The stock of Chimera Investment Corporation (NYSE:CIM) hit a new 52-week high and has $17.70 target or 3.00% above today’s $17.18 share price. The 8 months bullish chart indicates low risk for the $3.27 billion company. The 1-year high was reported on Nov, 29 by Barchart.com. If the $17.70 price target is reached, the company will be worth $98.10M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 1.14 million shares traded hands. Chimera Investment Corporation (NYSE:CIM) has risen 20.23% since April 26, 2016 and is uptrending. It has outperformed by 14.97% the S&P500.
Analysts await Chimera Investment Corporation (NYSE:CIM) to report earnings on February, 15. They expect $0.61 EPS, up 15.09% or $0.08 from last year’s $0.53 per share. CIM’s profit will be $116.11M for 7.04 P/E if the $0.61 EPS becomes a reality. After $0.68 actual EPS reported by Chimera Investment Corporation for the previous quarter, Wall Street now forecasts -10.29% negative EPS growth.
Chimera Investment Corporation (NYSE:CIM) Ratings Coverage
Out of 7 analysts covering Chimera Investment (NYSE:CIM), 2 rate it a “Buy”, 1 “Sell”, while 4 “Hold”. This means 29% are positive. $27 is the highest target while $14 is the lowest. The $17.33 average target is 0.87% above today’s ($17.18) stock price. Chimera Investment has been the topic of 14 analyst reports since August 12, 2015 according to StockzIntelligence Inc. Nomura maintained Chimera Investment Corporation (NYSE:CIM) rating on Wednesday, March 23. Nomura has “Buy” rating and $15 price target. The stock has “Underperform” rating given by Wells Fargo on Wednesday, May 4. On Wednesday, August 12 the stock rating was maintained by Deutsche Bank with “Hold”. The firm earned “Market Perform” rating on Tuesday, August 9 by Wood. Barclays Capital maintained Chimera Investment Corporation (NYSE:CIM) on Wednesday, August 10 with “Equal-Weight” rating. As per Friday, January 15, the company rating was downgraded by Wells Fargo. Barclays Capital upgraded Chimera Investment Corporation (NYSE:CIM) rating on Tuesday, October 13. Barclays Capital has “Equal-Weight” rating and $14 price target. The firm has “Market Perform” rating given on Monday, January 18 by Wells Fargo. The company was downgraded on Wednesday, August 12 by Zacks. The firm earned “Hold” rating on Tuesday, August 9 by Deutsche Bank.
According to Zacks Investment Research, “Chimera Investment Corporation are a newly-formed specialty finance company that will invest in residential mortgage loans, residential mortgage-backed securities, real estate-related securities and various other asset classes and intends to elect and qualify to be taxed as a real estate investment trust, or REIT, for federal income tax purposes. Chimera Investment Corporation will be externally managed by Fixed Income Discount Advisory Company, a wholly-owned subsidiary of Annaly.”
Insitutional Activity: The institutional sentiment increased to 0.5 in Q2 2016. Its up 0.25, from 0.25 in 2016Q1. The ratio increased, as 2 funds sold all Chimera Investment Corporation shares owned while 2 reduced positions. 1 funds bought stakes while 0 increased positions. They now own 972,918 shares or 40.73% less from 1.64 million shares in 2016Q1.
Inv Ltd Limited Liability Company accumulated 67,420 shares or 0.1% of the stock. Nfc Invs Ltd Liability Corp owns 856,136 shares or 6.32% of their US portfolio. Moreover, Balasa Dinverno And Foltz Ltd Liability Com has 0.14% invested in Chimera Investment Corporation (NYSE:CIM) for 49,362 shares.
Insider Transactions: Since September 9, 2016, the stock had 1 buying transaction, and 0 sales for $37,110 net activity. $37,110 worth of Chimera Investment Corporation (NYSE:CIM) was bought by Yarlagadda Choudhary.
More recent Chimera Investment Corporation (NYSE:CIM) news were published by: Seekingalpha.com which released: “Chimera Investment Corp.: A View From The Perspective Of A Preferred Investor” on October 24, 2016. Also Businesswire.com published the news titled: “CHIMERA INVESTMENT CORPORATION RELEASES 2nd QUARTER 2016 EARNINGS” on August 03, 2016. Seekingalpha.com‘s news article titled: “Chimera Investment Corp: A Potential High-Yield Ticking Time Bomb” with publication date: August 08, 2016 was also an interesting one.
CIM Company Profile
Chimera Investment Corporation, incorporated on June 1, 2007, is a real estate investment trust. The Firm is primarily engaged in the business of investing, on a leveraged basis, in a diversified portfolio of mortgage assets, including Agency residential mortgage-backed securities (RMBS), Non-Agency RMBS, Agency commercial mortgage backed securities (CMBS), residential mortgage loans and real estate related securities. The mortgage backed securities (MBS) and real estate-related securities the Company purchases may include investment-grade and non-investment grade classes, including the BB-rated, B-rated and non-rated classes.
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