Chimera Investment (CIM) Upgraded by ValuEngine to Strong-Buy

Chimera Investment (NYSE:CIM) was upgraded by equities researchers at ValuEngine from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Tuesday.

Several other analysts have also issued reports on CIM. BidaskClub raised Chimera Investment from a “hold” rating to a “buy” rating in a report on Thursday, August 17th. Barclays set a $18.00 target price on Chimera Investment and gave the stock a “hold” rating in a report on Tuesday, October 10th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and set a $18.50 target price on shares of Chimera Investment in a report on Friday, October 6th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. Chimera Investment presently has an average rating of “Hold” and an average target price of $18.83.

Chimera Investment (NYSE CIM) traded up $0.09 on Tuesday, hitting $18.73. The stock had a trading volume of 761,302 shares, compared to its average volume of 1,319,055. The firm has a market cap of $3,464.56, a price-to-earnings ratio of 7.75 and a beta of 0.85. Chimera Investment has a 12 month low of $16.43 and a 12 month high of $20.90. The company has a current ratio of 0.02, a quick ratio of 0.02 and a debt-to-equity ratio of 2.72.

Chimera Investment (NYSE:CIM) last released its earnings results on Thursday, November 2nd. The real estate investment trust reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.05. The company had revenue of $156.46 million for the quarter, compared to analyst estimates of $150.29 million. Chimera Investment had a return on equity of 13.29% and a net margin of 58.21%. Chimera Investment’s quarterly revenue was up .3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.68 EPS. equities analysts anticipate that Chimera Investment will post 2.33 EPS for the current year.

In other Chimera Investment news, insider Mohit Marria acquired 6,625 shares of Chimera Investment stock in a transaction that occurred on Monday, November 6th. The shares were acquired at an average cost of $17.89 per share, with a total value of $118,521.25. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.65% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in CIM. The Manufacturers Life Insurance Company boosted its stake in Chimera Investment by 5.5% in the second quarter. The Manufacturers Life Insurance Company now owns 6,580 shares of the real estate investment trust’s stock valued at $123,000 after buying an additional 341 shares in the last quarter. SG Americas Securities LLC acquired a new stake in Chimera Investment in the third quarter valued at about $145,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Chimera Investment by 6.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,354 shares of the real estate investment trust’s stock valued at $156,000 after buying an additional 485 shares in the last quarter. Ffcm LLC boosted its stake in Chimera Investment by 99.8% in the second quarter. Ffcm LLC now owns 9,691 shares of the real estate investment trust’s stock valued at $183,000 after buying an additional 4,840 shares in the last quarter. Finally, Synovus Financial Corp boosted its stake in Chimera Investment by 3.3% in the second quarter. Synovus Financial Corp now owns 10,147 shares of the real estate investment trust’s stock valued at $194,000 after buying an additional 326 shares in the last quarter. 50.73% of the stock is currently owned by institutional investors and hedge funds.

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Chimera Investment Company Profile

Chimera Investment Corporation is a real estate investment trust (REIT). The company is engaged in the business of investing in a portfolio of mortgage assets, including agency residential mortgage-backed security (RMBS), non-agency RMBS, agency commercial mortgage-backed securities (CMBS), residential mortgage loans and real estate related securities.

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