debt-to-equity ratio of 3.45, a current ratio of 6.05 and a quick ratio of 6.05. The business has a 50-day simple moving average of $9.30 and a 200-day simple moving average of $10.92.

Institutional Trading of Chimera Investment

A number of large investors have recently added to or reduced their stakes in CIM. Dynamic Technology Lab Private Ltd purchased a new stake in Chimera Investment in the 1st quarter worth approximately $261,000. First Republic Investment Management Inc. raised its holdings in shares of Chimera Investment by 48.6% during the 1st quarter. First Republic Investment Management Inc. now owns 35,220 shares of the real estate investment trust’s stock valued at $424,000 after purchasing an additional 11,516 shares in the last quarter. Guggenheim Capital LLC raised its holdings in Chimera Investment by 37.3% in the 1st quarter. Guggenheim Capital LLC now owns 131,721 shares of the real estate investment trust’s stock worth $1,586,000 after acquiring an additional 35,807 shares during the period. Goldman Sachs Group Inc. raised its holdings in Chimera Investment by 113.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,668,559 shares of the real estate investment trust’s stock worth $20,090,000 after acquiring an additional 885,442 shares during the period. Finally, IHT Wealth Management LLC acquired a new stake in Chimera Investment in the 1st quarter worth $156,000. 53.05% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Credit Suisse Group dropped their price objective on shares of Chimera Investment to $9.50 in a research note on Friday, July 22nd. Barclays dropped their price target on shares of Chimera Investment from $11.00 to $9.00 and set an “underweight” rating on the stock in a research note on Monday, July 18th.

Chimera Investment Company Profile

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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.

Further Reading

Earnings History for Chimera Investment (NYSE:CIM)

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